LimeWire, formerly a file-sharing platform that relaunched as an NFT marketplace, has launched an artificial intelligence studio in partnership with Polygon Labs.
The LimeWire AI Studio will allow users to create AI-generated images, followed by music and video capabilities later this year, the company said in a LinkedIn post on Tuesday (August 29).
“Starting today, users will be able to create AI generated images on LimeWire, followed by music and video capabilities later this year. All content will be automatically minted on Polygon, including fully automated creator earnings,” LimeWire said.
Artists will be able to earn a share of ad revenue generated on the platform paid out via LimeWire’s native LMWR token.
“The LMWR token will play an integral part in the AI Studio, ranging from free studio credits for token holders, to automated ad revenue payouts in LMWR,” the company said.
“With the launch of the LimeWire AI Studio, we will now lower the entry barrier for anyone to become a content creator and start their creative entrepreneurial journey.”
Marcus Feistl, LimeWire
The announcement came over a month after LimeWire introduced its ad-revenue sharing program powered by LMWR. The program allows all creators to “earn a fair share of income with the content they create,” LimeWire said at the time.
Back in May, the company disclosed that it had raised USD $17.5 million in multiple rounds of funding through the sale of LMWR. That followed the company’s announcement that it launched a cryptocurrency game for users to stimulate the downloading of music considered popular two decades ago.
Most recently, Blockworks reported, citing LimeWire Chief Operating Officer Marcus Feistl that in the third quarter, users will be able to use a catalog of melodies, beats and songs to create AI-generated music.
The content will be initially sourced from partner platforms and LimeWire-owned content before musicians are allowed to upload their own content.
“The studio is really made for experienced creators just as much as it is for first-timers,” Feistl was quoted by Blockworks as saying.
“Experienced creators might use it to enhance their existing content or to tap into new content types — [like] creating cover art for music releases — while newcomers might find it as a very easy start into their creator journey.”
“LimeWire’s goal is to become the no.1 platform for anyone to create, share and monetize content,” Feistl reportedly said.
“With the launch of the LimeWire AI Studio, we will now lower the entry barrier for anyone to become a content creator and start their creative entrepreneurial journey,” the executive added.
LimeWire last year signed its first major label partnership with Universal Music Group, providing licenses to allow LimeWire to partner with UMG artists in order to launch music-based NFT projects using the LimeWire marketplace.
Music Business Worldwide