LimeWire NFT raises close to $18 million
LimeWirethe platform dedicated to NFT content creators and artists, has raised $17.75 million through the sale of its LMWR tokens.
Now it’s time to move on to the next development steps.
LimeWire NFT raised $17.75 million through the sale of LMWR
LimeWirethe platform that has relaunched itself in the NFT industry announced that it has raised $17,750,000 from the sale of LMWR, its initial token.
Essentially, this is one new version of LimeWireformerly known as a torrenting solution when it operated as a peer-to-peer file-sharing service in the 2000s.
Now, LimeWire NFT calls itself a platform dedicated to content creators, artists and brands to create member-based communities. In practice, creators can create recurring revenue streams by offering fans exclusive access to their community and their journey as artists.
Its LMWR token acts as an exchange currency on the platform and offers holders several benefits, including voting rights in the community and early access to goods.
Through the sale of LMWR, LimeWire has raised an amount that will allow it to continue with its next development steps focused on its new NFT marketplace.
LimeWire NFT and the new platform for content creators and artists
Relaunching LimeWire were the platform’s new co-CEOs, Julian and Paul Zehetmayrtwo Austrian brothers who bought the rights to LimeWire from the previous owners.
Their mission is being able to leverage nostalgia to turn a 2000s cultural milestone into a Web3 success story.
And indeed, while the plan is now to make LimeWire NFT the platform par excellence for content creators and artists, the Zehetmayr brothers had already put their strategy into practice when they launched LimeWire game.
Even at that time, an initial public sale of LMWR took place, while the desktop-only game asks players to visit the old LimeWire by downloading as many songs from the early 1980s as possible (without hitting a virus). Players with the six highest scores were awarded LMWR tokens as a reward.
In contrast, when we talk about first wave of LMWR distribution, the sale was private and ended in April last year with the raising of more than 10 million dollars and support from musicians such as Deadmau5 and Steve Aoki.
To date, this relaunch of LimeWire NFT will serve to work together with artists, and to facilitate exclusive music experiences.
LMWR’s listing on major crypto exchanges and price dump
From yesterday, LMWR was listed on major crypto exchanges by ByBit, Kraken, KuCoin, Gate.io, Crypto.com, Bitpanda and others.
Taking a look at CoinMarketCap, LMWR’s price history begins yesterday, May 16. LMWR landed on the market at a price of $1.92 and has dumped 85% to touch $0.29 at the time of writing.
In this regard, LimeWire explained the situation to its most concerned traders as follows:
