Anyone around in the late ‘00s knows all too well the importance LimeWire once had on mainstream pop-culture. At the height of its success, LimeWire was a peer-to-peer file-sharing site that allowed its users to download music and other content online free of charge. The controversial platform was deemed to have infringed upon copyright laws, and was eventually shut down in 2010 following a lengthy battle with the Recording Industry Association of America.
And now, after more than 10 years removed from the spotlight, the now defunct file-sharing source is making a comeback. This time around, however, the service will relaunch as a marketplace for those into trading NFTs.
Purchased last year by Julian and Paul Zehetmayr, the Australian brothers have uncovered a way for LimeWire to dip its toes back into the music industry. As a result, the new site will allow users to buy and trade rare items such as limited editions, unreleased demos and digital merchandise.
“The issue with the NFT market is that most platforms are decentralized. If you look at bitcoin, all the exchanges are making it really easy to buy, trade and sell bitcoin. There’s no one really doing the same in the NFT space,” Julian Zehetmayr told CNBC. “We’ve obviously got this great mainstream brand that everybody’s nostalgic about. We thought we needed to build a real mainstream user experience as well,” he added.
Look out for the new LimeWire rebrand this coming May.
In other NFT-related news, Michael Jordan and his son Jeffrey are launching their first NFT collection through their new Web3 platform HEIR.