Limewire which was a popular website from the early 2000s that went defunct in 2010, is making a re-entry in the market with a digital collectible marketplace at the hands of its new owners.
The platform revealed its plans to launch a NFT marketplace focused on the art and music industry. The NFT marketplace is expected to launch in May, and an official NFT with a token reward system is due later this year.
The marketplace will be fully curated and is launching with major artist partnerships from the music industry. LimeWire has also partnered with Algorand for cost and energy-efficient minting.
Given LimeWire’s connection with the music industry, the new era for the brand will be focused on supporting artists and the music industry.
Limewire’s controversial past had been the reason for several lawsuits from music labels and the founder of the platform Mark Gorton agreed to pay $105 million as a penalty to record labels for copyright infringement in May 2011.
The New CEOs of the firm stressed that the relaunch is focused on making things right and building a digital collectible marketplace for the music community.
