LimeWire isn't the first decentralized file-sharing service to turn to the world of cryptocurrencies. 'We're trying to be a more mature platform and professionalize everything, just like Coinbase or other exchanges would do for crypto assets,' he said. Julian said there are 'lots of parallels' between the NFT market today and LimeWire in the past, adding both are 'kind of a Wild West.' However, others criticize the speculative nature of NFTs, which are often bought with the intention of flipping them at a higher price, as well as the number of scams in the space. Proponents of NFTs say they solve a key issue with the modern internet: namely, the unfettered distribution of media on the web, and a decline in compensation for artists and creators. The market has attracted everyone from crypto enthusiasts to celebrities, with a popular range of digital collectibles called the Bored Ape Yacht Club even making an appearance on 'The Tonight Show Starring Jimmy Fallon.' NFTs took off in a big way in 2021, with trading in the tokens reaching billions of dollars. The token will grant holders the ability to vote on changes to LimeWire's policies as well as which artists are featured in its music charts. The brothers say they plan to raise additional capital through the launch of a LimeWire token, which will initially be sold to a select few investors ahead of a public sale later down the line. Their software firm Apilayer, for example, was bought by American holding company Idera last year.

So far, LimeWire's revival has been funded with money the Zehetmayrs raised through the sale of their previous ventures. 'We thought we needed to build a real mainstream user experience as well.' 'We've obviously got this great mainstream brand that everybody's nostalgic about,' he added.

There's no one really doing the same in the NFT space.' 'If you look at bitcoin, all the exchanges are making it really easy to buy, trade and sell bitcoin.

'The issue with the NFT market is that most platforms are decentralized,' Julian Zehetmayr told CNBC. The company is counting on a more accessible approach to NFTs, as well as an advisory board that includes the manager of rap group Wu-Tang Clan, Tareef Michael, to attract users. Its payment functionality has been developed in partnership with the start-up Wyre. dollars, rather than crypto, and users will be able to purchase tokens using credit cards.

Music download before limewire