DeFi-focused altcoin Algorand (ALGO) has partnered with renowned music and file-sharing platform LimeWire, which plans to relaunch the NFT market. Algorand has become the network of choice for energy efficient NFT markets and the Web 3 economy as the first carbon negative blockchain. LimeWire is looking to launch a token later this year that will provide unique community access, voting mechanisms, and a reward system for its investors, in addition to publishing its digital products on Algorand.
LimeWire deals with a DeFi altcoin project
LimeWire is P2P file software for arts, entertainment, music and file sharing. The market is returning as a one-stop shop for artists and fans to produce, buy and trade NFT works without the technological barriers plaguing the current NFT industry. Through its relationships with leading musicians in the music industry, the company hopes to introduce digital treasures to the public and gain one million customers within the first year. It was announced in the past hours that Algorand technology will be used for this, with the following Twitter post.
The tweet includes the following statements about Algorand:
- Algorand since 2021 carbon negative
- Scalable, fast and secure
- which makes it perfect for NFTs
- All in all, free We will be able to offer NFT edition (mint)
About LimeWire and NFT market
LimeWire, with a simple registration process, hassle-free KYC and products priced in dollars, as simple as possible for NFT beginners will provide a participation and ease of use. Without the need for a crypto wallet and thanks to the strong relationship with payment provider Wyre, customers will be able to purchase collectibles directly via credit card, wire transfer and other fiat gateways. The NFT marketplace was created with the cutting-edge user experience in mind and also with a more natural and familiar design for the typical customer.
Algorand CEO Steven Kokinos said about the partnership:
We are excited to see LimeWire launch on Algorand and take the music collections market by storm We see great potential for them to buy with. Interest in NFTs will grow and we look forward to supporting it. A global brand like LimeWire is entering the field to help open the market to the mainstream.
You can find the Algorand (ALGO) guide, which we prepared as Kriptokoin.com, here.
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