Label Foundation is ecstatic to announce that they have formed an innovative partnership with LG Electronics. Together, they will launch the first Web3 standard music streaming platform on Smart TVs. The crux of the agreement is incorporating the TRACKS music dApp into LG’s global network of Smart TVs. TRACKS will be responsible for the addition of Background Music (BGM) to LG Smart TVs around the globe. There will be no fees for the entire music library, and users will have the option to earn rewards through TRACKS.
In addition to being an unequivocal landmark in the music streaming space, the partnership will also introduce the newest LG Smart TV capabilities later this year. It will also be a new-age music streaming experience for users. This will be the first instance of incorporating Web3 technology within TVs, bringing about an age of decentralized music streaming.
This partnership will launch TRACKS’ international program of integrating into the user’s daily experiences via a broader range of products, including Smart TVs, mobile devices, and many others. It will be a first-time experience for users.
LG Electronics comes with an enviable user base and has, of late, witnessed exponential growth for the company. One of the ideas behind this association is democratizing music streaming. With the delivery of their music streaming platform to the users of LG Smart TVs, the users will receive the option of free music being more readily available to them internationally.
According to the Chief Strategy Officer at Label Foundation, Hyungsoon Choi, their association with LG Electronics will take their companies and the music streaming space to the next level. It will also set the ball rolling to carry out further improvements in the area of decentralized music applications.
LG Electronics is internationally known as one of the best innovators in technology, along with consumer electronics. The company is spread out nearly all over the globe and has, to its credit, more than 74,000 employees. LG Electronics’ collective earnings have reached the $67 billion mark. The company is actively involved in manufacturing consumer and commercial goods, including TVs, home appliances, air purifiers, monitors, serving robots, automotive parts, and so much more. The company’s prime LG SIGNATURE and its intelligent LG ThinQ brands are famous internationally.
Label Foundation, on the other hand, is renowned for developing a Web3 music platform ecosystem-specific platform that includes a Listen-and-Earn system, TRACKS. The company provides a sophisticated Music-Fi ecosystem. This allows users to receive rewards based on the amount of time spent listening to music. Users can participate in revitalizing the Web3 3.0 music platform ecosystem by releasing tokens as rewards to musicians while concurrently listening to music or spending them on the LABEL platform.