LimeWire Closes Token Public Sale With Almost $18M Raised

  1. LimeWire has finished its public sale, raising almost $18 million.
  2. The token sale started on May 2 and finished on May 11 at rates of $0.20 and $0.30.
  3. LimeWire was one of the most popular torrenting sites before becoming a creator platform.

LimeWire has concluded the public sale of its namesake token LMWR, obtaining $17,752,179 in over a week.

During the public sale, participants were given the option to purchase the tokens for $0.20 and $0.30, with the former under a lock-in contract of 6 months. Meanwhile, tokens purchased at $0.30 should be available for withdrawal immediately.

According to the team, all unsold LMWR tokens will be burned, which may result in a higher price valuation for tokens in circulation. 

In addition, LimeWire is set to announce the list of partner exchanges that will open trading of LMWR tokens. Among these, KuCoin was the first exchange to have been confirmed.

The LMWR token sale opened on May 2 and allowed people from different countries to participate. Interested LMWR buyers got the option to purchase using major cryptocurrencies if they were non-US citizens. Meanwhile, American participants had the extra option of using their bank cards to join the public sale.

LimeWire was one of the most popular torrenting sites before. However, given the rise of blockchain technology, the team has rebranded to become a Web3-based creator platform.

Specifically, LimeWire aims to cater to artists and content creators to monetize their content and engage their fans in a more profitable and decentralized manner.

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Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.