LimeWire Acquires Fyre Festival, Plans Fresh Start With a Crypto Spin

Limewire has taken over Fyre Pageant, eight years after what is usually thought-about the Most disastrous try As soon as in throwing a pageant. Earlier led by founder Billy McFarland and rapper Ja Rule, Limewire has stripped the Fyre group and is a brand new, crypto-driven begin for the controversial model.

Julian ZehetmoyrCEO of Limewire, mentioned Decrypt These acquisition prices amounted to round $ 230,000. He warned that the plans of the group are nonetheless in its infancy, as a result of they decide the main points within the coming months and that he expects a extra detailed announcement to be launched originally of 2026.

Nonetheless, what the CEO has confirmed is that Limewire is planning that there’s a bodily occasion and that Crypto will definitely play a job within the new chapter of the pageant.

“The plan is admittedly to combine the Limewire -token effectively and deeply into what we do with Fyre,” mentioned Zehetmayr Decrypt. “We completely additionally wish to do a form of redemption for previous holders of tickets. I believe you might contain that in crypto and even NFTs.”

That mentioned, he warned that “there are not any actual plans but”, however confirmed that the group “definitely” will someway combine the Limewire. Zehetmoyr additionally doesn’t exclude the probabilities of an AI musician as a headliner, relying on how straightforward it is going to be to draw “actual expertise” with the Fyre model.

Why does Limewire do that?

Individuals could keep in mind Limewire as the favored peer-to-peer music trade service from the early 2000s. It was referred to as a breeding floor for unlawful music and viruses, later one icon From the early web. Nonetheless, it was closed in 2011 after shedding a authorized battle of piracy with the Recording Business Affiliation of America.

In 2022, Limewire was re -launched as an NFT market With new house owners and Zehetmayr on the helm. Since then it has come nearer to its roots, whereby the CEO compares it with WeTransfer with a “decentralized backend” and a Ethereum -Token To start out up. The corporate believes that the restore has been successful and claims that it attracts 2.5 million lively month-to-month customers.

As compared, Fyre Pageant is probably one of the vital well-known festivals on the planet all of the flawed causes. It was branded organized as an opulent occasion on a personal islandMarketed by nice celebrities, and mentioned they’re filled with “the most effective in meals, artwork, music and journey.” Tickets price visitors as much as $ 100,000.

On arrival, nevertheless, the Fyre pageant was unveiled as something however luxurious.

Quite the opposite, visitors discovered catastrophe reduction tents as a result of the positioning was nonetheless underneath development, with separate security measures and weak cheese rolls that turned a meme. Ultimately, no nice artists occurred and visitors had been evacuated after the primary evening.

The epic failure has embedded in public consciousness with the 2019 launch of a Netflix documentary, that was nominated For 4 Emmy’s. An try by McFarland – free from jail – to launch a brand new Fyre pageant earlier this yr lastly canceled.

The Limewire group believes that it could actually revitalize the Fyre model, simply because it did with the platform for sharing information.

“In any case, Fyre is a effectively -known model. In fact everybody is aware of it. It is also a problem for us,” mentioned Zehetmayr. “Two infamous manufacturers. We imagine that the manufacturers match collectively.”

Nonetheless, Limewire is solely conscious that it assumes a model that’s ashamed from all corners. It’s even planning to embrace the meme-worthy facet of Fyre’s shortcomings.

“We aren’t making an attempt to take it too severely right here. We aren’t pretending to have purchased a premium model that’s value lots,” Zehetmoyr mentioned Decrypt. “Every little thing we’ll do will probably be clearly based mostly on humor and never take ourselves too severely. I believe that’s actually vital. I believe there are hopefully quite a lot of humorous memes and merches, and many others., sooner or later.”