A former music downloading platform has returned years after shutting down and has its eyes on changing the music NFT sector. Here’s a look at how LimeWire is relaunching and leaning into a nostalgic factor.
What Happened: LimeWire has relaunched as a NFT marketplace with a focus on collections from some of the world’s best selling artists, as reported by Hypebeast.
The company lost a copyright infringement battle versus the Recording Industry Association of America in 2010, which led to its shutdown.
Julian and Paul Zehetmayr acquired the naming rights for LimeWire earlier this year with plans to relaunch the brand as a “mainstream ready, digital collectibles marketplace for art and entertainment, initially focusing on music.”
The company offers easy signups and NFT purchases with credit cards, which could make it easier than other marketplaces and onboard additional people to the NFT space. The company is using the Algorand ALGO/USD blockchain for its NFTs.
LimeWire partnered with artist Soulja Boy and featured his song “Crank Dat (Soulja Boy)” in a commercial that celebrates the past of the company and the future.
“LimeWire is back. Your place for music NFTs,” the company said.
LimeWire_is_back_for_good.mp3#LimeWire returns in full power, with high-profile #NFT drops from the world’s best-selling artists.
Don’t miss out on all exclusive drops. Register now: https://t.co/4Vf39XgF7w#digitalcollectibles #web3 pic.twitter.com/pGI4oF7dur
— LimeWire (@limewire) July 7, 2022
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Why It’s Important: Many people remember using LimeWire to download songs on the peer-to-peer service.
LimeWire is fairly new to the NFT space and has already landed deals with Soulja Boy and Travis Barker for NFT collections.
The commercial and its nostalgic touch could go a long way in LimeWire establishing itself in the NFT marketplace space.
“LimeWire is returning as a platform for artists, not against them,” is a tagline the company announced with its plans to launch the marketplace.
The company joins peer-to-peer music download company Napster as another brand attempting to revive itself in the Web3 space.
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