Ahh, it’s nice to see an old face, isn’t it? Like that crypto bro who resurfaced in your Instagram DM’s after buying a digital version of a rock, LimeWire has returned as an NFT Marketplace. Formerly a peer-to-peer (P2P) file-sharing website that helped launch the career of Soulja Boy – while simultaneously costing artists millions of dollars in lost revenue – the tide has turned and a number of those very same artists are now calling the brand home in a bid to pedal their burnt-out NFT Projects.
LimeWire NFT Marketplace
Travis Barker, of Kourtney Kardashian acclaim (oh, and Blink-182), is a name we definitely didn’t expect to see aligned with the announcement of LimeWire becoming an NFT Marketplace. In a statement on the release of his NFT Project, the drummer noted his aspiring journey and anticipation for Web3;
“I have always been interested in Web3 and NFTs so I am pretty stoked to release my first NFT collection and to do it on LimeWire… I hope that my NFT collection will inspire aspiring artists and fans who want to learn about my creative journey and how I make music. LimeWire has created a platform that makes exciting content like this accessible to all of my fans – even ones who are unfamiliar with Web3,” he said.
What’s the Plan?
LimeWire hopes to turn itself into the “one-stop marketplace for artists and fans alike to create, buy and trade digital collectibles without the technical crypto requirements of the current NFT landscape.” Ultimately, housing “music-related assets” such as limited-edition releases, unreleased demos, exclusive live versions, digital merch, and more, which fans can buy, sell, and trade.
Statements from co-CEOs Julian and Paul Zehetmayr can be read to further explain the re-brand below.
“The biggest challenge with digital collectibles and the broader crypto market, in general, is that it’s really limited to a small group of savvy users. There are big players on the market already, but the entry barrier is still too big to allow for mainstream adoption. Most music fans do not own any cryptocurrency or have access to a crypto wallet, let alone understand the mechanics of collectibles on the blockchain. We want to remove all those obstacles and make it easy for people to participate, while at the same time offering an exciting platform for crypto natives,” said Paul.
“In an increasingly difficult industry with streaming taking over and ownership taking a back seat, we are working to give artists full flexibility and control when it comes to their content. LimeWire will not be an alternative to streaming platforms, but rather an additional channel for artists to sell exclusive music and art directly to collectors and to engage with their most loyal community of fans,” said Julian.
To be fair on LimeWire, if they are able to offer tangible physical assets – that people actually want and need, unlike the NFT Corvette – then the brand should find a great deal of success. As for Soulja Boy’s Edition #1 song’s current sale price of $7000 USDC, we hope owner @1fn23m22l7 at least records the song on his phone before selling the receipt.
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