After ten years of inactivity, peer-to-peer (P2P) file sharing software program LimeWire returned with a brand new look – an NFT Market to assist true artists and content material creators.
On its official web site, the challenge additionally says, “LimeWire is again to carry digital collectibles to all people.”
On Wednesday, LimeWire formally introduced its launch of an NFT market for artwork and leisure.
Its preliminary focus shall be music. The platform goals to construct an area for customers to create, purchase and commerce uncommon gadgets comparable to restricted editions, unreleased previews or digital gadgets. The rebranding is about to launch in Could this 12 months.
Begin of A New NFT Market
In an interview with CNBC, LimeWire’s founder Julian Zehetmayr highlighted:
“The difficulty with the NFT market is that almost all platforms are decentralized. For those who have a look at bitcoin, all of the exchanges are making it very easy to purchase, commerce and promote bitcoin. There’s nobody actually doing the identical within the NFT area…We’ve clearly bought this nice mainstream model that everyone’s nostalgic about. We thought we would have liked to construct an actual mainstream person expertise as nicely.”
LimeWire can also be forming alliances with a wide range of main artists and companions inside the trade comparable to Supervisor of WU Music Group Tareef Michael, executives from Wyre and Ayita.
Wyre will assist LimeWire within the platform’s growth in addition to the combination of US greenback fee. {The marketplace} has additionally teamed up with blockchain protocol Algorand for vitality and price effectivity.
The brand new challenge shall be led by Julian Zehetmayr and Paul Zehetmayr. Final 12 months, the Australian brothers acquired LimeWire and set plans to carry the nostalgic software program again.
Bucking The Bitcoin Pattern
As a substitute of cryptocurrencies, the platform will record costs in US {dollars}. This fashion will permit customers to simply purchase tokens on LimeWire utilizing their bank cards.
As Zehetmayr said, “LimeWire is returning as a platform for artists, not towards them. On LimeWire, the vast majority of the income will go on to the artist, and we shall be working with creators to permit full flexibility, possession and management with regards to their content material.”
To assist the revival of LimeWire, the Zehetmayrs used funds they generated via the sale of their former ventures.
One among these companies is the cloud-based API services developer Apilayer. The corporate was acquired by Idera Software program in January 2021 for a confidential sum.
The proceeds of LMWR token sale shall be used so as to add additional assist for the challenge. The sale will kick off for a restricted variety of key traders earlier than being launched to most of the people at a later date.
Holders of the token will be capable to vote on adjustments to LimeWire’s coverage, in addition to on which artists are included within the firm’s music charts.
A Little Historical past
LimeWire was a outstanding peer-to-peer file-sharing service within the 2000s.
When on-line sharing platforms and social networks like YouTube and Spotify have been of their infancy, the peer-to-peer system was a lifesaver for music followers. LimeWire, BitTorrent, Kazaa, and Napster have been the names that hit the stratosphere.
Nonetheless, in 2010, the software program’s popularity had taken a deep dive. The Recording Business Affiliation of America accused LimeWire of music piracy, forcing the corporate to close down.
The New York State Courtroom lastly imposed a everlasting ban on LimeWire, stating that the community had a serious piracy motivation, permitting 50 million month-to-month customers to illegally share 1000’s of copyrighted works.
The choice additionally marks the tip of a four-year authorized confrontation between LimeWire and the Recording Business Affiliation of America, which is thought to be the group representing the vast majority of the world’s main document labels.
Winamp, the favored music participant of the 2000s, additionally introduced its return in November 2021 as a brand new distinctive music platform for artists and followers to generate income.
It’s unclear whether or not Winamp indicated NFT-integration or not. Nonetheless, the NFT sector is definitely turning into extra thrilling, as not solely newcomers, but additionally previous legends, are dashing into the sector.
