LimeWire’s move toward Web 3.0 continues with the release of a new collection of non-fungible tokens (NFTs) that can be used in the real world. LimeWire Originals is a new collection of 10,000 unique avatar collectibles that exist on the Ethereum blockchain.
LimeWire’s co-CEOs said in a statement that the LimeWire Original NFTs are meant to “form the backbone” of the company’s new Web3 ecosystem and “massively reward holders.”
Original NFT owners will get a lot of perks, like access to every event put on by the company, access to exclusive products, and early access to new NFT releases. Holders will also be able to get LimeWire’s native LMWR ERC-20 token before it comes out later this year.
In March, we told you that the popular site for sharing music between people will come back as an NFT marketplace. This first NFT collection seems to be a kind of key that will let people join the community and put collectors at the center of LimeWire’s future plans.
Access is currently only available to people who are part of the company’s Discord channel and make a special purchase. However, a public drop is planned to happen over time. Each NFT will cost $750.
LimeWire is committed to Web3 and NFTs in a big way
LimeWire’s Originals NFT collection is not the first time the company has worked with Web3 and NFTs. LimeWire announced earlier this year that it would relaunch as an NFT marketplace for “mainstream-ready digital artifacts,” with an initial focus on music. Since then, the platform has been “off to the races” in the Web3 domain.
Last month, LimeWire joined forces with Universal Music Group (UMG) to let artists sell different types of NFTs on its platform. LimeWire now lets UMG artists give fans NFTs of audio recordings, music videos, special behind-the-scenes material, and artwork. The platform plans to add Capitol Records, Def Jam, Virgin Music, and Interscope Records to its list of services.
Also, the company just got $10.4 million from a private sale of its LMWR token, which was driven by Decentralized Autonomous Organizations (DAOs) and venture capitalist companies.
We’ll have to wait and see if LimeWire can come back as a Web3 company, but its experience in the music business and with peer-to-peer file sharing should give it a chance. We’ll be on the lookout for more details about LimeWire’s upcoming NFT release.