LimeWire – the piracy site most people used to illegally download music back in the day – is re-launching as a “digital collectibles marketplace” very soon.
The re-brand marks a complete turn around for the brand which was ordered to shut down in 2010 oover inducing copyright infringement.
When LimeWire’s in return in May it will initially focus on music and be “a one-stop marketplace for artists and fans alike to create, buy and trade digital collectibles without the technical crypto requirements of the current NFT landscape”.
The company aims to “to bring digital collectibles into the mainstream” and will allow music fans to buy and trade music-related assets – such as limited edition releases, unreleased demos, artwork and more – on their marketplace.
LimeWire co-CEO Paul Zehetmayr said in a statement that “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”.
“There are big players on the market already, but the entry barrier is still too big to allow for mainstream adoption. Most music fans do 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.”
Julian Zehetmayr, LimeWire co-CEO, added: “In an increasingly difficult industry with streaming taking over and ownership taking a back seat, we are working to give artists full flexibility and control when it comes to their content.
“LimeWire will not be an alternative to streaming platforms, but rather an additional channel for artists to sell exclusive music and art directly to collectors and to engage with their most loyal community of fans.”