Blockchain is claimed to be the tech that can make inroads into many aspects of life, sooner or later. It is the technology that powers Bitcoin and altcoins like Ethereum and Dogecoin.
Another space that blockchain is shaping profoundly is that of art and collectibles. The concept of non-fungible tokens (NFTs) has taken the word of art by storm, with painters, popstars and others using it to connect with their fans.
LimeWire, which was a popular peer-to-peer file sharing service provider, has now entered the NFT space. Soon, LimeWire crypto and LimeWire NFTs can become a reality. Let’s explore.
LimeWire, which has now become an NFT minting and trading service provider, is in the news for its impending launch of digital assets. Touted as LimeWire Originals, the platform will launch a collection of 10,000 NFTs.
The platform is inviting enthusiasts to join a “waitlist”, by which they can claim LimeWire’s airdrop NFTs. Enthusiasts are also being told that their rankings can improve if they refer LimeWire to others.
Another big announcement is the launch of the native LMWR token. The LMWR crypto would be native to the LimeWire NFT marketplace. As per its website, LimeWire currently boasts a supply of one billion LMWR tokens, with the last quarter of this year as the time when the public sale will happen.
LimeWire is also set to participate in NFT.NYC 2022, a leading annual event for non-fungible tokens. Overall, LimeWire is projecting itself as a player in Web 3.0 with its digital assets marketplace. The official website also claims an “official launch” into the film industry.
Are LimeWire NFTs and crypto tokens safe?
LimeWire is yet to begin its operations as an NFT marketplace. As of now, it is only emphasising on a near-term airdrop of 10,000 NFTs (LimeWire Originals). Besides, the LMWR token will also be launched later this year.
Over the past few months, both cryptos and NFTs have not performed very well. While Bitcoin dropped below US$20,000 last week, other altcoins like Ethereum and Dogecoin also pared past gains. Madonna launched her NFTs last month in collaboration with Beeple, but the assets could not attract bids as high as Beeple’s previous artworks (like Everydays).
LimeWire is set to enter the crypto and NFT market at a time when digital assets are under huge pressure. The collapse of the Terra ecosystem and the recent suspension on withdrawals by the Celsius Network might also act as dampeners.
LimeWire is currently highlighting the launch of its Originals NFTs. For this, it is inviting enthusiasts to join the waitlist. The LMWR token might be up for public sale in the latter half of 2022. The crypto world has recently bounced back from its lows, but this remains a wait-and-watch game.
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