LimeWire returns on Web3, featuring LMWR token

Do you recall LimeWire, the now-defunct peer-to-peer file-sharing service that dominated the early 2000s?

At its peak, LimeWire had over 50 million monthly active users. However, in 2010, the filesharing website was shut down by a U.S. federal court following a lengthy four-year legal battle.

Given the platform’s rebellious nature, it’s perhaps fitting that LimeWire is making a comeback on the blockchain. After teasing a tokenized offer for months, the new version of the well-known peer-to-peer service has been unveiled. But it’s markedly different from what you might remember.

The most recent version of LimeWire

Since its inception in May 2000, it is safe to state that LimeWire has undergone substantial changes. After being shut down in October 2011, the legacy platform appeared to be in limbo until Austrian industrialists Julian and Paul Zehetmayr acquired the brand rights in 2021.

During the first NFT boom, the two probably saw similarities between the rebellious, peer-to-peer NFT culture and LimeWire at its peak. This is how they came up with the idea to put LimeWire on the blockchain as an NFT marketplace. Now, the “new LimeWire” has come out to help fans and artists change the way they share information and connect to each other.

The LimeWire website says that the new LimeWire is “a platform for content creators, artists, and brands to create membership-based communities for their most passionate fans.”

The revived LimeWire has a goal of assisting content creators in developing consistent revenue streams through offering a platform and structure for direct fan membership. Fans will benefit from gaining access to unique content, a private community, the capacity to communicate with artists and brands they endorse, and being a part of their growth.

LimeWire will serve as a Web3 subscription platform, similar to an NFT fan club, tailored for music creators and consumers to build communities.

“The new LimeWire, initially relaunched in mid-2022 as a marketplace to buy, sell and trade digital collectibles, has now evolved into a fully-fledged membership platform,” the LimeWire website explains. “Through blockchain technology, we make exclusive content and assets ownable and tradeable, allowing fans to not only consume exclusive content but also to participate directly in the success of the creators they support.”

What is LimeWire’s plan for utilizing blockchain technology?

LimeWire is using an Ethereum-based token called LMWR to fund their new platform and enhance the user experience. The public sale of one billion tokens launched on May 2, 2023, and raised over $2 million within 2 hours.

What will LMWR token be used for?

It is a community and utility token that will likely play a role in all LimeWire activities, especially the fan-artist economy. To join LimeWire’s blockchain-powered inner circle, investors may purchase it when it becomes available on crypto exchanges.

Content Source: nftnow.com

The post LimeWire returns on Web3, featuring LMWR token appeared first on NFT News Pro.