LimeWire, the previous music file-sharing platform, has officially opened the waitlist for its NFT marketplace. The effort, that two serial entrepreneurs from Austria led, comes with various music partners, involving Travis Barker, the drummer of Blink 182.
The NFT Marketplace provides a variety of original music NFTs from artists such as Barker, Nicky Jam, Brandy, A$AP TyY and British rapper Aitch. It’s not just songs that LimeWire sells as NFTs, but also real-world items. For example, Barker’s fans can buy a real-life drum set. Brandy’s followers can purchase a complete bouquet of flower with Spoken Word.
LimeWire has created a waitlist with at least 10,000 slots for the marketplace opening. Signing up is simple and needs only entering an email address and passing an “I’m not a robot” test. Those who register and participate in the invitation-style contest can get one of 10,000 NFTs which are part of LimeWire’s first NFT series.
As part of the rebranding from a file-sharing platform to the NFT marketplace, LimeWire is releasing its own token – $LMWR. The team will initially present the $LMWR token as part of a public sale (a technique usually used to raise extra funds) and will likely be available for public trading.
Julian and Paul Zehetmayr, the two Austrian entrepreneurs, stated that the platform helps “artists of all sizes and genres” communicate with their fans, gain exposure in an exclusive way, and retain more revenue. All are sticking points for musicians under the present recording label system.
LimeWire has got traction over the past few months
LimeWire made waves when it revealed in March that it was coming back as an NFT platform. The turn from an illegal file-sharing site to an NFT marketplace definitely got a lot of publicity for it. Below is a brief timeline of its return.
• Four months ago, it was reported that LimeWire was back. At the time, the two Austrian entrepreneurs aimed to release the NFT marketplace in May. Thereafter, the two stated that the concentrate would be on music NFTs rather than a broad general NFT site such as OpenSea.
• Second, LimeWire revealed two months ago that it had reached an agreement with Universal Music Group. Under this agreement, LimeWire can contact UMG artists to sell NFTs via the platform. At the time, the company stated the collaboration reflected the space in which the music industry was embracing Web3.
• Ultimately, LimeWire announced that it will provide an initial set of 10,000 NFTs which would form the “backbone” of the company. Holders of LimeWire NFTs would be entitled to numerous benefits, involving events, rare goods, and early entry to upcoming NFT drops.
Currently, news which LimeWire has opened its waitlist indicates that the company is moving forward. The cooperation it has now made show that music fans may have an ideal experience
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