A new team is resuscitating the popular inactive file-sharing platform LimeWire and rebranding it as an NFT marketplace for art and entertainment.
LimeWire, upon re-launch, will first focus on music-related digital collectibles and allow users to create, buy and trade NFT collectibles with ease.
The NFT marketplace, which plans to launch this year in May, plans to list music-related digital collectibles, including limited editions, pre-release songs, unreleased demos, music artwork, exclusive live versions, and digital merchandise and backstage content.
In a bid to appeal to a mixed audience with different NTF orientations, LimeWire will price NFTs in U.S. dollars. It also partnered with payment startup Wyre to accept credit card payments, bank transfers, and other fiat currency payments.
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As a publicity push to grow its users base, LimeWire is building a wait list. It plans to airdrop 10,000 exclusive NFTs to users at the time of launch.
According to the co-CEOs Paul Zehetmayr and Julian Zehetmayr, the music-centric marketplace will support artists by giving them up to 90% of the revenue generated from their work.
“On LimeWire, the majority of the revenue will go directly to the artist, and we will be working with creators to allow full flexibility, ownership, and control when it comes to their content,” the co-CEOs said.
LimeWire shut down in 2010 following a slew of charges relating to copyright infringement.