If you were on the internet between 2000 and 2010, the chances are that you have experience with using LimeWire to download content of a questionable legal status.
Now, the name of the popular peer-to-peer (P2P) file sharing application is making a comeback as an NFT marketplace powered by the Algorand blockchain, which is also home to ZestBloom, Abrist, Dartroom, Blocsport, Asolp, and other NFT and digital art marketplaces.
“LimeWire is back to bring digital collectibles to everybody” states the official website, which currently features a waitlist for early access. LimeWire’s unexpected resurrection as an NFT marketplace can be traced to the 2021 purchase of intellectual property rights to LimeWire by Austrian brothers Julian and Paul Zehetmayr.
“The issue with the NFT market is that most platforms are decentralized” Julian told CNBC. “If you look at Bitcoin, all the exchanges are making it really easy to buy, trade, and sell Bitcoin. There’s no one really doing the same in the NFT space”.
Determined to fill the hole in the market, Julian and Paul established a core team in Q3 2021, and they’re now ready to launch an invite-only private token sale as the last major milestone before officially launching the marketplace itself in May 2022.
Also Read: 5 Gaming Cryptos That Will Explode In 2023
To be as user-friendly as possible, the LimeWire NFT marketplace will show prices in US dollars, instead of a cryptocurrency like Bitcoin or Ethereum. Even the choice of the Algorand blockchain is meant to increase the project’s mainstream appeal because Algorand relies on a low-energy consensus mechanism called Proof-of-Stake to address major concerns around the energy consumed by cryptocurrencies.
It will be interesting to see how many of the millennials who remember LimeWire from their childhood years will react positively to the platform’s comeback when it launches in the near future.
World’s Largest Metaverse Developer Opens Dubai Office
LandVault, the largest metaverse creator, is expanding its presence into the MENA region.
LandVault, the world’s largest metaverse developer, will expand operations to Dubai later this month as part of an ongoing strategy to boost its presence in the MENA region. The company aims to help local businesses gain a foothold in the expanding web 3.0 universe and sees exciting opportunities to bolster its client portfolio.
So far, metaverse developer LandVault has lived up to its name, creating and curating over 100 square feet of virtual space for a diverse range of organizations, including the nearby Yas Marina Circuit, Aldar, Mastercard, Standard Chartered, World of Women, Hershey’s, and many more.
The Dubai government’s Metaverse Strategy is one of the key reasons LandVault has been inspired to move to the region, as leaders plan to transform the Emirate into one of the world’s top 10 metaverse economies by 2030. Eventually, it’s hoped that in excess of 1,000 companies in the blockchain and web 3.0 spaces will be inspired to set up entities in the region, creating around 40,000 new jobs in the process.
“We are excited to open our office in Dubai and to be a part of the vibrant tech community in the UAE. The MENA region is a key market for us, and we believe that our presence in Dubai will allow us to assist the region and explore new opportunities. We are also excited about the potential for the metaverse in the real estate industry in the UAE. We look forward to working with developers and real estate companies to showcase their properties in a new and innovative way,” says Sam Huber, CEO of LandVault.
Alongside developing the metaverse from its new Dubai office, LandVault will also deploy its technology to assist the UAE’s real estate sector. Developers will soon be able to showcase their projects in a way that was never previously possible, reaching a much wider audience with immersive and interactive property tours and even virtual showrooms.