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Music

LimeWire to be relaunched as a “digital collectables marketplace”

@notmyyaztattoo

You might remember LimeWire as the file-sharing platform that enabled peer-to-peer exchanging, specifically for the purposes of music sharing. Although the platform ceased operations in 2011, it seems that they are making a wild and unexpected comeback.

LimeWire hasn’t made any serious moves since their legal trouble with record labels that led to their departure, but if there’s anything that seems to be on their wave, it’s the current NFT craze taking the world by storm.

LimeWire has announced that they’ll be relaunching as a digital collectables marketplace in May, specifically for arts and entertainment, focusing primarily on music. The site aims to onboard one million users within the first year of operations, both through partnerships and exclusive content.

Although NFTs are mostly associated with images, LimeWire intends to host all kinds of digital content, such as limited editions, pre-released music, unreleased demos, graphical artwork, exclusive live versions, in addition to digital merchandise and backstage content.

There’s also no crypto wallet requirement, allowing users to directly purchase from the platform utilising traditional payment methods.

Speaking on the new developments, Paul Zehetmayr, LimeWire co-CEO, says, “The biggest challenge with digital collectables and the broader crypto market in general is that it’s really limited to a small group of savvy users. There are big players on the market already, but the entry barrier is still too big to allow for mainstream adoption. Most music fans do not own any cryptocurrency or have access to a crypto wallet, let alone understand the mechanics of collectables 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.”

Their other co-CEO, Julian Zehetmayr, also commented: “In an increasingly difficult industry with streaming taking over and ownership taking a back seat, we are working to give artists full flexibility and control when it comes to their content. LimeWire will not be an alternative to streaming platforms, but rather an additional channel for artists to sell exclusive music and art directly to collectors and to engage with their most loyal community of fans.”

If you’re curious about LimeWire’s relaunch, you can keep an eye out for the official drop in May.

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