- Winamp is the latest firm to enter the NFT space with its own collection of 20 NFTs, each designed by a different digital artist. Winamp NFT collection is available on OpenSea.
Winamp, the latest firm to merge nostalgia with cryptocurrency, will launch a non-fungible token (NFT) based on the media player’s original 1997 look. On May 16, 2022, Winamp unveiled its nostalgic look. Twenty NFTs, each designed by a different digital artist and inspired by the original skin, are offered separately.
Wait what…? Winamp NFTs?
The NFT wave, which includes vintage gaming business Atari, has added Winamp to its growing collection of iconic companies in an attempt to reinvigorate the brand mark. Since the late 1990s, the Winamp Foundation has auctioned its renowned 1:1 NFT skin through the Winamp Foundation, an Endeavor „to enable musicians worldwide to make their favorite music.“ From May 16 through May 22, the NFT was available on OpenSea.
In addition, twenty NFTs by-products were available on May 23. NFT artists will create products that must be centered on the Winamp skin. The chosen pieces were released on May 18 by the Winamp team, including researchers. The selected artists will get 20% of the revenues from the first sale of their NFTs. The NFTs are all valued at 0.08 ETH ($150).
Furthermore, the creators would get a ten percent royalty on any subsequent or future sales. The leftover 80% of the first purchases will benefit charitable organizations such as Winamp’s first partner Music Fund. NFT buyers will get a blockchain token linked to a traditional skin picture or one of its variations, which is a standard configuration for NFTs. According to Winamp’s Director of Business Development, Thierry Ascarez.
The selected artists must agree to surrender all copyrights for their work to Winamp, as indicated in the terms and conditions. Winamp isn’t the same service you may recall from the 1990s. AOL bought the MP3-playing technology in 1999, and after a protracted fall and closure, it was sold to internet radio business Radionomy in 2014. It was relaunched as a mobile audio app by Radionomy (and afterward by its primary partner AudioValley), with a more extensive relaunch planned for this year. For the original app, there’s also a long-running community update initiative.
Winamp’s present shape, on the other hand, has a more significant link to its initial form than several crypto projects. For example, LimeWire, the venerable peer-to-peer file-sharing program, recently „relaunched“ as an NFT marketplace, although it bears little resemblance to its earlier incarnation; a new business appears to have just purchased the domain name and resurrected an expired trademark.
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