Label Foundation, a company dedicated to revolutionizing music accessibility through the power of Web3 technology, has forged a strategic partnership with LG Electronics to launch a Web3 music streaming platform.
Named “Tracks,” the platform offers LG’s latest smart TV owners free access to curated music playlists and visuals, promising an immersive music streaming experience.
Tracks boasts a diverse array of music playlists, featuring selected themes to cater to a wide range of musical preferences.
The platform also features “Live Rooms,” digital spaces where users can join to enjoy the same music while engaging in real-time discussions via integrated chat rooms.
Listeners will also be able to earn points based on the listening duration they accumulate, which will unlock mysterious reward boxes. In its whitepaper, Label Foundation hinted at the inclusion of non-fungible token (NFT) rewards within these boxes in the near future.
The Tracks platform also features a “daily bonus” system that allows users to accumulate $BLB rewards by simply watching advertisements.
LG smart TV owners will be able to access the Tracks platform later this year, with an open beta version of the platform slated for release on mobile devices on September 25, 2023.
This collaboration marks LG’s continued foray into the Web3 space, building upon its previous achievements.
In September 2022, LG introduced its NFT platform, LG Art Lab, enabling users with webOS 5.0 and later TVs to display, buy, and sell NFTs directly from their Home Screen.
Additionally, LG’s ongoing efforts include the integration of the Hedera-based Blade Wallet into its NFT platform, with a focus on facilitating royalty payments. In February, the company collaborated with renowned sculptor Barry X Ball on an exclusive NFT series for the LG Art Lab platform.