LimeWire, a once-popular file-sharing platform now evolving into a Web3 entity, has acquired the rights to the notorious Fyre Festival brand and is set to relaunch it with a cryptocurrency angle.
In a Tuesday announcement, LimeWire revealed that it has obtained the Fyre Festival’s trademark, logo, domain, and social media accounts. Marcus Feistl, LimeWire’s chief operating officer, informed Cointelegraph that the new version will include offline events, with LimeWire’s LMWR token facilitating access to products and services.
The Fyre Festival became emblematic of broken promises in 2017 when a luxury music event in the Bahamas devolved into disorder, leaving attendees without sufficient food or shelter. Its founder, Billy McFarland, later faced fraud charges and was sentenced to prison. LimeWire confirmed that McFarland will have no role in the upcoming project.
Feistl indicated that the initiative will be managed by a new, independent team. He assured that this new launch will not replicate the mistakes of the original Fyre Festival. “We’ll definitely not make past mistakes again,” Feistl stated. “Our plans for Fyre extend beyond digital products, encompassing real-world experiences as well.”
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Fyre Festival IP rights acquired on eBay
As reported by the New York Times in July, the Fyre Festival brand rights were sold on eBay for $245,000. Feistl noted that LimeWire acquired “the trademark, logo, domain, and social media accounts,” which he believes encompass “all relevant IP to the brand.”
While detailed plans weren’t extensively shared, LimeWire mentioned that its LMWR token will play a crucial role, “powering access to future products and services.” LimeWire CEO Julian Zehetmayr clarified that the firm isn’t reviving the festival but rather “bringing the brand and the meme back to life.”
LimeWire asserted that the LMWR token will be deeply integrated into the new Fyre Festival initiatives, with Feistl commenting, “There are numerous ways to incorporate LMWR into the new Fyre,” referencing utility-driven and marketing applications.
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LimeWire: from file sharing to crypto
LimeWire was a well-known peer-to-peer file-sharing platform in the early 2000s, ceasing operations in 2010. It resurfaced in 2022 with a non-fungible token (NFT) marketplace after the rights to the name were regained.
In 2023, LimeWire launched a Web3 game inspired by the Microsoft Windows XP operating system, tapping into nostalgia for 2000s digital piracy. More recently, in late 2024, the company made a comeback to its origins by introducing a decentralized file-sharing feature powered by BNB Greenfield.
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