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A pair of serial entrepreneurs in Austria have bought the rights to defunct music platform LimeWire with plans to revamp its image for the Internet’s next generation by selling nonfungible tokens (NFTs) attached to music, content and art.
LimeWire, one of the earliest iterations of Web-based music consumption with a reputation as a haven for illegal downloads, ended in controversy in 2010 after a judge shut down the business for inducing copyright infringement, which was then followed by a US$105 million out-of-court settlement between major record companies and then-LimeWire chief executive officer Mark Gorton.
Now, brothers Paul and Julian Zehetmayr are hoping