A file-sharing program used in the early 2000s to distribute pirated music will continue its more recent version as a Web3 content platform by launching a creator studio on Polygon.
The studio’s first use case is image generation, allowing users to create new images or enhance existing ones through various artificial intelligence models.
Later in the third quarter, users will be able to use a library of melodies, beats and songs to create AI-generated music, said Marcus Feistl, Chief Operating Officer of LimeWire. Content must initially come from partner platforms and LimeWire content before musicians can upload their own content.
Everything created in the studio is slapped on the Polygon blockchain. The platform splits the revenue between the uploading artist of the original content and the creator of the newly AI-generated content.
Specifically, artists earn a portion of the ad revenue generated on LimeWire – paid out in the original LMWR token – based on the number of views their content generates. The pieces of content can also be traded as NFTs on LimeWire’s secondary market. Creators would receive a royalty, currently paid in USDC, on this trading volume.
Finally, creators can restrict access to their content by requiring fans to pay a monthly fee, also denominated in USDC.
Payouts via these different methods are sent to the creators’ LimeWire accounts and can be withdrawn at any time.
“The studio is made for experienced creators as well as beginners,” Feistl told Blockworks in an email. “Experienced creators can use it to enhance their existing content or tap into new content types – [like] creating cover art for music releases, while newbies might find it a really easy start to their creative journey.”
While each user gets a certain number of free creations per month, those who use more often will be charged a fee, the COO said.
Brothers Julian and Paul Zehetmayr purchased LimeWire’s intellectual property in 2021 for an undisclosed sum. The company raised approximately $10 million in April 2022 as part of a private token sale by Kraken Ventures, Arrington Capital, and GSR.
LimeWire said in a blog post at the time that its initial focus was on launching a music-centric marketplace for digital collectibles, noting that the platform was designed “to dramatically lower barriers to entry into the world of NFTs.”
In April, the company launched a game that allowed users to simulate downloading music that was considered popular at the turn of the century. The official listing of his LMWR token came a month later.
The launch of the NFT marketplace and token list were “the steps required to democratize maker revenue and create a decentralized and fair maker economy on LimeWire,” Feistl said.
“LimeWire’s goal is to become the #1 platform for anyone to create, share and monetize content,” he added. “With the launch of the LimeWire AI Studio, we are now lowering the barrier to entry for anyone to become a content creator and begin their creative entrepreneurial journey.”
Napster, a file-sharing application that launched in 1999 and competed with LimeWire, revealed earlier this year that it would also enter the Web3 space via an acquisition of NFT music platform Mint Songs.
That purchase came after blockchain company Algorand and crypto investment company Hivemind bought Napster last year. The acquirers said in a LinkedIn post at the time that they would “again revolutionize the music industry by bringing blockchain and Web3 to artists and fans.”