The Hyped LimeWire NFT Market announced on Monday that it has chosen Algorand as the host for its May relaunch.
Mila Kunis’ studio Sixth Wall (in conjunction with animation studio Web3 Toonstar), also yesterday shared news of an upcoming anime series to be released alongside the Solana NFTs which offer several benefits to holders.
Algorand Blockchain Will Power Upcoming LimeWire NFT Marketplace
Reports of the relaunch of LimeWire, the popular free P2P file sharing software that was discontinued in 2011, surfaced last week. The file-sharing program will make a comeback as a digital collectibles marketplace with the backing of two Austrian siblings, Paul and Julian Zehetmayr.
A Press release published on Monday detailed that LimeWire has partnered with Algorand, with the latter hosting the relaunch scheduled for May. Although primarily focused on music in the early stages, it will explore other arts and entertainment. LimeWire also revealed that it will release its native token on the Proof-of-Stake green blockchain later this year.
The partnership is win-win for both parties. As a carbon negative blockchain, Algorand’s mission is to promote energy-efficient NFT projects. LimeWire, on the other hand, intends to deliver the experience through a sustainable chain and Algorand is an ideal choice. It also boasts of high transaction speeds compared to Ethereum, a popular niche.
Commenting on the same, Algorand Managing Director Steven Kokinos noted that LimeWire was well positioned to gain an edge in the NFT music market.
“We are excited to see LimeWire launch on the Algorand blockchain and see huge potential for them to take the music collectibles market by storm,” said Kokinos. “Interest in digital collectibles will only grow and we look forward to supporting a global brand like LimeWire as it enters the space to help open the market to the general public.”
LimeWire adds to the list of several NFT marketplaces already hosted on the Algorand blockchain. Some of them are AlgoGems, Artsquare, Mintdrops. Republic and ZestBloom. However, none of them are popular outside of the Algorand ecosystem, which LimeWire will seek to capitalize on. The market hopes to use its already established brand to compete with OpenSea, Ethereum’s leading NFT trading platform.
To learn more about Algorand, visit our Investing in Algorand guide.
New Mila Kunis-Approved ‘The Gimmicks’ Series Will Be Supported By Solana-Based NFT
The Gimmicks — a new animated series from Mila Kunis’ production studio Sixth Wall and animation studio Toonstar — is the latest depiction of the intersection of the entertainment and blockchain industries.
Sixth Wall announced on Monday the launch of the television series, which is supported by Solana-based NFTs. Described as “South Park meets WWE, but interactive and bolder” by Toonstar CEO John Attanasio, the series revolves around the lives of failed former professional wrestlers.
The show borrows a leaf from “Stoner Cats,” an Ethereum-based anime series released last July. Toonstar and Sixth Wall will jointly launch an NFT collection featuring 10,000 Solana NFTs depicting unique characters to drive fan engagement.
Solana’s low transaction fees and sustainability influenced its choice as a blockchain host.
“We know that those curious about NFT may be afraid to get started, but Toonstar’s ideas, technology and content, combined with the low transaction fees and low environmental impact of the Solana blockchain, make it an entry point. easy”, Kunis said.
Fans will not incur any fees other than the Solana transaction fee for minting these NFTs.
“We felt that offering a free mint would encourage a much wider range of participation by reducing the cost of entry into our crazy world. Our goal is to help create a new generation of franchise IP with blockchain communities , so we think monetization will come in various forms if we build character worlds that people love and want to be a part of.,“ Attanasio confirmed.
Holders of the NFTs will contribute to the development of the characters of the show and the plot it takes according to the announcement. In addition, they will also have access to the episodes before the public.
To learn more about Solana, check out our Investing in Solana guide.