Winamp now does NFTs

The only way to die a hero is to live long enough to become the villain.

Winamp will auction off the media player’s original skin as a one-of-one NFT on OpenSea starting May 16 and running until May 22. From May 23, it plans to sell 20 more artworks, each reproduced roughly 100 times to make 1997 NFTs (a nod to the year the programme launched). Each NFT will cost 0.08 ETH, or around $225 at the current exchange rate, thus selling all 1997 NFTs will total about $450,000.

From the original Winamp skin, 20 designs will be picked from public submissions.

“Send us your derivatives,” Winamp’s website says. In addition to cryptoArt, Winamp scientists will pick 20 variants to sell as Winamp’s NFTs.

A non-winning entry nevertheless grants Winamp “a global, non-exclusive, royalty-free permission to use the Art.”

If chosen, the artist relinquishes all rights to their work and gives Winamp the copyright. They can share it on social media, but they must include a note stating that the copyright and all rights belong to Winamp.

Fair enough, it’s for a good cause. The Winamp NFT Initiative supports the Winamp Foundation, which funds music-related nonprofits including Music Fund. Still, it is feasible to donate without using the despised blockchain technology.

It also feels like the artists are doing the giving, not Winamp. While 80% of the initial sales proceeds will go to the Winamp Foundation, only 20% will go to the artists, or roughly $45 per NFT. 80% goes to the reseller, 10% to Winamp, and 10% to the artist.

Winamp, released in 1997, was the popular media player for millennials in the early internet days. The application was known for its changeable skins, with users able to pick from thousands of community-made alternatives.