Through the penned accord, UMG will allow its battalion of significant artists to release NFTs via the platform, set to arrive in the shape of music, artwork and collectables featuring participating stars. As a result, LimeWire will kick off its NFT escapade with a full contingent of top-quality content.
The rejuvenated turn of the century file sharing platform will scale up its efforts with a launch campaign at the end of May, before going live with its all new Algorand-based NFT marketplace shortly afterwards. This marks a true return to form for the once long-forgotten brand name.
Important milestone reached! We’re thrilled to announce our partnership with Universal Music Group @UMG, opening up opportunities for music NFTs to all artists signed to Universal and UMG labels.
— LimeWire (@limewire) May 17, 2022
The announcement comes just as Spotify begins its foray into the non-fungible. Therefore, marking a major transitioning event as music embraces its Web3 future, with both platforms seemingly complimenting each other.
However, LimeWire isn’t the only tech relic set to making a comeback in the Web3 arena with fellow dubious music platform, Napster emerging from its slumber to take on the NFT industry. In the last few days, news circulated that a consortium of Algorand and Hivemind had acquired the platform. All signifying a bright and tune-filled future as music embraces blockchain technology.