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Fyre Festival is ready for its next chapter ... the infamous music festival has been acquired by LimeWire -- 8 years after its initial chaotic launch.

Reps for LimeWire tell TMZ ... the software company has acquired the Fyre Festival brand, with the purpose of launching a whole new project under this collaboration. The acquisition came about after a bidding war with Ryan Reynolds ' company, Maximum Effort.

A source with knowledge tells TMZ ... Ryan put in a bid, since Maximum Effort was already making an ad for Visa skewering Fyre ... so, why not?!

Reynolds has since congratulated LimeWire on winning the bidding war, noting he looks forward to attending their first event ... though, he jokes he'll bring his "own pallet of water."

LimeWire likely isn't bothered by this jab, e

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