Why is LimeWire making a splash in the NFT space?

Highlights

• LimeWire has been launched in an all-new avatar, and the new promotional video reflects this change
• On its NFT platform, LimeWire’s own Originals collection is also piquing the interest of NFT lovers
• Other NFTs on LimeWire include assets linked to musicians Travis Barker, Soulja Boy, and Samuel Herb

Non-fungible tokens (NFTs) have been making waves in the cryptoverse for a while now. Marketplaces like OpenSea -- and others like Rarible and SuperRare, which have their own native crypto tokens -- have also been around for a while. Big players like Binance and Coinbase have come into the NFT space as late entrants.

Amid all this, why is a new NFT marketplace, LimeWire, trending heavily? LimeWire, which was a notorious peer-to-peer file sharing service provider, has now undergone a complete revamp. Let us explore.

What all is available on the new LimeWire version?

The revamped version of LimeWire emphasizes on music NFTs. This might strike a resemblance with the previous stint of the company when it enabled free peer-to-peer music sharing.

The two key collections right now on LimeWire are the platform’s own Originals series and a yet-to-be-launched digital asset linked to musician Travis Barker. LimeWire teased its Originals NFTs ahead of going live. Now, the official website confirms that many of the assets from this collection have been sold to collectors. A few buyers also took to Twitter to share their joy of having purchased the NFT.

LimeWire Originals has 10,000 assets, resembling some other popular NFT projects like that of CryptoPunk and BAYC. The floor price, as of writing, of the Originals NFTs is indicated as US$700.

Other music NFTs available on LimeWire include that of Soulja Boy and Samuel Herb. Some others, including that of singer Brandy, are yet to be made available for sale.

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Why is LimeWire trending?

One of the primary reasons behind the spike in LimeWire’s popularity could be a new promotion video shared by the company. It starts with two kids using LimeWire’s file sharing services to download music on a desktop. The grown-up versions of both then use the LimeWire NFT platform to get hold of a music NFT. The video has created a stir among netizens, with many branding it as a nostalgic ad.

Expensive NFTs

Even though LimeWire is making waves right now in the NFT circles, the space is led by names like Beeple, Pak, and CryptoPunk. Beeple is an artist who also collaborated with singer Madonna on her recent NFT auction project.

Beeple and Pak remain the highest-priced NFT artists. The assets of CryptoPunk and its close competitor BAYC have also invited lucrative bids, with some assets having fetched millions of dollars.

Bottom line

Right now, it is LimeWire that is creating a renewed frenzy in the NFT space. One of the encouraging factors is the new promotional video launched by LimeWire. The NFTs listed on LimeWire are however yet to fetch the prices at which the assets of Beeple and others have sold in the past.

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