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Limewire Goes For Algorand Blockchain for Its NFTs Relaunch

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Limewire Goes For Algorand Blockchain for Its NFT Relaunch.

On Monday, March 14, Limewire announced that it is relaunching its digital collectible marketplace soon. The announcement stated that the digital collectible platform that is commencing with music collectibles chose the Algorand blockchain due to its energy-efficient network.

Algorand has become the blockchain of choice for builders interested in speed, efficiency, and low environmental impact. This is mainly because the platform is one of the most prominent carbon-negative blockchains in the industry.

Limewire, in the release, also stated that it is poised to release its token later this year. The company is relaunching its music-centered NFT on the platform where users can gain access to buy, sell and trade these works of art and others. The company emphasizes making access to collectibles less tedious, unlike what is obtainable on other NFT marketplaces.

AN Easy-To-Use Minting Marketplace

Its community-accessible platform is designed to enable collective participation through a governance structure that empowers holders of the token through voting rights. Another feature of the platform is the minting ease which eliminates the technical hurdles involved in developing non-fungible tokens.

The release stated that with the collaboration with Algorand and future partnerships planned in the coming months, Limewire is poised to onboard millions of users down the line.

According to the update:

“Music fans and collectors will be able to buy and trade a variety of music-related assets, such as limited editions, pre-release music, unreleased demos, graphical artwork, exclusive live versions, as well as digital merchandise and backstage content.”

The simplicity of the Limewire platform gives it an edge that the company believes will make onboarding easy for users. Paul Zehetmayr, the company’s CEO, said that the entry barrier difficulty inhibiting newbies is what Limewire seeks to help people surmount.

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Bernnan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.


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