Former peer-to-peer file sharing database LimeWire is returning as a NFT marketplace in May. Under the ownership of Austrian brothers and businessmen Julian and Paul Zehetmayr, LimeWire will offer trading of nonfungible tokens, or NFTs.
The brothers acquired the platform in 2021, a little over a decade after LimeWire closed down over allegations from Recording Industry Association of America about music piracy. The revival of LimeWire will focus on music, allowing users to purchase and trade rare items including unreleased demos, limited editions, and digital merchandise.
“The issue with the NFT market is that most platforms are decentralized,” Julian told CNBC. “If you look at bitcoin, all the exchanges are making it really easy to buy, trade and sell bitcoin. There’s no one really doing the same in the NFT space.”
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