LimeWire makes a comeback after ten years with an NFT marketplace

Limewire, a popular peer-to-peer file-sharing website from the early 2000s that went defunct in 2010, is entering the market with a digital collecting marketplace in the hands of its new owners.

In an official announcement on Wednesday, the platform revealed its plans to launch a non-fungible token marketplace targeting the arts and music industries. The NFT marketplace is expected to launch in May and an official NFT with a token reward system is expected later this year.

The marketplace will be fully curated and launched with major artist partnerships from the music industry. LimeWire has also partnered with Algorand for cost and energy efficient minting.

Brothers Paul and Julian Zehetmayr bought the rights to the company in hopes of reviving the brand in the Web3 era. Given LimeWire’s connection to the music industry (it was mainly used for downloading pirated songs), the new era for the brand will be focused on supporting artists and the music industry.

Speaking about the platform’s controversial past, the CEO brothers claimed it was one of the main reasons for them to revive the brand and support real artists and their content.

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“LimeWire returns as a platform for artists, not against them. On LimeWire, the majority of revenue goes directly to the artist, and we will work with creators to allow full flexibility, ownership and control over their content,” said Julian.

Limewire’s controversial past had been the reason for several lawsuits from music labels and the platform founder Mark Gorton agreed to Pay $105 million fined by record labels for copyright infringement in May 2011.

The company’s CEOs stressed that the relaunch aims to set the record straight and build a digital collectible market for the music community.

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