limewire said May 9th Raised over $16 million for the revived platform through the sale of its cryptocurrency token (LMWR).
Limewire Exceeds $15M Goal
By raising $16.5 million, Limewire exceeded its $15 million fundraising goal and reached more than half of its $30 million funding cap.
The sale will close on May 11th and the token will be listed on four major exchanges from May 16th, according to the project website.
The project has been funded in cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), US Dollar Coin (USDC), Tether (USD), Binance Coin (BNB) as well as fiat currencies. Around May 6th, we added support for XRP, Cardano (ADA) and Polygon (MATIC) payments.
Limewire announced on April 21 that it has raised $10 million through a private sale led by Kraken Ventures, Arrington Capital and GSR.
NFT platform for creators
Limewire is best known as a file sharing service that was active in the early 2000s. The platform has been controversial for allowing music piracy and has faced lawsuits from the recording industry. Limewire eventually closed he around 2010.
However, Limewire’s revived version serves as a platform for music artists instead. Creators can create content on blockchain-based content and monetize that content with cryptocurrency rewards, payments, and subscriptions.
Content on the platform is stored and traded as non-fungible tokens (NFTs), and access to that content can be gated behind NFTs and other tokens.
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