According to recent reports, Winamp is looking to sell an NFT linked to its original 1997 graphical skin media player. By doing so, Winamp will become the latest firm to blend crypto and nostalgia.
Several reports have also claimed that the firm will auction the NFT between the 16th and 22nd of May 2022. After that, an independent sale of 1997 NFTs designed off 20 distinct artworks produced from the original skin will follow.
The company has also affirmed that proceeds generated from these sales will be diverted to the Winamp Foundation. The Foundation promises to donate the funds to several charity initiatives with the first one being the Belgian nonprofit Music Fund.
Following the trend, this NFT sale seems to be a blend of fundraising efforts and a publicity move. Presently, Winamp is sourcing the art NFT to independent artists, asking them to submit artworks based on Winamp between now and the 15th of April.
The artists selected will be offered 20% for each of their artwork sold as NFT. Also, 19 of the 20 artworks will sell 100 copies each while the last one will sell 97 copies to make the total 1997 NFTs. Each NFT is said to go for 0.08ETH which is about $210 at Ethereum’s current price. The artist will also be entitled to royalties of 10% on subsequent sales where the seller determines the price.
According to Thierry Ascarez, the head of business development at Winamp, holders of the Winamp NFTs will have a blockchain token connected to the image of the original skin or more of its offshoots. Apparently, this setup is quite common among NFTs.
Thierry also claims that holders will also have the liberty to reproduce, display and copy the image, however, the holder won’t own the copyright. Similarly, artists selected will also enter an agreement to transfer their work’s intellectual property to Winamp. A clause they will find in the contract’s terms and conditions.
Certainly, Winamp isn’t exactly the company you might remember from the 90s as it has grown and evolved over the years. In 1999, the company was acquired by AOL but was again sold in 2014 to Radionomy, an online radio company following a long decay and shut down.
Eventually, Radionomy revamped the MP3-playing software into a mobile audio app and eventually announced a relaunch this year. To better see the community, Radionomy is also working on an updated project for the entire community regarding the original app.