Crypto News

LimeWire To Return As An NFT Marketplace

LimeWire, the peer-to-peer file-sharing website that shut its doors in 2011, is coming back this May with new owners and a focus on NFTs. The brand synonymous with sharing (and illegally downloading) music and videos will now turn its eye to those media forms as part of an NFT marketplace “without the technical hurdles of the current NFT landscape.”

LimeWire’s resurrection comes courtesy of “serial founders” Paul and Julian Zehetmayr, co-founders of the b2b-software company Stack Holdings. The duo is positioning the new LimeWire as a service to onboard “NFT newbies” that may want to participate in the highly-speculative market even if they don’t have a good grasp of the crypto space.

“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,” said Paul Zehetmayr. “If you are an average music fan on the internet, you might 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.”

One major way LimeWire claims it will accomplish this is by offering more traditional payment methods that don’t require a crypto wallet. Users will be able to buy NFTs and other digital collectibles via credit cards, bank transfers, and other common means through a partnership with the payment platform Wyre.

Where LimeWire is attempting to separate itself is in what those purchases get you. “It’s important to note that we are not relaunching LimeWire as an alternative to streaming platforms, but rather as an additional channel for artists to sell exclusive music and art directly to collectors,” added Julian Zehetmayr. “We will also offer a unique method for artists to connect and engage with their most loyal community of fans.”

(All information was provided by Paste Magazine)

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