That's often the case with digital art, as the NFT functions as a link to that file the original copyright remains with the creator. NFT critics point out that someone who buys one doesn't usually own the underlying file, only the token itself. Positioned by some as the latest online craze and a preview of a decentralized internet, some NFTs have sold for millions and many celebrities are endorsing the trend. NFTs - non-fungible tokens - are essentially digital certificates of authenticity that point to a file, such as an image or video, and exist on a record-keeping blockchain in a way that makes them uniquely identifiable and able to be traded with cryptocurrency. But last month, a fraudulent music NFT site called HitPiece was shut down by the Recording Industry Association of America (RIAA). and hip-hop group Wu-Tang Clan are said to be joining the company's board as advisers.Īs the frenzy for NFTs continues to mix with other entertainment, it seems several entrepreneurs are starting music NFT websites. Further, members of the management teams for R&B performer H.E.R. Julian said around 10 "really big mainstream" artists had already signed on to be part of the new LimeWire. "After about 12 years of the platform being down, all the controversy that might have been in the past with the music industry has turned into nostalgia," Paul explained. Like its controversial counterpart Napster from the same era, it became a go-to destination for downloading MP3s.īut the Zehetmayr brothers aren't looking to dredge up LimeWire's messy past - the one that resulted in a permanent injunction against the site in 2010. LimeWire first emerged 22 years ago as a P2P client for Windows, OS X and Solaris. He added, "Everybody connects it with music and we're launching initially a very music-focused marketplace, so the brand was really the perfect fit for that with its legacy." Even if you look on Twitter today, there's hundreds of people still being nostalgic about the name." In an interview on Wednesday, Julian said LimeWire is a "very iconic name.
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