A file sharing program as soon as used to unfold pirated music within the early 2000s will proceed its more moderen iteration as a Web3 content material platform by launching a creator studio on Polygon.
The studio’s first use case is picture era, permitting customers to create new pictures or improve current ones by way of varied synthetic intelligence fashions.
Later within the third quarter, customers will be capable to use a library of melodies, beats and songs to create AI-generated music, in line with LimeWire chief working officer Marcus Feistl. The content material is to be initially sourced from companion platforms and LimeWire-owned content material earlier than permitting musicians to add their very own content material.
Every part created within the studio will likely be minted on the Polygon blockchain. The platform splits earnings between the importing artist of the unique content material and the creator of the newly AI-generated content material.
Particularly, artists earn a share of the advert income generated on LimeWire — paid out in its native LMWR token — based mostly on the variety of views their content material generates. The items of content material can be traded on the LimeWire secondary market as NFTs. Creators would obtain a royalty, at the moment paid out in USDC, on this commerce quantity.
Lastly, creators can restrict entry to their content material by requiring followers to pay a month-to-month price, additionally denominated in USDC.
Payouts via these varied strategies are despatched to creators’ LimeWire accounts and may be withdrawn at any time.
“The studio is actually made for knowledgeable creators simply as a lot as it’s for first-timers,” Feistl instructed Blockworks in an electronic mail. “Skilled creators would possibly use it to reinforce their current content material or to faucet into new content material sorts — [like] creating cowl artwork for music releases — whereas newcomers would possibly discover it as an easy begin into their creator journey.”
Whereas every person will get a specific amount of free creations per thirty days, these utilizing extra incessantly will likely be charged a price, the COO famous.
Brothers Julian and Paul Zehetmayr purchased LimeWire’s mental property in 2021 for an undisclosed sum. The corporate raised roughly $10 million in April 2022 as a part of a personal token sale by Kraken Ventures, Arrington Capital and GSR.
LimeWire stated in a weblog submit on the time its preliminary focus was to launch a music-focused digital collectibles market, noting the platform was designed “to drastically decrease boundaries of entry into the world of NFTs.”
In April, the corporate launched a sport for customers to simulate the downloading of music thought-about standard on the flip of the century. The official itemizing of its LMWR token got here a month later.
The launch of its NFT market and token itemizing had been “the required steps to democratize creator earnings and create a decentralized and truthful creator financial system on LimeWire,” Feistl stated.
“LimeWire’s objective is to turn out to be the no.1 platform for anybody to create, share and monetize content material,” he added. “With the launch of the LimeWire AI Studio, we’ll now decrease the entry barrier for anybody to turn out to be a content material creator and begin their inventive entrepreneurial journey.”
Napster, a file-sharing utility launched in 1999 that competed with LimeWire, revealed earlier this 12 months it might additionally transfer into the Web3 area by way of an acquisition of NFT music platform Mint Songs.
That purchase got here after blockchain firm Algorand and crypto funding agency Hivemind purchased Napster final 12 months. The acquirers stated in a LinkedIn submit on the time they might “as soon as once more revolutionize the music business by bringing blockchain and Web3 to artists and followers.”
