LimeWire is back, kind of. The famed peer-to-peer file-sharing network is under new ownership and is relaunching — although, in an extremely 2020s twist, it's now a marketplace for music NFTs.
Australian entrepreneurial brothers Paul and Julian Zehetmayr have bought LimeWire's iconic branding. The new company is called LimeWire GmbH, and it will launch in May. None of LimeWire's original team is involved.
Paul Zehetmayr told Bloomberg, "Everybody connects it [the LimeWire brand] with music, and we're launching initially a very music-focused marketplace." This means musicians and fans can buy, sell and trade music-related NFTs. This can include merch, graphics, songs and experiences. According to Julian, there are 10 or so "really big mainstream" artists signed on to take part so far.
LimeWire will use its own utility token, akin to a loyalty program, and everything on the service will be valued in USD (rather than in cryptocurrencies). Learn about NFTs, and what they mean for the music industry, here.
LimeWire initially launched in 2000, and the courts shut it down a decade later, in 2010. The Recording Industry Association of America sued in 2007, and creator Mark Gorton paid labels $105 million USD in an out-of-court settlement in 2011.
Australian entrepreneurial brothers Paul and Julian Zehetmayr have bought LimeWire's iconic branding. The new company is called LimeWire GmbH, and it will launch in May. None of LimeWire's original team is involved.
Paul Zehetmayr told Bloomberg, "Everybody connects it [the LimeWire brand] with music, and we're launching initially a very music-focused marketplace." This means musicians and fans can buy, sell and trade music-related NFTs. This can include merch, graphics, songs and experiences. According to Julian, there are 10 or so "really big mainstream" artists signed on to take part so far.
LimeWire will use its own utility token, akin to a loyalty program, and everything on the service will be valued in USD (rather than in cryptocurrencies). Learn about NFTs, and what they mean for the music industry, here.
LimeWire initially launched in 2000, and the courts shut it down a decade later, in 2010. The Recording Industry Association of America sued in 2007, and creator Mark Gorton paid labels $105 million USD in an out-of-court settlement in 2011.
