Limewire reappears, based on a network protocol that works on a peer-to-peer (P2P) basis, that is, used to share data between two or more clients.
LimeWire, one of the most used programs in the file sharing trend that started with the music download platform Napster in the 2000s, is getting ready to enter our lives again after more than 10 years.
According to the statement, Limewire will be reborn as an NFT market in May. Users will be able to buy and sell NFTs prepared with a focus on music. Limewire, which will be an alternative to the NFT exchange that is currently on OpenSea, aims to stand out with the support of major music artists after its release.
Austrian investor brothers Julian and Paul Zehetmayr bought the intellectual property rights of LimeWire last year. In their statement, the two brothers stated that they had this idea since they bought LimeWire and finally implemented it.
Speaking to CNBC from the US media, Julian Zehetmayr emphasized the brand name of LimeWire.
"It was important to do business using a brand known in the mainstream. We wanted to use a big name to do business that could deliver quality to users."
The new LimeWire will also focus more on music-themed NFTs as before, and many limited edition songs, demos and other digital items can be traded on the platform. The platform will set prices in US dollars instead of cryptocurrencies, and users will be able to purchase tokens using their credit cards.
The two brothers also announced that they will also issue LimeWire tokens to raise additional budget, and they will be distributing in two ways, a pre-sale and a general sale. Users who own the token will have the right to vote on changes to LimeWire's management policies and which artists can be featured on the charts.