LimeWire Relaunches: "not as an alternative to streaming platforms"

LimeWire, formerly known for free peer-to-peer file sharing, has announced it is relaunching in May as a mainstream-ready digital collectibles marketplace for art and entertainment, initially focusing on music.

From May onwards, LimeWire will be a one-stop marketplace for artists and fans alike to create, buy and trade digital collectibles without the technical hurdles of the current NFT landscape.

The company aims to bring digital collectibles to the mainstream and onboard one million users within the first year through partnerships with major artists in the music industry. Those interested can join the waitlist and will be notified once the marketplace is live in May.

The idea is that music fans and collectors will be able to buy and trade a variety of music-related assets, such as limited editions, pre-release music, unreleased demos, graphical artwork, exclusive live versions, as well as digital merchandise and backstage content.

“In an increasingly difficult industry with streaming taking over and ownership taking a back seat, we are working to put artists and give them full flexibility and control when it comes to their content,” said Julian Zehetmayr, LimeWire co-CEO.

“It’s important to note that we are not relaunching LimeWire as an alternative to streaming platforms, but rather as an additional channel for artists to sell exclusive music and art directly to collectors. We will also offer a unique method for artists to connect and engage with their most loyal community of fans.”

LimeWire aims to make onboarding easy for NFT newbies, with a quick and easy signup, seamless KYC and items priced in US dollars.

There is no crypto wallet prerequisite, and users will be able to purchase collectibles directly via credit card, bank transfer and other fiat gateways thanks to a close partnership with payment platform Wyre.

“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,” added Paul Zehetmayr, LimeWire co-CEO.

“There are big players on the market already, but the entry barrier is still too big to allow for mainstream adoption. If you are an average music fan on the internet, you might 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.”

LimeWire says it is working with top-tier artists to create different types of exclusive content, from unique and pricey one-of-one items all the way to collections that are attainable for and attractive to larger audiences.

The company is doubling down on the community aspect of NFTs by allowing artists to open up channels of communication inside LimeWire to engage with their most loyal group of fans and buyers directly.