LimeWire Partners With Universal Music Group to Release NFTs on its Upcoming Platform

LimeWire's return was announced back in March, completely different from its first pirate-friendly iteration instead, the company is now pivoting into NFTs, and the platform will run on Algorand.

The partnership will provide artists signed with the major record label with the ability to put out tokenized collectibles via the new LimeWire marketplace.

Famous artists under Universal are Taylor Swift, Kendrick Lamar, The Rolling Stones, U2, BTS, Chris Stapleton, The Weeknd, Abba, and Elton John. The deal won't guarantee fans of these musicians NFTs or that they'll even release them, but this does give the tech-savvy the opportunity.

LimeWire is set to make its return in the form of an NFT marketplace, focused on music-related collectibles, artworks, or exclusive unreleased tracks.

Paul and Julian Zehetmayr are the brains behind the miraculous return of a thought forgotten piece of tech, announcing the last march their plans to evolve the application.

The duo would go on to raise $10.4 million via a token sale led by Kraken Ventures, Arrington Capital, and GSR, with participation from other firms such as Crypto.com Capital and musician Deadmau5’s 720Mau5 fund.

LimeWire is apparently set to launch its “official launch campaign” later this month, with the marketplace opening sometime after.

This is not Universal's first foray into NFTs with the global music label partnering with NFT metaverse-based game, The Sandbox, back in January. Universal plans to build artist-specific digital concert venues in The Sandbox.

With the NFT market as a whole wavering due to stark crypto declines in recent weeks, it's good to see established companies still having faith in the technology, and if we know anything from trends, it's that celebrities get the public to adopt at a rapid rate.