LimeWire revives infamous Fyre Festival brand with Web3 integration

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LimeWire, the erstwhile file-sharing level turned Web3 company, has acquired the rights to the infamous Fyre Festival marque and plans to relaunch it with a crypto twist.

In a Tuesday announcement, LimeWire said it had purchased the Fyre Festival’s trademark, logo, domain and societal media accounts. Marcus Feistl, LimeWire’s main operating officer, told Cointelegraph that the caller iteration volition see offline events, with LimeWire’s LMWR token powering entree to products and services.

The Fyre Festival became a awesome of failed hype successful 2017, erstwhile a promised luxury euphony lawsuit successful the Bahamas collapsed into chaos, leaving attendees stranded without due nutrient oregon accommodations. Its founder, Billy McFarland, was aboriginal convicted of fraud and sentenced to prison. LimeWire confirmed that McFarland is not progressive successful the caller project.

Feistl said the inaugural is led by an wholly caller and abstracted team. He besides promised that this iteration volition not beryllium similar the archetypal Fyre Festival’s launch. “We’ll decidedly not marque past mistakes again,” Feistl said. “Our plans for Fyre are not constricted to integer products, but besides exploring real-world experiences.”

Fyre Festival IP rights acquired connected eBay

According to a July New York Times report, the rights to the Fyre Festival marque were sold connected eBay for $245,000. Feistl told Cointelegraph that LimeWire acquired “the trademark, logo, domain and societal media accounts,” which helium feels is “all applicable IP to the brand.”

While the institution did not stock overmuch successful presumption of details, LimeWire said its LMWR token would beryllium a cardinal portion of the initiative, “powering entree to aboriginal products and services.” LimeWire CEO Julian Zehetmayr said the institution is not bringing the festival backmost but “bringing the marque and the meme backmost to life.”

LimeWire said the LMWR token is to beryllium profoundly ingrained into the caller Fyre Festival initiatives, with Feistl saying, “There are plentifulness of ways to integrate LMWR into the caller Fyre,” mentioning utility-driven and selling applications.

LimeWire: from record sharing to crypto

LimeWire was a fashionable peer-to-peer file-sharing work from the aboriginal 2000s that ceased operations successful 2010. It came backmost with a non-fungible token (NFT) marketplace successful 2022 aft rights to the sanction recovered their caller owners.

In 2023, LimeWire besides released a web3 crippled themed connected the Microsoft Windows XP operating system, playing connected nostalgia for 2000s integer piracy. More recently, successful precocious 2024, the steadfast besides returned to its roots by debuting a decentralized file-sharing feature powered by BNB Greenfield.

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