An Unknown Meme Coin Has Acquired the File-Sharing Legend of the 2000s

A Meme Coin Bought LimeWire, 8 Million Users Have Changed Hands

LimeWire, the file-sharing giant of the early 2000s, has new owners, as it has entered a new phase in its development. A popular meme token called BabyDoge has acquired the rights to the LimeWire brand. Although the specifics of the deal are not yet known to the public, as the transaction date was set on September 14, it is possible to say with great certainty that 8 million LimeWire users will soon join the meme coin community of over 3 million token holders.

This Is Not the Old Pirate Site

It is essential to note that the LimeWire brand purchased by the meme coin owners has nothing to do with Lime Wire LLC, the company that was sued in the 2000s and eventually closed its doors in the early 2010s. The last company’s brand was recently purchased by the Zehetmayr brothers and turned into a music NFT marketplace, which was relaunched in 2022. It is noteworthy that the Zehetmayr brothers have handed over the reins of Lime Wire to Abel Czupor, who will manage it from the BabyDoge side in the future.

By the way, the same brothers also bought the trademark of the infamous Fyre Festival, as Bitcoinbázis has reported earlier.

Lofty Goals and Disappointing Token Performance

“Internet is broken”, says Czupor, adding that Big Tech has monopolized data, leaving little for independent creators. That is why the newly acquired Lime Wire brand will create an ecosystem where “AI serves the creator, not the company”. LMWR, the token of this ecosystem, will be used to reward users for storing files in decentralized space and using the company’s AI tools. It is worth noting that BabyDoge will be an official partner of Lime Wire, and the meme coin will function within the ecosystem as a DAO, not as an owner.

Meanwhile, the value of BABYDOGE has declined by almost 94% from its peak, with a market value of about $64 million. As for LMWR, its value dropped by 64.3% this year and another 19.4% this week. The acquisition fits into the overall strategy of consolidating the weakening meme coin market, but lofty goals and poor token performance set the stage for a volatile future.