Limewire, Algorand, and the multi-chain future of crypto.
Covered:
- Limewire Announcement; Algorand Response
- Multi-Chain Future Of Crypto
Limewire Announcement; Algorand Response
Limewire announced the other day that it is releasing its first set of NFTs on Ethereum. The web2 orphan had previously announced Algorand as its official blockchain partner.
The move sent shockwaves throughout the passionate Algorand community, even though multi-chain projects are common in crypto. For example, DeFi Kingdoms is on Harmony and Avalanche. Limewire even clarified via blog post that the “majority” of NFTs minted on Limewire will be on the carbon-neutral platform Algorand.
However, it appears the announcement from Limewire came as a surprise to Algorand management. “You think you’re mad about limewire?,” said Staci Warden, CEO of Algorand. “I’ve been talking about them around town as a great example of Web2 to Web3. We’ve reached out to them, believe me. Dialog is always best but as you can imagine, we are not pleased; and we’ll reevaluate our partnership with them accordingly.”
Limewire also stated their reason for starting with Ethereum is that they believe in a multi-chain future. Moreover, Ethereum’s current tech is better suited for their current needs. The ETH-based collection of 10,000 PFPs will be able to be used as PFPs across social media.
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Multi-Chain Future Of Crypto
I think people should calm down a bit about the @limewire thing. $ETH is a sensible place to make a bunch of money on a 10k collection of NFTs.
TrendingHere’s The Latest On The Terra UST SagaAlgorand is a sensible place to build the infrastructure of your NFT-dependent business model.
They’re a business, not #algofam ?♂️
— nobody.algo (@Nobody43373414) June 9, 2022
It’s a mystery as to why Limewire didn’t approach Algorand with this change in strategy. It’s not exactly the best way to do business. Ultimately, though, it shouldn’t be a huge deal.
Quite frankly, Ethereum is where all the action is, at least right now. So it’s understandable that Limewire would want to take advantage of that. It doesn’t mean Algorand is out of the picture. After all, Algorands founder Silvio Micali thinks Algorand is going to be a big part of a multi-chain future: “I really think the future is not going to be one chain that wins them all. So we are going to have multiple chains, and Algorand is going to be one of them.”
Obviously, Algorand understands this too, considering the developer grants they handed out at ETHDenver. It remains to be seen if the relationship can be salvaged, considering Warden’s comments and Limewire’s lack of communication. At the very least, this could be a teachable moment for protocol/dapp communication in a multi-chain world.
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