LimeWire Partners with UMG to Return as a Music-Focused NFT Marketplace
After over a decade of biting the dust, the nostalgic peer-to-peer file sharing platform LimeWire is coming back with a new strategy, focus, and management. Thus, the sharing service once associated with piracy announced its transformation into the NFT marketplace in partnership with the leading company Universal Music Group (UMG).
The big comeback was ensured by the “serial founders” Paul and Julian Zehetmayr, co-founders of b2b-software company Stack Holdings. According to founders, the new LimeWire platform will be focused on “NFT newbies,” who feel unconfident in the highly speculative NFT realm.
“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,” Paul Zehetmayr said, adding, “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.”
Now let’s return to the partnership with Universal Music Group. According to LimeWire, UMG will provide all necessary licenses and access to its top-ranking artists, bringing them to LimeWire’s NFT platform. Shortly, UMG users will be able to treat their fans to music NFTs, audiovisual content like music videos, backstage footage, and any other types of digital content — all via the LimeWire NFT platform. With such big names in the UMG family as Def Jam, Capitol Records, Motown, Virgin Music, and others, LimeWire will rapidly climb to the top of global rankings.
The music-focused web3 platform LimeWire has already launched its own LMWR token led by leading venture capital firms, history-making DAOs like DAO Jones, and NFT, and web3 music trendsetters like Steve Aoki. Notably, while everybody’s looking at LimeWire, the company managed to raise a whopping $10.4 million in a private sale of its LMWR token last month.
Currently, both collectors, traders, and creators can register on the LimeWire official website to be among the first to get early access to the marketplace at launch. Stay tuned!