DeFi-focused altcoin Algorand (ALGO) has partnered with renowned music and file-sharing platform LimeWire, which plans to relaunch the NFT market. Algorand has become the network of choice for energy efficient NFT markets and the Web 3 economy as the first carbon negative blockchain. LimeWire is looking to launch a token later this year that will provide unique community access, voting mechanisms, and a reward system for its investors, in addition to publishing its digital products on Algorand.
LimeWire signs up with a DeFi altcoin project
LimeWire is P2P file software for arts, entertainment, music and file sharing. The market is returning as a one-stop shop for artists and fans to produce, buy and trade NFT works without the technological barriers plaguing the current NFT industry. Through its relationships with leading musicians in the music industry, the company hopes to introduce digital treasures to the public and gain one million customers within the first year. It was announced in the past hours that Algorand technology will be used for this, with the following Twitter post.
The tweet includes the following statements about Algorand:
Algorand is carbon negative since 2021
Scalable, fast and secure
This makes it perfect for NFTs
As a result, we will be able to offer free NFT printing (mint)
About LimeWire and the NFT market
With a simple registration process, hassle-free KYC, and products priced in dollars, LimeWire will make joining and ease-of-use as simple as possible for NFT beginners. Without the need for a crypto wallet and thanks to the strong relationship with payment provider Wyre, customers will be able to purchase collectibles directly via credit card, wire transfer and other fiat gateways. The NFT marketplace was created with the cutting-edge user experience in mind and also with a more natural and familiar design for the typical customer.
Algorand CEO Steven Kokinos made the following statements about the partnership:
We are excited to see LimeWire launch on Algorand and we see huge potential for them to take the music collections market by storm. Interest in NFTs will grow and we look forward to supporting them. A global brand like LimeWire is entering the field to help open the market to the mainstream.