In this article, I want to discuss LimeWire Crypto. This new version of the well-known file-sharing program focuses on developing an active amateur blockchain.
LimeWire Crypto provides an NFT and digital assets marketplace fueled by its utility token.
We will also consider its unique features, what the creators and collectors will gain, and where LimeWire intends to occupy a niche in the cryptocurrency market.
What Is LimeWire Crypto?
LimeWire Crypto, currently represented by the token $LMWR, is a modern offering of the peer-to-peer file-sharing system from the early 2000s that has moved to developing a blockchain ecosystem.
The site acts as a trading platform for digital collectibles, allowing artists or creative works to produce, sell, and advance their work through non-fungible tokens.
It is a low-cost NFT marketplace built on the Algorand, Ethereum, and Polygon blockchains. It allows users to Create/Purchase/Trade NFTs, provides access to the community and voting rights, and rewards $LMWR holders.
This potential was incubated in this platform to address the problem of creators having few income streams and being far from their audience.
LimeWire Crypto Overview
| Metric | Value |
|---|---|
| Market Cap Change (24h) | 1.60% |
| Market Cap | $56,513,476 (#476) |
| Volume Change (24h) | 4.21% |
| Trading Volume (24h) | $3,482,461 (#541) |
| Volume/Market Cap (24h) | 6.16% |
| Circulating Supply | 290,120,847 LMWR |
| Total Supply | 633,045,269 LMWR |
| Max. Supply | — |
| Fully Diluted Market Cap | $123,350,744 |
LimeWire Price Live Data
How Does LimeWire Crypto Work?
LimeWire has developed a platform enabling users to use blockchain technology to create, purchase, and trade digital collectibles such as NFTs. Here is the process briefly explained.
Minting NFTs Section
All users of the LimeWire network, including artists and content creators who may want to mint, can create such a digital object, which means turning their digital images into unique tokens within the Bitcoin market.
LimeWire Marketplace
These NFTs are then posted in the marketplace, where users can trade, buy, and sell them. The multichain marketplace enables operations on Algorand, Ethereum, and Polygon, for example.
Basis $LMWR Token
$LMWR, the native coin of the platform, is a utility token used to facilitate transaction activities in the ecosystem. They also have certain perks, including the right to vote on matters concerning the platform and consumption of certain content.
Community & Share Content
Collectors and creators can interact with each other, share their works, and engage followers in Lime Wire’s social space. In addition to this engagement, users are incentivized by earning rewards and special privileges for holding $LMWR.
Safety and Authenticity
Using the blockchain, LimeWire guarantees the legality of these accumulated digital artifacts and enables easy identification of owners, minimizing the chances of piracy.
LimeWire Crypto Token
The LimeWire crypto token, or LMWR, is an ERC-20 token on the Ethereum network. Here are some key details:
- Current Price: Approximately $0.19.
- Market Cap: Around $55.33 million.
- Total Supply: 1 billion LMWR tokens.
- Circulating Supply: About 290.12 million tokens.
- 24-Hour Trading Volume: Roughly $2.89 million
LimeWire Crypto Features
Simple Interface
The straightforward platform makes it suitable for both experienced crypto users and those trying it for the first time.
Royalty for Creators
Every time a creator’s work has to be resold, the artist has selected a threshold royalty on those NFTs to hold a percentage of that;
Social
LimeWire recognizes creators, allowing users to curate who they wish to follow, display their collections, and interact with others.
Auction feature
The marketplace supports different types of sales, including auctioning, to enable creatives to fetch higher prices for their assets.
Platform Compatibility
Limewire allows multiple engagements by users from various devices where the only need is the internet.
Tutorials
The platform’s users are also provided with content and videos that explain NFTs and blockchain and how to work with compliant services such as LimeWire.
LimeWire Management Team
Conclusion
To sum up, LimeWire Crypto is a company evolving completely from the traditional peer-to-peer file-sharing model.
It seeks to establish a robust environment where creators and curators can thrive by providing a marketplace for NFTs, digital assets, and utility tokens.
With the changing dynamics in the crypto industry, LimeWire will likely further reinvent itself and its brand image to appeal to younger digital users.
