LimeWire, a once-infamous file sharing program from the early 2000s recognized for its position in distributing pirated music, is taking a its subsequent main step into the rising tech panorama because it ready to launch its AI Creator Studio on the Polygon blockchain.
The platform has since advanced right into a Web3 content material platform that goals to empower creators and artists in a decentralized method.
The studio’s preliminary focus will likely be on picture era, leveraging synthetic intelligence fashions to permit customers to create new photographs or improve current ones. This artistic functionality is only the start, as LimeWire plans to broaden the studio’s choices to incorporate AI-generated music within the third quarter. Customers could have entry to a library of melodies, beats, and songs to craft their very own AI-generated musical compositions.
The OG LimeWire
For almost all of millennials, file-sharing platforms like LimeWire and Napster outlined the period of digital music and the ability of .MP3.
LimeWire, which was initially launched in 2000 by Mark Gorton, shortly surged in reputation, turning into infamous for its main position in music and film piracy that had the Recording Trade Affiliation of America (RIAA) scared out of their minds.
Ten years later, a decide lastly addressed a years-long pileup of copyright infringement claims that the platform had confronted, which finally led to LimeWire’s demise in October 2011 and a $105 million out-of-court settlement between Gorton and a reasonably prolonged record of main document corporations – together with the RIAA.
Whereas LimeWire’s demise positively lowered the speed of piracy, with a 16% charge in late 2007 to 9% by the top of 2010, it definitely didn’t cease different platforms from persevering with on, together with, however not restricted to iMesh, BearShare, and FrostWire.
In 2021, Austrian entrepreneur-brothers Julian and Paul Zehetmayer bought LimeWire’s mental property with funds from their earlier startups. The previous controversial P2P file-sharing platform subsequently introduced its return in March 2022 as a next-gen digital collectibles market, starting with the relaunching of its web site.
The corporate secured round $10 million in funding by a non-public token sale involving Kraken Ventures, Arrington Capital, and GSR in April 2022. With a brand new staff and advisory board, LimeWire initially marketed its return as a formidable contender within the NFT increase, asserting its plans to launch a music-focused NFT market that might assist democratize the digital collectibles panorama.
That very same month, the corporate launched a limited-run simulation recreation that allowed gamers to obtain nostalgic music that have been top-of-the-charts hits from 20 years in the past, which was initially reported by Decrypt. Gamers have been capable of seek for music and movies from the early 2000s and have been capable of “download” no matter they wished in an effort to win factors – however have been cautioned to be on the look out for any “in-game viruses” they may obtain which might instantly finish the sport.
A enjoyable tackle the notorious P2P file-sharing platform, the place winners of the sport could be rewarded with the platform’s then unreleased native ERC-20 token, LWMR. The token launched a month later, permitting holders to buy NFTs from LimeWire’s newly rebuilt market.
All content material generated inside the LimeWire studio will likely be minted on the Polygon blockchain, the place the platform splits content material earnings between the unique importing artist and the creator of the AI-generated content material.
Below LimeWire’s creator mannequin, the platform then distributes advert income, paid out in its native LMWR token, to artists based mostly on the views their content material generates – or in any other case, impression-based payouts.
It revealed its roadmap, starting with picture era as its first use case, adopted by an eventual “library of melodies, beats and songs” to create AI-generated music. Previous to opening up entry to musicians importing their very own content material, the library will initially supply its content material from LimeWire’s associate platforms and natively owned content material.
Notably, these content material items may also be traded on LimeWire’s secondary market as NFTs, offering an extra income stream for creators. When NFTs are traded, creators will obtain a royalty, at the moment paid in USDC (USD Coin) stablecoin, based mostly on the commerce quantity. Creators may also have the choice to monetize their content material additional by proscribing entry and requiring followers to pay a month-to-month price, denominated in USDC.
The LimeWire AI Studio goals to cater to creators of all ranges of expertise. Marcus Feistl, LimeWire’s Chief Working Officer, famous that the studio is designed to be accessible for each seasoned creators and newcomers trying to embark on their artistic journeys.
Feistl advised Blockworks in an e-mail interview that the “studio is really made for experienced creators just as much as it is for first-timers.” Whereas skilled creators could use LimeWire’s creator studio to boost their current content material or open up new doorways to next-gen content material, first-time creators would even have an simply accessible mechanism through which to start their very own journeys.
Whereas the platform gives a sure variety of free creations monthly to every consumer, those that interact extra incessantly will likely be topic to charges. LimeWire’s strategic method to pricing goals to strike a steadiness between accessibility and sustainability for its customers.
Feistl additionally famous that LimeWire’s principal aim is to turn out to be “the no.1 platform for anyone to create, share and monetize content,” with the AI Studio decreasing the barrier of entry for people desirous to turn out to be a content material creator.
Don’t Overlook Napster
Only a yr previous to the OG LimeWire launch, there was the P2P file-sharing platform, Napster, which was one in every of LimeWire’s greatest rivals. Just like LimeWire’s collapse, Napster additionally suffered the wrath from the authorized panorama and the RIAA.
In 2022, Napster introduced its return after crypto funding agency Hivemind and Algorand acquired its IP, hoping to respark that keenness for the music business by integrating blockchain expertise and rising applied sciences into an artist and fan-friendly platform.
Napster’s now CEO Jon Vlassopulos spoke with the late Hypemoon, a former subsidiary of Hypebeast, final yr about his imaginative and prescient and the way bringing again the ringtone phenomenon helped affect the trail ahead for Napster.
Editor’s word: This text was written by an nft now employees member in collaboration with OpenAI’s GPT-4.