LimeWire Token to Hold Token Burn on July 1st
LimeWire Token has announced the commencement of its second phase burn event, which is set to begin on May 1st. This event will involve the burning of a total of 46,666,666 LMWR tokens every month until July 1st.
Refer to the official tweet by LMWR:
LimeWire@limewireApr 23, 2024The first burn event of phase 2 will happen on May 1st, followed by 3 identical burn events in the following months 🔥
Team: 13,333,333 $LMWR burned
Community Rewards: 16,666,666 $LMWR burned
Treasury: 16,666,666 $LMWR burned
Total monthly burn: 46,666,666 $LMWR every month…
LMWR Info
LimeWire is an NFT marketplace for digital collectibles in the fields of art and entertainment, with an initial focus on musical content. This platform allows creators to build a steady revenue stream by providing their fans with exclusive access to content, ultimately strengthening the bond between creator and supporter.
The platform’s operational prowess is anchored in blockchain technology, ensuring the exclusivity and ownership of content. This unique approach permits fans to not only access but also possess and trade exclusive digital assets. Consequently, fans become active stakeholders, directly contributing to the prosperity of the creators they endorse.
Central to the LimeWire ecosystem is the LimeWire token, an ERC-20 utility token. Its primary function is to enrich the platform’s user experience and confer a range of advantages to its holders. In 2022, the token witnessed considerable financial backing, successfully closing a strategic and private pre-sale at $10.4M, with influential backers like Kraken Ventures, Crypto.com Capital, GSR, and Arrington Capital onboard.