THELOGICALINDIAN - The shuttered music administration account is authoritative a comeback
LimeWire, a book administration account that shut bottomward in 2024, affairs to relaunch as a agenda collectibles exchange for art, music, and entertainment.
LimeWire Plans Comeback
More than a decade afterwards a accusation affected it to shut down, LimeWire is authoritative a comeback.
The abeyant book administration armpit appear Wednesday that it would disclose its bookish acreage to barrage a multimedia NFT marketplace. Serial entrepreneurs Paul and Julian Zehetmayr will accordingly act as CEOs for the aggregation and advance a absolutely new aggregation with no affiliation to the aboriginal book administration site. The new LimeWire affairs to admission its agenda collectibles exchange in May.
Launched in 2000, LimeWire became one of the arch destinations for music and book administration on the internet. However, due to the ample bulk of pirated agreeable broadcast through the site, a accomplice of 13 almanac companies, including labels endemic by Sony and Warner Music Group, sued LimeWire in 2006. In 2011, LimeWire lost the accusation and was affected to pay out $105 actor in damages, arch to the site’s closing shutdown.
This time, instead of allowance its users download copyrighted music for free, LimeWire will focus on acknowledging musicians. The aggregation affairs to coin partnerships aural the music industry and acquiesce artists to advertise pre-release music, unreleased demos, graphical artwork, absolute alive versions, agenda merchandise, and backstage content, all in NFT form. LimeWire says it will accord up to 90% of the acquirement from NFT sales anon to the artists.
“LimeWire affectionate of laid the foundation for music streaming,” Zehetmayr said, answer the accommodation to relaunch LimeWire afterwards years of inactivity. “It’s a allotment of Internet legacy, and we are beholden that we can about-face it about [into] article for the music industry,” he said.
At its peak, LimeWire served over 50 actor account users and is still a broadly accustomed name amid aboriginal Internet users. As such, it has aerial hopes for its attack into NFTs. It will focus on user accessibility by appraisement NFTs in U.S. dollars, and accepting acclaim agenda payments, coffer transfers, and added authorization bill payments in affiliation with Wyre. The aggregation aims to onboard over one actor users aural its aboriginal year.
LimeWire is not the alone aggregation to map out affairs for an NFT exchange amidst ascent absorption in the technology. In May 2021, the video bold banker GameStop pivoted to architecture its own agenda collectibles exchange for trading in-game items such as avatars, outfits, and weapons. Additionally, Meta has additionally hinted at affairs to acquiesce users to buy and advertise NFTs through Facebook and Instagram.
Disclosure: At the time of autograph this piece, the columnist endemic ETH, and several added cryptocurrencies.
