The Web 3.0 music platform, Label Foundation, and LG Electronics have announced a partnership to launch ‘Tracks,’ a Web3-based music streaming service. This is a first of its kind collaboration where Web3 technology will integrate with TVs.
Tracks will be available on LG Smart TVs and mobile devices, offering free access to refined music playlists and visuals as well as the ability to earn rewards. Users will also be able to earn rewards that can be redeemed for exclusive content and experiences.
It is targeted at Generation Z, who are more appreciative of tech infused music and visuals.
The beta version of the service has been available for mobile devices since September 25, 2023, and is set for a rollout on the newest version of LG TVs this year.
Top investors such as eBest Investment and Securities, Groom Investments, and DWF Labs are among those who have given their backing to this move, signifying a positive change in the industry.
Their support has helped the Label Foundation launch Listen-and-Earn TRACKS dApp, in a Closed-Beta-Test that was successfully completed by testing thousands of users.
The Label Foundation is an organization with a mission to revolutionize the world of music through the use of Web 3.0 technology to design a DApp that transforms the way in which music is selected and monetized.
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