A few days ago, the news reported that LimeWire would relaunch as an NFT marketplace, led by Austrian brothers Julian and Paul Zehetmayr.
LimeWire today announced the choice of the Algorand blockchain to power the relaunch of its digital collectibles marketplace.
Algorand was primarily selected for its carbon-negative blockchain, scalability, security, and reliability.
We have partnered with @Algorand as our official blockchain partner. Why Algorand?— LimeWire (@limewire) March 14, 2022
✅ It's carbon-negative since 2021
✅ Algorand is scalable, fast and secure …
✅ … which makes it perfect for NFTs
✅ Consequently, we'll be able to offer free NFT minting pic.twitter.com/cxwlDixRy6
LimeWire will not only mint digital collectibles on Algorand, but will also launch a token later this year that will provide members with exclusive community access, voting mechanisms, and rewards.
Steven Kokinos, Algorand CEO, said: “We are excited to see LimeWire launching on the Algorand blockchain and see massive potential for them to take the music collectibles market by storm. The interest for digital collectibles will only be growing and we are eager to support a global brand like LimeWire entering into the space to help open up the market to the mainstream.”
Through partnerships with major artists in the music industry, LimeWire hopes to bring digital collectibles to the mainstream and onboard a million users within the first year.
Music fans and collectors will have access to a variety of music-related assets such as limited editions, prerelease music, unreleased demos, exclusive live versions, backstage content, as well as digital merchandise, and behind-the-scenes content.
With its upcoming release in May 2022, LimeWire NFT marketplace will include a lineup of big names in the music industry and allow small- and medium-sized artists access to the platform from the start.
Creators and artists who are interested in joining the marketplace at launch can join the LimeWire waitlist.