The Massive Open Online Course (MOOC) industry is one of the fastest-growing industries globally. The advent of massive internet penetration and the Covid-19 pandemic led to many using MOOC platforms, with the total market size projected to reach $67 billion in 2027.
However, the MOOC industry faces several problems: accountability, accessibility, financial sustainability, and transparent revenue sharing for content creators. Blockchain technology can resolve these problems, and Label Foundation is at the forefront in transforming the MOOC industry.
What is Label Foundation
Label Foundation is a blockchain-based global education content incubation platform that provides an innovative ecosystem focused on the MOOC industry. It provides an incubation system that supports fair investment, distribution, and promotional processes that bypass existing barriers and unfair revenue distribution within the online course sector.
Label eliminates third-party platforms in revenue sharing by enabling content creators and instructors to receive profits from distribution platforms directly. It also creates an innovative ecosystem for content creators to receive funding and tokenize their courses.
Key Features in the Label ecosystem
A unique Incubation System
What makes Label stand out is its innovative P2P incubating system that allows prospective content creators to receive exposure and funding. Content creators can develop a new piece of educational and entertainment-related course for potential funding.
The course is listed as NFT in the Label, and a verification process occurs based on voting within the DAO governance. Voters can decide whether a particular course receives funding and stake their LBL tokens for the verification process. LBL holders also receive added rewards when they stake their tokens to vote on the verification processes of different courses within the Label platform.
Once the target number of votes is achieved, the project is eligible to receive crowdfunding from the existing DAO pool. Upon successful funding, unique NFTs will be generated on Label, recording the number of shares allocated to fundraising participants and other shareholders that contributed to the crowdfunding.
The course is then sent to Label Foundation distribution partners, and profits generated from sales are shared among the shareholders listed on the NFT. NFT holders can liquidate their shares in the NFT market or take profits generated from the course’s sales.
Native NFT Market
Label Foundation hosts a native NFT Market that allows users to trade NFTs minted inside the incubating system. NFTs generated are kept in private wallets, and holders can trade their shares for cryptocurrencies in the NFT market.
Investors who did not participate in incubating can become stakeholders by purchasing NFT shares and receiving profit distribution based on their shareholdings.
Innovative Utility Token
Label platform is powered by its native ERC-20 token LBL. LBL is the inbuilt payment and governance token for Label products and services. Holders can use LBL to pay for educational content listed on the platforms and receive discounts for their purchases.
It also serves as the governance token where holders stake their tokens in the DAO to participate in verification and voting processes. The Label platform incentivizes staking, and stakers receive rewards for staking in LBL tokens.
Backed by Key Stakeholders in the Blockchain Industry
Label Foundation’s potential is seen with the backing of the project by top Venture Capitalists and firms in the blockchain industry. It recently concluded a private sale that generated $1.0 million and was led by HG Ventures alongside other organizations like GBIC, Mindfulness Capital, IOST, M6, Adaptive, Icetea Labs, Alphabit and Pragma.
Label is supported by OPENTRACK – a leading music education platform operated by Clesson, a top-class music education company based in South Korea. OPENTRACK will be providing batches of world-class instructors that will populate the LABEL ecosystem with educational content.
Label will also be bringing to its platform the leading artists through OpenTrack, which partnered with top entertainment stars including Mark Lettieri, Scoop DeVille, Robert Sput Searight and Docskim to share their knowledge and insights on the entertainment industry. To learn more about Label Foundation, visit the following links.