LimeWire, the company that has transformed from a file-sharing platform to a Web3 enterprise, has acquired the notorious Fyre Festival brand rights. The company plans to inject cryptocurrency elements into the brand and relaunch it.

LimeWire announced on Tuesday that it has acquired the trademarks, logos, domain names, and social media accounts of Fyre Festival. LimeWire's Chief Operating Officer Marcus Feistl told Cointelegraph that the new version will include offline events, and LimeWire's LMWR token will support the use of products and services.

Fyre Festival became a symbol of failed hype in 2017. That year, the organizers promised a luxurious music event in the Bahamas, but the event ended in chaos, with participants stranded on-site and lacking proper food and accommodation. Its founder, Billy McFarland, was later convicted of fraud and imprisoned. LimeWire confirmed that Billy McFarland is not involved in this new project.

Feistl stated that the project is managed by a brand new and independent team. He also promised that this time they would not repeat the mistakes of Fyre Festival's initial launch. Feistl said, "We will never make the same mistakes as before. Our planning for Fyre is not limited to digital products; we are also exploring real-world experiences."

According to a July report by The New York Times, the Fyre Festival brand rights were sold on eBay for $245,000. Feistl told Cointelegraph that LimeWire acquired "the trademarks, logos, domain names, and social media accounts," and believes this encompasses "all relevant intellectual property of the brand."

Although the company did not disclose many details, LimeWire stated that the LMWR token will be a core element of the project, driving the use of future products and services. LimeWire's CEO Julian Zehetmayr stated that the company is not bringing back the music festival itself, but rather "reviving the brand and the meme."

LimeWire indicated that the LMWR token will be deeply integrated into the new Fyre Festival project. Feistl added that LMWR can be integrated into the new Fyre project in various ways, mentioning applications focused on utility and marketing.

LimeWire was a popular peer-to-peer file-sharing service in the early 2000s and ceased operations in 2010. In 2022, after the brand name changed hands, LimeWire returned as a non-fungible token (NFT) platform.

In 2023, LimeWire launched a Web3 game themed around the Microsoft Windows XP operating system, evoking nostalgia for digital piracy in the 2000s. Recently, by launching a decentralized file-sharing feature supported by BNB Greenfield, the company has also returned to its roots.

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Original: “LimeWire Revives Notorious Fyre Festival Brand with Web3 Technology”

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