LimeWire Raises From Its Ashes, Returns As Web3 NFT Marketplace

LimeWire, a P2P file sharing project, is bracing itself for a re-release in May 2022, as virtual collectibles art, music as well as entertainment marketplace.
LimeWire is targeting to blend in user experience of Web2 with perks of Web3. It is also planning on releasing its token at some point this year.
Previously, LimeWire served a ruling in United States that which targeted in ceasing file dispersion, file trading, uploading, downloading, searching.

LimeWire’s Revival

LimeWire, a P2P file sharing platform, is ready for its relaunch in May this year as virtual collectibles market for music, entertainment and art.

LimeWire rose to its prominence when it served folks as a place to download music as well as other files apart from the mainstream channels, just like a P2P network torrent.

As per LimeWire, the platform will primarily concentrate on music associated with NFTs.

Its fresh iteration will enable artists as well as fans to generate, acquire and trade the virtual collectibles, without having to tackle present technical barriers hurdling in NFT sector.

Artists associated with music will involve, virtual merchandise and backstage content, exclusive live versions, graphical artwork, unlaunched demos, pre-release songs, as well as limited editions.

LimeWire stated that, it is targeting to fuse in the user experiences of Web2 with perks of Web3. It is also strategizing to release its own token at some point in 2022, enabling accessibility to exclusive content as well as voting rights as community members.

No cryptocurrency wallet is required here, and folks can acquire virtual collectibles directly through credit cards, banking transactions as well as other kind of fiat transactions, which they can owe to their close collaboration with Wyre, a payment platform. Cherry on the top, all products will be valued at USD.

During 2010, LimeWire was served with the ruling in US, ceasing services like file dispersion, searching, uploading, downloading, file trading. In its resurrected doc, the organization is eyeing for 1 Million users under a year via collabs with music artists, and folks can access the waitlist currently in its site.

This is the newest entry in lists of projects trying to bag perks of latest ways of revenue generation from collectibles associated with music. During commencement of this month, Universal Music Group and Billboard stated that they will be joining forces to release ChartStars, a project based on NFTs involving virtual collectibles developed on Flow blockchain.

What Does This Means For NFT Space?

Although there were some reduction in search volumes of term “NFT,” it is filled by top-notch artists like Eminem, Snoop Dogg, to name a few. Their presence in the NFT, as well as metaverse sector, shows how vital is this concept is.

Recently, when Snoop Dogg joined hands with Gala Music following his acquisition of Death Row Records, folks rushed for acquiring NFTs associated with DoggFather’s music NFTs.

More and more big names are joining the NFT sector, and this initiative presented by LimeWire increases hopes for folks as well as artists involved in music to generate healthy revenues.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing