Limewire is introducing an AI Creator Studio on the Polygon blockchain to assist artists create web3 content material.
Limewire says its preliminary focus will likely be on picture technology, utilizing synthetic intelligence fashions to permit customers to create new pictures or improve present ones. The platform says it plans to increase this creation instrument to music technology in Q3 2024. Customers could have entry to all kinds of beats, melodies, and songs to create their very own musical compositions.
The platform gained notoriety within the early 2000s as a spot to share pirated music—leading to hundreds of thousands of millennials who assume Bob Seger sang “Drift Away.” The service finally met its demise in 2011 after a battle in opposition to the RIAA and report firms commanded a $105 million out-of-court settlement. In 2021, Austrian brothers Julian and Paul Zehetmayer bought the Limewire IP with the intention of rejuvenating the model from its days a infamous P2P sharing community.
In March 2022, Limewire returned as a digital collectibles market, securing $17 million in funding by means of a non-public token sale. Limewire initially introduced plans to launch a music-focused NFT market on the peak of the NFT growth, however the focus seems to have shifted from that preliminary imaginative and prescient.
Limewire says the entire content material generated with its AI Creator Studio will likely be minted on the Polygon blockchain. Earnings will likely be cut up between the unique artist and the creator of the AI-generated content material. The platform distributes advert income, paid out in its LMWR token to artists primarily based on the views their content material generates.
When content material items are traded on the secondary market as NFTs, creators earn a royalty paid within the USDC stablecoin. Creators could have the choice to limit entry to solely followers who pay a month-to-month payment—creating one more income stream. Limewire will supply a sure variety of free creations per thirty days to every consumer of the platform, whereas serial minters might want to pay a payment.