The dead file-sharing site “LimeWire” has been revived by Austrian entrepreneurs Paul and Julian Zehetmayr. A new marketplace for Non-Fungible Tokens (NFT) will be launched under the name LimeWire GmbH, first focusing on music content.
“LimeWire will not be an alternative to streaming services, but rather an additional avenue for artists to sell exclusive music and art directly to collectors and communicate with their most dedicated group of fans,” explains Julian, Co-CEO and Founder of LimeWire GmbH.
Previously, LiveWire served unauthorized downloads and was sued by the music industry and artists.
The Recording Industry Association of America and LimeWire settled for USD 105 million, resulting in a ‘permanent injunction’ against the company. Former LimeWire CEO Mark Gorton and record labels settled out of court.
The new team took this into account and implemented strict anti-money laundering inspections, as well as having Ernst & Young (EY) audit all activities.
Users can join a waitlist to be alerted when the new NFT market site launches in May. In other words, NFT collectibles can be purchased immediately via credit card, bank transfer, or other methods.
“We want to erase all those barriers and provide an engaging platform for crypto natives,” says co-CEO Paul.
Currently, the founders are working with artists on exclusive content. Plan B is to expand content to the film business by the fourth quarter of 2022. The new LimeWire also hopes to find new ways for artists to communicate with their audience.