PRESS RELEASE. In this industry, it is very important to establish key strategic partnerships to ensure longevity and prosperity. To that end, LABEL Foundation officially announced a partnership with Polygon Studios, with the further intention to pursue its multi-chain goal and launch its Dapp additionally on Polygon Network, along with Binance Smart Chain and Ethereum Network.
What is Polygon.
Polygon is a Layer 2 scaling solution that works in tandem with the Ethereum blockchain to make transactions faster and less costly. Polygon is a PoS (Proof-of-Stake), Ethereum Virtual Machine (EVM) compliant, secure, Layer-2 solution for dApps (decentralized applications) that provides fast transactions and minimal costs.
Polygon Studios is the gaming and NFT division of Polygon, dedicated to contributing to the global blockchain-based gaming and NFT space and bridging the gap between Web 2.0 and Web 3.0 games through investment, marketing and developer support.
How collaboration will help.
LABEL’s collaboration with Polygon benefits everyone involved in two main ways. First, it allows the LABEL team to have more bandwidth and scale for their NFT market without charging exorbitant fees, and second, it helps in providing the ability to connect other different projects in the Polygon ecosystem.
Furthermore, LABEL has recently formed a payment partnership with one of the unicorn companies in the industry, MoonPaywhich is also a strategic partner with Polygon Studios, and they are currently collaborating to launch NFT NYC in June. The LABEL team will use its connections to further collaborate with Polygon initiatives. In addition, the LABEL Foundation is expanding Polygon’s network of projects and will continue to engage with them for the foreseeable future.
The LABEL Foundation is an NFT infrastructure that serves as an incubator for world-class entertainment and educational content. It is supported by LBL management and utility tokenization, with the overall goal of developing a fair profit-sharing economy with the realization of IP rights without permissions. The LABEL fund also recently hit an all-time high in the midst of a market crash. Its price rose 140% over the weekend to $0.044, according to Coinmarketcap
In addition, there are currently more than 100 courses available on the LABEL Foundation platform with prominent artists ready to work. The LABEL Foundation is developing a blockchain-based online education platform. In addition, in June, LABEL will open its NFT marketplace, which will include collectibles, merchandise and profit-sharing NFTs. LABEL is also currently recruiting artists for upcoming NFT releases.
Ultimately, LABEL aims to become more compatible with multiple other chains. The team believes that multi-chain is the way of the future, so in the long run, the company is looking to adopt into other networks. For now, it will accept Polygon-issued NFTs as well as payments using LABEL’s ERC-20 and BEP-20 tokens.
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