If you were on the Internet in the early-2000s, you know the grip that LimeWire had on music listeners across the globe. What started out as a file-sharing software ended up being a god-send for those looking to download music and movies without paying a cent (aka, illegally). LimeWire was the it girl, up until several lawsuits forced the owners to shut down. The demise of LimeWire was met with lots of dismay, but now it's back. Meet the new LimeWire: a music NFT marketplace.
LimeWire’s return comes during a time of uncertainty for the future of NFTs. The market has seen several downturns this past year, but that hasn’t put a damper on new owners Julian and Paul Zehetmayr’s goals. They purchased LimeWire’s intellectual property a year ago, and have been crafting the company’s comeback ever since. Just as the OG LimeWire served as a place to easily access music, the new LimeWire looks to make the world of NFTs accessible to music enthusiasts, and empower artists and creators. Unlike many NFT marketplaces, LimeWire users can use a credit card to purchase NFTs.
“We want to bring the NFT world to the mainstream and to people who aren’t into that right now,” said Ivis Buric, Chief Communications Officer at LimeWire. “NFTs aren’t just another buzzword—they can bring benefits to people’s lives.”
The folks at LimeWire are tapping into two markets that are often confusing and filled with barriers to access—the music industry and the crypto/NFT space. For musicians dealing with income limitations due to pesky record deals, LimeWire presents an opportunity for artists to add another revenue stream to their roster. For the average music fan, LimeWire hopes to clear the path for NFT ownership.
As Buric puts it, the new LimeWire is about “giving more power to people, especially artists and creators. It’s about getting paid, creating new projects, and having ownership of your work.” LimeWire will outcompete Spotify in terms of artist compensation, offering much more revenue to artists than the streaming platform does.
And don’t worry, this time, LimeWire is partnering with record labels like Universal Music Group to propel its efforts and hopefully, avoid another legal showdown.
Will you channel your early-2000s nostalgia and use the new LimeWire?
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