The new, NFT-focused model of LimeWire has raised $17.5 million by a token sale
LimeWire has taken one other step towards its impending relaunch. The platform that operated as a peer-to-peer file-sharing service within the 2000s has raised $17.5 million by the general public sale of its LMWR crypto token.
Although it grew to become notorious as a haven for torrenting, LimeWire now has its sights set on a distinct enterprise mannequin. Working alongside artists, the relaunched model of the platform will use NFTs to facilitate unique music experiences. The key to that ecosystem is the LMWR token, which serves as a type of forex on LimeWire and supplies holders with several perks, together with neighborhood voting rights and early entry to merch.
“LimeWire is a platform for content creators, artists, and brands to create membership-based communities,” reads a quick description on the LMWR homepage. “Creators can build recurring revenue streams by offering fans exclusive access to their community and journey as an artist. Through blockchain technology, we make exclusive content and assets ownable and tradeable, allowing fans to not only consume content but also to directly participate in the success of the creators they support.”
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