Limewire is making a comeback in the 2000s, when millions of people used it to get free (bootleg) music and movies. It's making a comeback as an NFT marketplace, 12 years after it was shut down by a US court!
The new LimeWire will focus on music, allowing users to buy and trade limited editions, unpublished recordings, and digital products, among other things.
Paul and Julian Zehetmayr, co-founders of the business-to-business software firm Stack Holdings The new LimeWire is positioned as a crypto service for a NFT marketplace, according to the duo. Here's what Zehetmayr had to say about it;
“The biggest challenge with digital collectibles and the broader crypto market in general is that it’s really limited to a small group of savvy users,” Paul Zehetmayr said in a statement. “If you are an average music fan on the internet, you might not own any cryptocurrency or have access to a crypto wallet, let alone understand the mechanics of collectibles on the blockchain. We want to remove all those obstacles and make it easy for people to participate, while at the same time offering an exciting platform for crypto natives.”
The company claims to be collaborating with "top-tier artists" to provide exclusive material while developing its own Limwewire community tools to link artists directly to "their most committed set of followers and purchasers." To date, no musicians have been named, but the company counts H.E.R. and the Wu-Tang Clan's management teams among its partners and consultants.
LimeWire's roadmap mentions a "formal launch into the film business" in Q4 2022, but the NFT marketplace is set to launch in May, and an official NFT with a token incentive system is set to launch later this year. The marketplace will be completely curated and will debut with big artist collaborations from the music business.