limewire mentioned Might 9 that it has raised over $16 million for its revived platform via the sale of its cryptocurrency token (LMWR).
Limewire Exceeds Goal of $15 Million
By elevating $16.5 million, Limewire exceeded its fundraising aim of $15 million and is greater than midway to its fundraising restrict of $30 million.
The mission’s web site says the sale will shut on Might 11 and the token can be listed on 4 main exchanges beginning Might 16.
The mission has raised funds in fiat in addition to cryptocurrencies together with Ethereum (ETH), Bitcoin (BTC) USD Coin (USDC), Tether (USD) and Binance Coin (BNB). It added assist for XRP, Cardano (ADA), and Polygon (MATIC) funds round Might 6.
Limewire beforehand introduced on April 21 that it had raised $10 million via a personal sale led by Kraken Ventures, Arrington Capital and GSR.
NFT platform for creators
Limewire is greatest referred to as a file-sharing service lively within the early 2000s. The platform grew to become controversial for permitting copyright infringement of music and was the topic of lawsuits from of the recording business. Limewire was lastly shut down round 2010.
Nevertheless, the relaunched model of Limewire will as an alternative function a platform for music artists. Creators will have the ability to create content material on blockchain-based content material and monetize that content material with cryptocurrency rewards, funds, and subscriptions.
Platform content material can be saved and traded in non-fungible tokens (NFTs), and entry to this content material could also be locked behind NFTs and different tokens.
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