Limewire, a popular peer-to-peer file-sharing site from the early 2000s that shut down in the 2010s, is entering the market with the digital aggregation market in the hands of its new owners.

In an official statement on Wednesday, the platform announced its plans to launch a non-fungible token (NFT) marketplace focused on the arts and music industries. The launch of the NFT market is expected in May and the official NFT system will be introduced later this year.

The market will be fully curated and launched in partnership with major artists from the music industry.

Brothers Paul and Julian Zethmire bought the rights to the company in hopes of resurrecting the brand in the Web3 era. With LimeWire’s association with the music industry (used primarily for downloading pirated songs), the brand’s new era will focus on supporting artists and the music industry.

The managing brothers addressed the platform’s controversial past and stated that it was one of the main reasons for resurrecting the brand and supporting real artists and their content.

RELATED: Crypto.com Sends LeBron James NFT Kit to Eagle Eyes of Super Bowl Ad Viewers

“LimeWire will return as a platform for artists, not against them. At LimeWire, the majority of revenue will go directly to the artist, and we will work with creators to ensure full flexibility, ownership, and control over their content,” said Julian.
Limewire’s controversial past has led to numerous lawsuits from music companies, with the platform’s founder Mark Gorton agreeing to pay record companies a $105 million fine for copyright infringement in May 2011.

Company executives emphasized that the relaunch is about doing things right and creating a massive digital market for the music community.

Source: CoinTelegraph

LEAVE A REPLY