LimeWire Returns As NFT Market to Proper the Wrongs of Its Troubled Previous – EDM.com
12 years after closing store, LimeWire is again to reckon with its controversial previous—and pave a brand new path ahead.
For the uninitiated, LimeWire was the go-to peer-to-peer file sharing service that dominated the early 2000s. Predating the all-access mannequin of at this time's streaming providers, the controversial platform was used as a workaround for music followers who did not need to buy particular person songs or albums through iTunes and different digital music shops.
It was so simple as downloading and taking part in, although it did put even probably the most formidable antivirus software program merchandise via the wringer. LimeWire's reign successfully got here to an finish when profitable lawsuits initiated by main document labels and music rights-holders resulted in a staggering $105 million in fines.
LimeWire's recognition established the model because the "face" of the net music piracy period, a repute it's pressured to acknowledge head-on.
Why now, you ask? LimeWire's new administration evidently sees a viable path ahead for the model—as an NFT market. Total, Australian entrepreneurs Paul and Julian Zehetmayr are hoping to make use of the model's recognition achieved within the piracy period to draw new customers whereas additionally trying to proper the wrongs of its previous, beginning with getting artists paid this time round.
"LimeWire is returning as a platform for artists, not towards them," CEO Julian Zehetmayr defined. "On LimeWire, the vast majority of the income will go on to the artist, and we will likely be working with creators to permit full flexibility, possession and management relating to their content material."
You'll be able to be part of the waitlist for LimeWire's nascent NFT platform, which is anticipated to launch in Might 2022, here. On the time of writing, over 500,000 individuals have signed up.
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