LimeWire and Algorand to Relaunch Digital Collectibles Marketplace

LimeWire announced that it would soon relaunch its digital collectibles in the NFT marketplace. For this purpose, it has partnered with Alogrand Blockchain. The energy-efficient network was the prime choice for LimeWire to proceed with the relaunch of its collectibles because of its reputation of being the first one to become a carbon-negative blockchain.

The relaunch of digital collectibles will be followed by LimeWire coming up with its own token in the Crypto ecosystem. The launch of LimeWire’s token is tentatively scheduled for later this year.

Background

LimeWire is already an established marketplace for digital collectibles. It caters to those seeking to buy or trade in the category of music, art, and entertainment. LimeWire is now taking its marketplace to a broader platform. This will be complemented by enhanced user experience, zero technical hurdles, and offering traditional payment options.

Algorand will enable it to leverage the benefits of Web3. Algorand was founded by cryptographer Silvio Micali, the winner of the Turing Award. The company aims to build a technology that will support the future of finance, something that has been termed FutureFi. It will additionally power the perfect blend of decentralized models and traditional models of finances.

The Relaunch

By relaunching the digital collectibles in the mainstream marketplace, LimeWire is eyeing to become the one-stop marketplace for all the artists and their fans. It was earlier focusing only on the musical category, but it will now enable the users to buy or trade their favorite digital collectibles in art and entertainment as well.

LimeWire aims to eliminate all the technological hurdles that anyone could face on the platform. This would surely come in handy as it is working hard to get at least one million users to register on the platform. Since everyone’s technological compatibility will vary, it will become crucial for the platform to become user-friendly for everyone.

The platform is also working to partner with several artists from the music industry.

Once the partnerships are established, LimeWire will be able to offer a variety of collections to its users and the fans of their respective artists. For instance, users & fans will be able to buy or trade unreleased demos, limited editions, graphical artwork, and exclusive live versions along with backstage content & digital merchandise.

Those who are getting started with non-fungible tokens for the first time will indeed find it easier to operate their accounts. LimeWire, for the very same purpose, will offer a quick & easy sign-up process and digital items priced in US dollars. The KYC process will also be as seamless as possible.

Another element that LimeWire will take care of is the requirement to have a digital wallet. Those who get on board on the platform will be able to buy or trade their favorite digital collectibles without having a digital wallet. They will only need access to their credit card, fiat payment gateways, and/or bank transfers.

Also to mention, LimeWire’s launch of its own token is tentatively scheduled later in the year. Stay updated to get your fair share of the token on time.