If you grew up in the 1990s and were an early adopter of computer, you may have heard of and used LimeWire. It was a well-known peer-to-peer file-sharing program built by Mark Gorton and published about 22 years ago, in May 2000. However, due to a copyright infringement issue, it was ended in 2010. Now, an Austrian entrepreneur duo has taken on the task of resurrecting the popular website as a non-traditional marketplace for music, content, and artworks.
LimeWire to become NFT Marketplace
Austria-based serial entrepreneurs Julian and Paul Zehetmayr purchased the rights to LimeWire and formed LimeWire GmbH, a separate firm with no ties to the original LimeWire LLC team.
LimeWire will be launched as a “mainstream-ready, digital collectibles marketplace for art and entertainment, initially focusing on music,” according to the Zehetmayr brothers, who are now co-founders of the company.
The new LimeWire platform’s existing backers believe it will become a venue for artists and digital innovators to develop, market, and distribute original music pieces to collectors without the “technical barriers of the current NFT ecosystem.” The company also plans to recruit a number of musicians and composers to the resurrected LimeWire platform, with the goal of attracting at least a million buyers by the conclusion of its first year on the market.
In the form of LMWR tokens, the corporation will also establish its own cryptocurrency. The timeline for LimeWire’s launch can be found in the figure below.
One of LimeWire’s main goals as an NFT marketplace is to give those who don’t have a digital crypto wallet or any knowledge of NFTs access to NFTs and digital collectibles. LimeWire’s NFTs would be available for purchase using credit or debit cards using Wyre’s payment system, which is also utilized by the popular NFT marketplace OpenSea. As a result, LimeWire’s primary purpose is comparable to Neon’s NFT ATM, however the former will initially solely focus on musical NFTs.
“It’s crucial to highlight that we’re relaunching LimeWire as an extra route for artists to sell exclusive music and art directly to collectors, not as a replacement for streaming services,” Julian Zehetmayr said in a statement.
LimeWire’s NFT market will debut in May of this year, with the goal of making the process of purchasing and selling NFTs on the market easier. It’s being advertised as a forum for “NFT beginners” looking to break into the industry. You can currently join the waitlist by registering using your email address on the company’s official website. So, what are your thoughts on it? Leave a comment below with your opinions on LimeWire as an NFT marketplace.
