LimeWire is coming again as an NFT market

Keep in mind all these hours spent on LimeWire, sorting by means of “free” albums and downloading 2000s cult movies? Effectively, the file-sharing service is making a return – solely this time, as an NFT market.

The defunct platform is getting a crypto makeover, due to a pair of entrepreneurs in Austria who’ve simply purchased the rights to LimeWire. Paul and Julian Zehetmayr might be relaunching beneath a brand new firm, LimeWire GmbH, with no affiliation to LimeWire’s earlier crew. In accordance with Bloomberg, the brothers are hoping the “iconic identify” of the platform will evoke nostalgia (the unmistakably millenial/Gen-Z emotion).

“LimeWire won’t be an alternative choice to streaming platforms, however reasonably a further channel for artists to promote unique music and artwork on to collectors and to interact with their most loyal neighborhood of followers,” Julian says, highlighting their intention “to provide artists full flexibility and management in the case of their content material.”

As a platform that housed many an unlawful obtain, LimeWire was a degree of controversy for the music business and its artists.

LimeWire was shut down again in 2010 after an extended authorized battle with the Recording Trade Affiliation of America over copyright infringement, leading to a “everlasting injunction” towards the corporate. The case ended with a $105 million settlement exterior of court docket between former LimeWire CEO Mark Gorton and varied report corporations.

The makers behind the all-new LimeWire are conscious of the controversial previous of the corporate, however are positive the nostalgia issue compounded with the crypto basis will breathe new life into LimeWire. They’ve put security options in place, together with the incorporation of stringent anti-money laundering checks and accountancy agency EY for vetting all actions.

The location will launch in Could, and there may be at the moment a waitlist to be notified about its debut. Gross sales will happen in USD, with no crypto pockets prerequisite – so primarily, collectibles could be purchased straight through bank card, financial institution switch and different gateways.

“We need to take away all these obstacles and make it simple for individuals to take part, whereas on the identical time providing an thrilling platform for crypto natives,” says co-CEO Paul.

The founders are working with artists to create unique content material, from one-of-a-kind nonfungible tokens to bigger collections. There may also be an emphasis on neighborhood and communication, with new methods for artists to work together with their followers being explored.

Welcome again, LimeWire. Form of.