Establishing a creator studio on Polygon , a file-sharing program that was once used to distribute pirated music in the early 2000s, will continue its more recent incarnation as a Web3 content platform.
The first use case of the studio is image generation, which enables users to create new images or enhance existing ones using variartificial intelligence models.<\/p>\n\n\n\n
According to MarFeistl, LimeWire’s chief operating officer, users can use a library of melodies, rhythms, and songs to create AI-generated music later in the third quarter.<\/p>\n\n\n\n
Before permitting musicians to upload their content, the content will be sourced from partner platforms and LimeWire’s library.<\/p>\n\n\n\n
Everything produced by the studio will be mined onto the Polygon blockchain. The platform divides profits between the artist who uploaded the original content and the creator of AI-generated content.<\/p>\n\n\n\n
Artists receive a portion of the ad revenue generated on LimeWire, paid out in the platform’s native LMWR token, based on the number of views their content receives.<\/p>\n\n\n\n
The content can also be traded as NFTs on LimeWire’s secondary market. Creators would receive a royalty on this trade volume, presently paid out in USDC.<\/p>\n\n\n\n
Finally, creators can restrict access to their content by requiring admirers to pay a monthly fee in USDC.<\/p>\n\n\n\n
These payouts are deposited into the creators’ LimeWire accounts and can be withdrawn at any time.<\/p>\n\n\n\n
\u201cThe studio is truly designed for both seasoned creators and novices,\u201d Feistl wrote in an email to Blockworks.<\/p>\n\n\n\n
See also 7 Surprising Use Cases of NFTs in Charity and Philanthropy 2 months ago
\u201cExperienced creators may use it to enhance their existing content or to explore new content categories, such as creating cover art for music releases,\u201d whereas\u201cbeginners may find it a simple way to begin their creator journey.\u201d<\/p>\n\n\n\n
The COO noted that while each user receives a certain number of free creations per month, those who use the service more frequently will be charged a fee.<\/p>\n\n\n\n
Julian and Paul Zehetmayr acquired LimeWire’s intellectual property for an undisclosed amount in 2021.<\/p>\n\n\n\n
In April 2022, Kraken Ventures, Arrington Capital, and GSR raised roughly $10 million through a private token sale for the company.<\/p>\n\n\n\n
LimeWire stated in a blog post that its primary objective was to launch a music-centric digital collectibles marketplace and that the platform was intended to\u201cdramatically lower entry barriers into the realm of NFTs.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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