Photo Credit: Andres Hernandez
Limewire is introducing an AI Creator Studio on the Polygon blockchain to help artists create web3 content.
Limewire says its initial focus will be on image generation, using artificial intelligence models to allow users to create new images or enhance existing ones. The platform says it plans to extend this creation tool to music generation in Q3 2024. Users will have access to a wide variety of beats, melodies, and songs to create their own musical compositions.
The platform gained notoriety in the early 2000s as a place to share pirated music—resulting in millions of millennials who think Bob Seger sang “Drift Away.” The service eventually met its demise in 2011 after a battle against the RIAA and record companies commanded a $105 million out-of-court settlement. In 2021, Austrian brothers Julian and Paul Zehetmayer purchased the Limewire IP with the intention of rejuvenating the brand from its days a notorious P2P sharing network.
In March 2022, Limewire returned as a digital collectibles marketplace, securing $17 million in funding through a private token sale. Limewire initially announced plans to launch a music-focused NFT marketplace at the height of the NFT boom, but the focus appears to have shifted from that initial vision.
Limewire says all of the content generated with its AI Creator Studio will be minted on the Polygon blockchain. Earnings will be split between the original artist and the creator of the AI-generated content. The platform distributes ad revenue, paid out in its LMWR token to artists based on the views their content generates.
When content pieces are traded on the secondary market as NFTs, creators earn a royalty paid in the USDC stablecoin. Creators will have the option to restrict access to only fans who pay a monthly fee—creating yet another revenue stream. Limewire will offer a certain number of free creations per month to each user of the platform, while serial minters will need to pay a fee.