LimeWire, the infamous app that was on everyone’s computer in the early 2000s, was once a purpose-built platform to empower the people with free peer-to-peer file-sharing.
After marking a major comeback, LimeWire has returned on-chain and harnessing the boundless powers of AI, so, we’re here to explore everything they have to offer for the citizens of Web3!
What is LimeWire?
Back to fulfil its legacy, LimeWire relaunched back in 2022 as a decentralized content-sharing platform that utilizes blockchain and AI technology. Their goal is to transform the way people produce, edit and share files on a global scale, and shift them away from the controlling centralized entities that be.
The new reimagined and multi-chain compatible LimeWire platform was built from the ground up, providing its users the ability to share any kind of digital media, including videos, images, music and much more in the format of NFTs which are fully tradable on secondary marketplaces.
Creating a fully lucrative platform for all, LimeWire allows content creators to set up exclusive communities within the platform, where members can pay subscription fees to join. This provides content creators with the ability to earn passive income from memberships, as well as lifelong creator earnings from all secondary market sales that occur.
How Does LimeWire Work?
Members are then able to communicate with the content creator and receive NFTs for each and every form of file (videos, images, etc.) they obtain, giving them full ownership of their assets and files. Holders of these NFTs can then choose to either keep or sell them on secondary NFT marketplaces, where they can potentially profit from them.
Limits; there are none.
Anyone and everyone can upload, edit and share files of any size with up to 4 GB completely for free, simply just drag, drop, share and monetize! LimeWire also provides a wide range of AI tools that are consistently growing. As we speak, users can generate, edit, upgrade and upscale the quality of images, with more tools coming for other media formats!
LimeWire Token ($LMWR)
In the midst of it all is the all-in-one AI utility token, $LMWR, primarily serving as the payment and reward method for interactions on the LimeWire AI platform. $LMWR is also used to stake within staking pools for extra rewards and exclusive platform perks. It doesn’t end there, we may as well introduce you to LimeWire’s latest DePIN innovation, Blocknode.
Blocknode
Blocknode is a decentralized GPU infrastructure that leverages the $LMWR token for its payment and rewards mechanism that rewards lenders with $LMWR tokens for providing spot and on-demand GPU power. Users in need of GPU will pay in $LMWR tokens, further enhancing the utility of the LimeWire token.
Conclusion
According to CoinMarketCap, at the time of writing, $LMWR is trading at a price of $0.089 with a small market cap of $29.02M after obtaining an ATH of $1.55 back in April 2024. With the emerging bull run, the yet-to-surge AI and DePIN narratives, LimeWire’s major backing from VCs, including Kraken Ventures, Crypto.com Capital and others, is it safe to say that $LMWR is ready for a major pump beyond its previous ATH?
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Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
