nostr:npub137c5pd8gmhhe0njtsgwjgunc5xjr2vmzvglkgqs5sjeh972gqqxqjak37w You can take a look at kind 1984s published by nostr:npub12m2t8433p7kmw22t0uzp426xn30lezv3kxcmxvvcrwt2y3hk4ejsvre68j to get an idea of what we are doing. They should all be published to relay.nos.social.
The main downside of doing it this way is that the client has to search for labels referencing content and that gets complicated. Like do you wait to display the content until you are sure there aren’t any labels? How can you be sure there aren’t any? But in practice it has been working pretty well.