LimeWire teams up with NFT.Storage for the custodial storage of NFT data

LimeWire teams up with NFT.Storage for the custodial storage of NFT data

We are happy to announce a collaboration with NFT.Storage,  an open-source, decentralized, off-chain storage solution for NFT data like metadata, images and other assets. This will allow the LimeWire marketplace to be as safe as it will be  easy to use.

At LimeWire we want to let everyone, no matter the budget or tech-savviness, participate in owning and offering digital collectibles. A key component of this vision is that we have to make the whole process as frictionless and safe as possible for our users.

LimeWire is designed as a custodial marketplace: Every user has by default a wallet for crypto currencies as well as digital collectibles (NFTs) that we, LimeWire, will be hosting for them. NFTs will both be stored by us on our own system, alongside our collaborator, NFT.Storage (powered by IPFS and Filecoin).

NFT.Storage is an open-source, decentralized, and accessible platform that makes it easy to preserve NFT data on the IPFS and Filecoin protocols. We at LimeWire will be using to upload all the media assets that make up the non-unlockable content. This way, we ensure to protect the media assets of users even in the case of LimeWire being down for any reason. NFT.Storage already serves over 33k users, with over 61 million NFTs secured on IPFS and Filecoin.

“We are very excited to work with NFT.Storage and the R&D team from Protocol Labs to secure the storage of our NFT assets.” , says David Spitzer-Dulagan, CTO at LimeWire.

“The LimeWire team has been incredibly thoughtful in how to balance Web2 and Web3 - to make the benefits of NFTs accessible to creators and their audiences without forcing them to become experts on Web3 overnight. We’re excited to be partnering with them to help ensure all NFTs are stored and persisted on decentralized storage networks.”, says Jonathan Victor, BD Lead at NFT.Storage.

Additional security measurements

To protect content from being shared illegally, we will store unlockable content directly in the LimeWire system. To protect these files there is an authentication layer, so that the media assets are only shown to users that own the NFTs. Sharing of content will not be possible.

In addition to that, LimeWire users will be protected with 2-factor-authentication (2FA). This means that in addition to their username and password, users will be able to activate another layer of security. Without all three, users cannot trade or transfer NFTs.

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