Part of the company’s strategy rests on allowing users to buy NFTs with regular dollars and cents.

Ivis Buric, LimeWire’s chief communications officer, tells us that the platform’s NFT marketplace will cater both to mainstream audiences and to crypto natives who are already deeply involved in the space.

In tandem with this lucrative licensing deal, LimeWire is focused on tackling one of the thorniest problems facing music in Web3: getting average fans to overcome NFT-phobia and make their initial purchase, a process known as ‘onboarding’. This mindset may lead to starkly different buying patterns than those seen in the investor communities that have dominated much of Web3’s initial development. Bridging this aspect of music culture into Web3 could have significant impacts across the industry.įor the most part, many music collectors don’t view their purchases primarily as speculative financial assets to be resold at profit, but as a way to feel more connected to the artist and the music. It’s not hard to see why, considering that many music fandoms centre around collecting memorabilia, merchandise and backstage experiences. While the old LimeWire granted access to all manner of music, movies and computer viruses, the relaunched platform will initially focus on music NFTs. The world’s largest major label had previously dipped their toes in non-fungible waters when they signed a collection of Bored Ape NFTs as a musical group – but this deal is a different order of magnitude, signalling that UMG is diving in headfirst and potentially bringing content from outfits like Def Jam Recordings, Interscope Records, and Virgin Music to LimeWire’s NFT marketplace. In a move that would have once been unthinkable, LimeWire has struck a licensing deal with their one-time adversary, Universal Music Group. Oh, and this time LimeWire is going legit and working with some of the same industry players that tried to sue them into an early grave. LimeWire, the iconic purveyor of illicit ear-candy was purchased in 2021 by Austrian brothers Julian and Paul Zehetmayr, with a plan to relaunch the platform as an NFT marketplace sometime in 2022. What can these legacy brands bring to the Web3 music community? Is this just a nostalgia cash-grab? Or can these reborn platforms couple name-recognition with some actual innovation?

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