Have you used the internet back in 2000? If yes, then you might be familiar with the name of LimeWire. It used to provide content for free like music, videos, and movies and you know what it is all set to launch an NFT Marketplace. We know the news is amazing and in this post, we will explore the news about LimeWire relaunching as LimeWire NFT Marketplace.
News is circulating on social media about the banned company LimeWire. LimeWire was a former file-sharing website, which was shut down in 2010 over copyright claims. Now, LimeWire is set to come back with a twist. You can no longer use its earlier services.
We will be discussing everything about the LimeWire NFT marketplace. This is no doubt an NFT marketplace without dealing in cryptos. Sounds confusing? Let’s start our post to clear all your doubts.
LimeWire NFT Marketplace
LimeWire, the fossiled file-sharing website from 2000 is set to make a comeback as an NFT marketplace. LimeWire was a free platform for peer-to-peer file sharing that was accessible on windows, Mac Os, Solaris, and Linux operating systems.
This platform was used to share music, videos, and movies for free in 2000. Later it was found guilty of assisting users in committing copyright infringement on a massive scale. It was permanently shut down in 2010. LimeWire was one of the most popular file-sharing websites in 2000.
LimeWire has made an announcement of its comeback after more than a decade. This time LimeWire will no longer be a file-sharing website, it will come back as an NFT marketplace.
When Will LimeWire Launch?
LimeWire will relaunch its services in May as a marketplace for training NFTs (Nonfungible tokens), digital assets that will keep a record of ownership for virtual items on the blockchain. Austrian brothers Julian and Paul Zehetmayr bought LimeWire’s intellectual property and other assets last year. They say they’ve been planning to bring the platform back ever since.
What Will LimeWire Host On Its MarketPlace?
The new LimeWire will now focus on music NFTs, allowing users to buy and trade rare items on the marketplace. It will include:
- Limited edition music.
- Unreleased demos.
- Digital merchandise.
Also, check out 7 Best NFT Marketplaces – To Sell And Buy NFTs
How To Purchase On LimeWire?
The platform will list prices in U.S. dollars, rather than crypto, and users will be able to purchase tokens using credit cards. Its payment functionality has been developed in partnership with the start-up Wyre. This will help to have more visitors as the company is not dealing in cryptos.
The company is counting on a more accessible approach to NFTs and an advisory board that includes the manager of the rap group Wu-Tang Clan, Tareef Michael, to attract users.
Julian said in a press conference, “The issue with the NFT market is that most platforms are decentralized. If you look at bitcoin, all the exchanges are making it really easy to buy, trade, and sell bitcoin. There’s no one really doing the same in the NFT space. We’ve obviously got this great mainstream brand that everybody’s nostalgic about. We thought we needed to build a real mainstream user experience as well”.
What Are The Future Plans Of LimeWire?
The brothers say they plan to raise additional capital through the launch of a LimeWire token, which will initially be sold to a select few investors ahead of a public sale later down the line. The token will grant holders the ability to vote on changes to LimeWire’s policies as well as which artists are featured in its music charts. About 10 really big mainstream artists have already signed on to be a part of LimeWire.
Also, check out How To Sell Memes As NFT And Earn Profit!!
We have discussed the LimeWire NFT marketplace in depth. We have discussed its launch date, its content, and NFTs to be sold. We have also gone through how to purchase from LimeWire and its future plans. LimeWire is set to start something new, it looks like a cocktail of NFTs and USD. We can say it is neither a complete crypto marketplace nor the real-world marketplace.
Keep exploring our website to know more about NFTs.
Frequently Asked Questions
Q1. Why Did LimeWire Get Shut Down?
A federal judge found it guilty of assisting users in committing copyright infringement on a massive scale.
Q2. Does LimeWire Still Exist In 2022?
Yes, LimeWire is back in 2022 as an NFT marketplace.