LABEL Foundation

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Discover LABEL Foundation's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is LABEL Foundation?

LABEL Foundation (LBL) is a cryptocurrency launched in 2021 and operates on the Ethereum platform. It has a total supply of 3 billion tokens, with a circulating supply of 1.1 billion tokens. The token's price performance is tracked on various exchanges, including Gate.io and HTX, and its market capitalization is around $8.169 million. LABEL Foundation's all-time high was recorded at BTC0.051160, and its all-time low was at BTC0.074563.

How is LABEL Foundation used?

The crypto LABEL Foundation (LBL) is used to facilitate various activities within its ecosystem. Primarily, it allows investors and content creators to connect and trade NFTs, ensuring fair profit-sharing and integrating with IP rights. The LBL coin is also used for decision-making and controlling the LABEL platform. Additionally, it supports the Listen-And-Earn mechanism, TRACKS, which rewards users with tokens based on their music playback time, which can then be used to support musicians or spent within the platform.

How do I store LABEL Foundation?

To store LABEL Foundation (LBL) tokens safely, it is recommended to use a "Cold Wallet," which is a wallet that is totally offline. This type of wallet provides the highest level of security for storing your coins or tokens.

How to buy LABEL Foundation?

To buy LABEL Foundation (LBL) tokens, you can follow these steps:

Buying from Centralized Exchanges (CEX)
  1. Register and Verify: Find a reliable CEX that supports LBL trading, such as Binance or KuCoin. Register an account on their official website or app, and verify your identity using a government-issued ID. Enable two-step verification for added security.
  2. Buy Base Currency: Use fiat to purchase a base currency like USDT, ETH, or BNB through the CEX's OTC trading service or a financial service platform like PayPal or Robinhood.
  3. Transfer Base Currency: If the CEX you're using doesn't support LBL trading, transfer your base currency to another CEX that does.
  4. Buy LBL: Use your base currency to buy LBL in the spot market.
Buying from Decentralized Exchanges (DEX)
  1. Choose a DEX: Select a DEX that supports LBL trading, such as Uniswap or Pancakeswap.
  2. Get a Wallet: Download and install a Web3 crypto wallet like Metamask or an app wallet like Trust Wallet, which is supported by the DEX.
  3. Buy Mainnet Currency: Purchase the mainnet cryptocurrency corresponding to the DEX (e.g., ETH for Ethereum-based DEX or BNB for Binance Smart Chain-based DEX).
  4. Swap for LBL: Use your mainnet currency to swap for LBL on the DEX.

Remember to check the exchange's customer service and announcements for any regional restrictions or tax implications.

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History of LABEL Foundation

The history of LABEL Foundation (LBL) is closely tied to its founders, Dr. Farid Yazdanpanah and Amir Khosrowshahi. LBL is a cryptocurrency built on the Ethereum Network, designed to facilitate the trading of NFTs and digital content investments. The primary goal of the platform is to create a fair profit-sharing environment that integrates with intellectual property (IP) rights, protecting content creators from copyright infringement.

The LABEL Foundation token, LBL, serves multiple purposes. It allows investors and content creators to connect within the ecosystem, ensuring that creators receive fair compensation for their work. Additionally, LBL is used for decision-making and controlling the platform itself.

LABEL Foundation has been actively traded since its inception in 2021. Historical data shows that the token's price has fluctuated over time, with a 52-week range of $0.001349 to $0.006055. The token's market capitalization and circulating supply have also been tracked, providing insights into its performance and adoption.

The platform's focus on IP rights and fair profit-sharing has positioned it as a unique player in the cryptocurrency space. As the digital content landscape continues to evolve, LABEL Foundation's history and mission are likely to play a significant role in shaping the future of NFT trading and content creation.

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How LABEL Foundation works

LABEL Foundation (LBL) is a cryptocurrency that operates on the Ethereum blockchain. It was launched in 2021 and has a total supply of 3 billion tokens. Here's an overview of how it works:

Buying and Trading

LBL can be purchased through various methods, including centralized exchanges (CEX), decentralized exchanges (DEX), and crypto wallets. On centralized exchanges, users can buy LBL using fiat currency or by exchanging other cryptocurrencies. Decentralized exchanges, on the other hand, offer a more private and self-custodial way to trade, but they only support crypto-to-crypto exchanges. Crypto wallets also allow users to buy LBL directly or by swapping other cryptocurrencies.

Storage and Security

Once purchased, LBL tokens can be stored in a variety of wallets, including web3 wallets and cold storage solutions. It is crucial to ensure the security of these wallets by using strong passwords, enabling two-factor authentication, and keeping seed phrases safe.

Blockchain and Transactions

As an Ethereum-based token, LBL transactions are facilitated by the Ethereum blockchain. This means that users need to have Ethereum (ETH) to pay for transaction fees. The blockchain also ensures the integrity and transparency of transactions, making it difficult for fraudulent activities to occur.

Price and Market

The price of LBL is influenced by market forces and can fluctuate rapidly. Predictions suggest that the price may rise significantly in the future, but it is essential to stay informed about market trends and sentiment before making investment decisions.

Tokenomics

The tokenomics of LBL involve the distribution and management of the 3 billion tokens in circulation. This includes the allocation of tokens to different stakeholders, the use of tokens for governance, and the potential for token burning or minting to control supply and demand.

Overall, LABEL Foundation (LBL) operates as a decentralized cryptocurrency, relying on the Ethereum blockchain for transactions and utilizing various exchanges and wallets for trading and storage.

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LABEL Foundation's strengths

The token LABEL Foundation (LBL) has several strengths that contribute to its potential success and value:

  • Decentralization and Governance: LBL is a governance token that drives the growth of the LABEL Foundation ecosystem, distributing power to users through decentralization. This decentralized approach ensures transparency and security in the platform's operations.

  • Charitable Donations: LBL tokens can be used to donate to various charitable causes and projects supported by the LABEL Foundation. This utilization of blockchain technology ensures transparency and security in all donations, allowing donors to track how their contributions are being used.

  • Liquidity and Trading: LBL tokens can be traded on various cryptocurrency exchanges, providing liquidity to donors and investors alike. This liquidity helps to maintain a stable market for the token and supports its overall value.

  • Token Economy: The LABEL Foundation is building a token economy with both utility tokens ($BLB) and governance tokens ($LBL). This dual-token approach allows for a more comprehensive and robust ecosystem, enhancing the overall functionality and value of LBL.

  • Long-Term Potential: Predictions suggest that LBL could reach significant price levels in the future, driven by increased global acceptance of blockchain-based solutions. This long-term potential makes LBL an attractive investment opportunity for those interested in the growth of blockchain technology.

These strengths collectively contribute to the value and potential of the LABEL Foundation (LBL) token, making it an attractive option for investors and users alike.

LABEL Foundation's risks

LABEL Foundation (LBL) carries significant financial risks. It is considered a high-risk investment due to its volatility, and its future value is uncertain and speculative.

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Did LABEL Foundation raise funds?

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LABEL Foundation’s team

  • Steve Pruitt: A musician, entrepreneur, stock analyst, and professor who has worked in the music industry for over 28 years and is part of the team behind LABEL Foundation.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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