After more than a decade of biting the dust, nostalgic peer-to-peer file sharing platform LimeWire returns with a new strategy, approach, and management. Thus, the shared service once associated with piracy announced its transformation into the NFT market in partnership with leading company Universal Music Group (UMG).
The big comeback was secured by “serial founders” Paul and Julian Zehetmayr, co-founders of b2b software company Stack Holdings. According to the founders, the new LimeWire platform will target “NFT newbies” who feel insecure in the highly speculative realm of NFT.
“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.”, said Paul Zehetmayr, adding: “If you are an average music fan on the internet, you may not have any cryptocurrency or access to a cryptocurrency wallet, let alone understand the mechanics of collectibles on the blockchain. We want to remove all those barriers and make it easy for people to participate, while also providing an exciting platform for crypto natives.”
Now back to the partnership with Universal Music Group. According to LimeWire, UMG will provide all necessary licenses and access to its top-tier artists, bringing them onto LimeWire’s NFT platform. Soon, UMG users will be able to gift their fans with NFT music, audiovisual content such as music videos, backstage footage, and any other type of digital content, all through the LimeWire NFT platform. With such big names in the UMG family as Def Jam, Capitol Records, Motown, Virgin Music and others, LimeWire will quickly rise to the top of the global charts.
Music-focused web3 platform LimeWire has already launched its own LMWR token led by leading venture capital firms, history-making DAOs like DAO Jones and NFT, and web3 music tastemakers like Steve Aoki. In particular, while everyone was looking at LimeWire, the company managed to raise a whopping $10.4 million in a private sale of its LMWR token last month.
Currently, collectors, dealers and creators alike can register on the official LimeWire website. website be among the first to gain early access to the market at launch. Stay tuned!