Home Blockchain Limewire has raised over $16M for its blockchain-focused revival

Limewire has raised over $16M for its blockchain-focused revival

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limewire said May 9 It announced that it has raised over $16 million through the sale of its cryptocurrency token (LMWR) for its revived platform.

Limewire Exceeds $15 Million Goal

By raising $16.5 million, Limewire exceeded its $15 million funding goal and reached more than half of its $30 million funding cap.

According to the project website, the sale will end on May 11th and the token will be listed on four major exchanges from May 16th.

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 enabling music piracy and has faced lawsuits from the recording industry. Limewire eventually closed he around 2010.

However, Limewire’s revived version will instead serve as a platform for music artists. Creators will be able to 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.

The post Limewire raised over $16 million for its blockchain-focused revival first appeared on CryptoSlate.

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