LimeWire Raises $10 Million in Private Token Sale to Grow Music-Linked NFT Platform

LimeWire has raised $10.4 million in a private token sale led by Kraken Ventures, Arrington Capital and GSR as it builds its platform for music-focused NFTs.

News of the fundraise, unveiled on Thursday, comes a little over a month after the company announced it was plotting a comeback.

LimeWire originally gained notoriety in the 2000s as a place to download music and other files outside of mainstream channels. But, aside from the name and branding, the business proposition for LimeWire is completely new.

The team behind the resurrection, which is currently based across Vienna, London and Berlin, says the platform will initially focus on music-linked NFTs. Its new iteration will allow fans and artists to create, buy and trade digital collectables without the current technical hurdles of the NFT landscape.

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