Home News LimeWire makes a comeback after a decade with an NFT marketplace

LimeWire makes a comeback after a decade with an NFT marketplace

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Limewire, a popular peer-to-peer file-sharing network that went defunct in 2010, is making a comeback under new ownership with a digital collectible marketplace.

In Fact, the platform announced its plans to build a nonfungible token marketplace for the art and music industries. In an official release on Wednesday. The NFT marketplace is set to begin in May. And an official NFT with a token-based reward system will follow later this year.

Besides, the marketplace will be completely curated, and it will debut with significant music industry artist collaborations. LimeWire has also teamed up with Algorand to make minting more cost-effective and energy-efficient.

The company’s rights purchased by brothers Paul and Julian Zehetmayr. Who hoped to bring the brand back to life in the Web3 era. Because of LimeWire’s history with the music industry (it was mostly usable to download stolen music), the brand’s new age will be mainly to assist artists and the music industry.

Additionally, the CEO brothers addressed the platform’s tumultuous background. Claiming that it was one of the driving forces behind their decision to resurrect the brand and support genuine artists and their work.

“LimeWire is making a comeback as a platform for artists, not against them,” says the company. “On LimeWire, the majority of revenue will go directly to the artist. And we will collaborate with creators to give them complete flexibility, ownership, and control over their content,” Julian explained.

Limewire’s tumultuous history has prompted multiple lawsuits from record labels. And in May 2011, the platform’s founder, Mark Gorton, agreed to pay $105 million. In order to record labels as a penalty for copyright infringement.

The relaunch, according to the company’s CEOs, focuses on righting wrongs. And creating a digital collectible marketplace for the music community.

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