This initiative comes on the heels of LimeWire’s ad-revenue sharing venture, which is powered by the LMWR token. As the company revealed, this program ensures creators are adequately compensated for their content.
A previous update from May had LimeWire sharing that they procured a whopping $17.5 million from LMWR token sales across multiple funding rounds. This came in the wake of their novel cryptocurrency-based game designed to revive the download trend of chart-topping music from yesteryears.
Recent insights from Blockworks, citing LimeWire’s COO Marcus Feistl, reveal plans for the upcoming quarter where users can leverage an extensive collection of tunes, rhythms, and tracks to produce AI-curated music. Initially, the content will be derived from affiliated platforms and LimeWire’s proprietary content. Soon after, artists will be given the liberty to contribute their unique creations.
Speaking to Blockworks, Feistl remarked, “Our studio caters to both seasoned creators and novices. While the former can augment their content or explore new content avenues like designing album covers, the latter will find it a seamless initiation into the world of content creation.”
Feistl envisions LimeWire to be the ultimate hub for content creation, distribution, and monetization. Reiterating the company’s vision, he stated, “With our AI Studio’s debut, we aim to simplify the content creation process, inviting more people to dive into their creative aspirations.”
In a pivotal move last year, LimeWire forged a partnership with Universal Music Group. This alliance grants LimeWire the permissions to team up with UMG artists, setting the stage for music-focused NFT initiatives on LimeWire’s platform.
