If the optional argument new-label is not present, ntfslabel will simply display the current file system label.
If the optional argument new-label is present, then ntfslabel will set the file system label to be new-label. NTFS file system labels can be at most 128 Unicode characters long; if new-label is longer than 128 Unicode characters, ntfslabel will truncate it and print a warning message.
It is also possible to set the file system label using the -L option of mkntfs(8) during creation of the file system.