I have neither the label sheets, nor the applicator, yet…
No, no, no! Don’t put labels on optical discs! They will deteriorate much faster than the disc itself and when they do, they can cause possibly irreparable damage to your blu-ray player!
Take a look at this article. There are also posts about this floating around this forum.
People posting disc art around are here intending it to be printed directly onto inkjet printable discs using something like this: