Proceeds from this sale will go to the Winamp Foundation, which donates to charity projects supporting music and musicians.
Winamp, a third-party media player popular in the music streaming industry for more than two decades, has decided to sell a non-fungible token (NFT) linked to the original 1997 image of its media player. The auction for this NFT will be done through OpenSea. After this, 20 artworks made from the original images will be sold separately. Proceeds from this sale will go to the Winamp Foundation, which donates to charity projects supporting music and musicians. For this the website
created by WinampBut this information is given. Winamp plans to acquire derivative art NFTs through a process in which artists will be able to submit work related to Winamp by April 15. The auction will take place from May 16 to 22. Selected artists will be given 20 percent of the proceeds from each sale of their images as NFTs. Winamp said that the selected 20 artworks will be sold in editions of 100 copies. Their price will be 0.08 Ethereum (approximately $210). Artists will get 10 percent as royalty for secondary sales. In this the seller will be able to set his own price. A statement
to The VergeIn 2012, Winamp’s Head of Business Development, Thierry Ascarez, explained that NFT purchasers would be given a blockchain-based token of an image linked to the original 1997 image or one of its derivatives. Selected Artists must consent to transfer all Intellectual Property for their work to Winamp.
Winamp CEO, Alexandre Saboundjian, said in a press release, “We want to help the artist community that is helping with the development of new Winamp products. The Winamp Foundation’s work to support music and musicians is important.” Winamp has selected MusicFund as the first charity to donate. It is a non-profit organization that collects and repairs musical instruments and then donates them to music schools and ongoing projects in difficult areas. Such musical instruments are also donated by the organization in the countries of Europe.