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News

Limewire’s Blockchain Comeback: $16M in Funding Secured

May 9, 2023 - Around 2 mins mins to read

Key Points:

  • LMWR raised over $16M for its blockchain-focused revival.
  • LMWR surpassed its $15M funding goal and is over half-way to its $30M fundraising limit.
  • LMWR’s revived version is a platform for music artists to create content on blockchain-based content.
Limewire announced that it had raised over $16 million for its revived platform through sales of its cryptocurrency token (LMWR).
Limewire

The company successfully surpassed its initial funding goal of $15 million and is on its way towards its $30 million fundraising limit.

The project’s website also revealed that the sale will end on May 11 and that the LMWR token will be listed on four major exchanges starting on May 16. In order to raise funds, Limewire accepted both fiat and cryptocurrencies, such as Ethereum (ETH), Bitcoin (BTC), USD Coin (USDC), Tether (USD), and Binance Coin (BNB). During the week of May 6, LMWR added support for XRP, Cardano (ADA), and Polygon (MATIC) payments.

Limewire rose to fame as a file-sharing service active in the early 2000s. However, the platform became notorious for enabling copyright infringement of music and subsequently faced legal challenges from the recording industry. Limewire was eventually forced to shut down around 2010.

Despite its past, LMWR’s revived version is now focused on serving as a platform for music artists. Creators will be able to generate blockchain-based content, which they can monetize with cryptocurrency rewards, payments, and subscriptions. Additionally, all content on the platform will be stored and traded as non-fungible tokens (NFTs), allowing creators to offer their fans unique digital items and experiences.

Limewire evolve from a controversial file-sharing service to a platform that supports the artistic community and the emerging world of NFTs. With Limewire’s diverse range of accepted payment options and the potential for unique NFT offerings from creators, it is no wonder that the platform has already surpassed its initial fundraising goal.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News

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Limewire's Blockchain

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Limewire’s Blockchain Comeback: $16M in Funding Secured

Key Points:

  • LMWR raised over $16M for its blockchain-focused revival.
  • LMWR surpassed its $15M funding goal and is over half-way to its $30M fundraising limit.
  • LMWR’s revived version is a platform for music artists to create content on blockchain-based content.
Limewire announced that it had raised over $16 million for its revived platform through sales of its cryptocurrency token (LMWR).
Limewire

The company successfully surpassed its initial funding goal of $15 million and is on its way towards its $30 million fundraising limit.

The project’s website also revealed that the sale will end on May 11 and that the LMWR token will be listed on four major exchanges starting on May 16. In order to raise funds, Limewire accepted both fiat and cryptocurrencies, such as Ethereum (ETH), Bitcoin (BTC), USD Coin (USDC), Tether (USD), and Binance Coin (BNB). During the week of May 6, LMWR added support for XRP, Cardano (ADA), and Polygon (MATIC) payments.

Limewire rose to fame as a file-sharing service active in the early 2000s. However, the platform became notorious for enabling copyright infringement of music and subsequently faced legal challenges from the recording industry. Limewire was eventually forced to shut down around 2010.

Despite its past, LMWR’s revived version is now focused on serving as a platform for music artists. Creators will be able to generate blockchain-based content, which they can monetize with cryptocurrency rewards, payments, and subscriptions. Additionally, all content on the platform will be stored and traded as non-fungible tokens (NFTs), allowing creators to offer their fans unique digital items and experiences.

Limewire evolve from a controversial file-sharing service to a platform that supports the artistic community and the emerging world of NFTs. With Limewire’s diverse range of accepted payment options and the potential for unique NFT offerings from creators, it is no wonder that the platform has already surpassed its initial fundraising goal.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News