The previously discontinued file-sharing website, LimeWire, is currently planning a comeback as they look to relaunch themselves as an NFT marketplace. The site was taken down back in 2010 after a federal judge made the executive decision that “the platform caused copyright infringement on a massive scale,” according to the court: The business was on the receiving end of a long-term legal battle against the Recording Industry Association of America, which they eventually lost. Presently, the company looks to boost itself back into the limelight as they are working on a system to make LimeWire a marketplace for trading NFTs or ‘digital assets that have past records of ownership.’
Co-founder of LimeWire, Julian Zehetmayr, made a public announcement this past Wednesday, March 9, 2022, in light of his corporation’s recent actions. “The issue with the NFT market is that most platforms are decentralized,” he stated. “If you look at bitcoin, all the exchanges are making it really easy to buy, trade, and sell bitcoin. There is no one really doing the same in the NFT space.” Zehetmayr went on to continue his statement with, “We have obviously got this great mainstream brand that everybody’s nostalgic about… We thought we needed to build a real mainstream user experience as well.”
Throughout the entirety of 2021, NTF values flew through the roof as they have propelled themselves to individually be worth billions of dollars, making it a well-thought-out lane to step in for LimeWire CEOs Julian and Paul Zehetmayr. “Even if you look on Twitter today, there are hundreds of people still being nostalgic about the name,” Paul stated. “Everybody connects it with music and we are launching initially a very music-focused marketplace, so the brand was really the perfect fit for that with its legacy… It is a very iconic name.”
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