Winamp will market a non-fungible token linked to its original 1997 graphical skin. This makes it the latest company to combine nostalgia and crypto. OpenSea will allow Winamp to put the NFT on sale between May 16th-May 22nd. Then, there will be a separate sale for 1997 total NFTs that are based upon 20 artworks taken from the original skin. The Winamp Foundation will receive the proceeds and promise to donate them to charities, including the Belgian Music Fund.
NFT sales appear to be both a publicity stunt and a fundraising initiative. Winamp will source the NFTs for derivative art by asking artists to submit Winamp works between now and April 15, then giving 20 percent to selected artists from every sale of their image as an NFT. The 19 pieces will be sold in 100-copy editions, while the remaining one will have the 97. All the pieces will go for 0.08 Ethereum, which is approximately $210 at the current exchange rate. Artists will receive 10 percent of royalties for any subsequent sales. The seller will determine the price.
Thierry Ascarez, Winamp’s head for business development, tells that buyers will receive a blockchain token linked with an image of the original skin or one of its derivatives. This is a common setup to support NFTs. The buyer will be allowed to copy, reproduce, display and display the image but not the copyright. A page will outline the terms and conditions.
Winamp is not exactly the service that you may have used in the ’90s. After a lengthy decline and a shutdown, AOL acquired the MP3-playing software in 1999. then sold it to online radio company Radionomy. Radionomy, and later AudioValley, were major shareholders in the acquisition of MP3-playing software. updated it to make it a mobile audio app. Then, announced a broader launch for this calendar year. For the original app, there is a ongoing community update project.
There is a stronger link between Winamp’s current form, and its original one than with some crypto projects. LimeWire, a peer-to-peer file sharing service, recently “relaunched” as an NFT marketplace. However, it has no connection to its prior iteration. A new company appears to have just purchased the domain name and revived an old trademark. This is closer to the resurrected RadioShack plans to launch cryptocurrency marketplace. However, this NFT sale is only a part of its relaunched as a music service and not a larger move into crypto