LimeWire, a former file-sharing platform turned Web3 firm, acquired the rights to the notorious Fyre Pageant model and plans to relaunch it with a crypto twist.
In a Tuesday announcement, LimeWire stated it had bought the Fyre Pageant’s trademark, brand, area and social media accounts. Marcus Feistl, LimeWire’s chief working officer, advised Cointelegraph that the brand new iteration will embody offline occasions, with LimeWire’s LMWR token powering entry to services and products.
The Fyre Pageant grew to become an emblem of failed hype in 2017, when a promised luxurious music occasion within the Bahamas collapsed into chaos, leaving attendees stranded with out correct meals or lodging. Its founder, Billy McFarland, was later convicted of fraud and sentenced to jail. LimeWire confirmed that McFarland is just not concerned within the new undertaking.
Feistl stated the initiative is led by a brand new and separate staff. He additionally promised that this iteration is not going to be like the primary Fyre Pageant’s launch. “We’ll positively not make previous errors once more,” Feistl stated. “Our plans for Fyre are usually not restricted to digital merchandise, but additionally exploring real-world experiences.”
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Fyre Pageant IP rights acquired on eBay
Based on a July New York Occasions report, the rights to the Fyre Pageant model have been offered on eBay for $245,000. Feistl advised Cointelegraph that LimeWire acquired “the trademark, brand, area and social media accounts,” which he feels is “all related IP to the model.”
Whereas the corporate didn’t share a lot when it comes to particulars, LimeWire stated its LMWR token could be a key a part of the initiative, “powering entry to future services and products.” LimeWire CEO Julian Zehetmayr stated the corporate is just not bringing the competition again however “bringing the model and the meme again to life.”
LimeWire stated the LMWR token is to be deeply ingrained into the brand new Fyre Pageant initiatives, with Feistl including, “There are many methods to combine LMWR into the brand new Fyre,” mentioning utility-driven and advertising functions.
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LimeWire: from file sharing to crypto
LimeWire was a well-liked peer-to-peer file-sharing service from the early 2000s that ceased operations in 2010. It got here again with a non-fungible token (NFT) market in 2022 after rights to the title discovered their new homeowners.
In 2023, LimeWire launched a Web3 sport themed on the Microsoft Home windows XP working system, taking part in on nostalgia for 2000s digital piracy. Extra just lately, in late 2024, the agency additionally returned to its roots by debuting a decentralized file-sharing function powered by BNB Greenfield.
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