Web3 streaming is receiving a boost as the LABEL Foundation has joined forces with LG Electronics to introduce a Web3-native music streaming platform on Smart TVs. This partnership represents a significant milestone in reshaping the global music streaming landscape.
LG is a South Korean multinational conglomerate that operates in various industries, including electronics, chemicals, and telecommunications.
LG Electronics is a subsidiary of LG Corporation and is headquartered in Seoul, South Korea. LG Electronics is divided into four business units: home entertainment, mobile communications, home appliances & air solutions, and vehicle components.
The LABEL Foundation is a Web3 firm that operates a blockchain-based NFT and copyright fee-sharing platform called Tracks, which is an advanced music streaming platform.
The foundation’s parent company, Clesson, has received $2 million in equity funding to lead the Web 3.0 content industry.
Source: Crypto TV Plus