Winamp, a media player for Microsoft Windows, will announce its nostalgic skin on May 16, 2022. Twenty NFTs inspired by the original skin, created by different digital artists, are sold apart.
Winamp is on the growing list of classic brands joined by the NFT wave, consisting of old gaming company Atari, in a bid to revitalize the brand label.
Via the Winamp Foundation, an initiative “to support musicians around the world create their favorite music,” the brand will auction off its iconic 1: 1 NFT skin since the late 1990s. The NFT will be accessible on OpenSea beginning from May 16 to 22.
Besides, twenty NFTs by-products will be released on May 23. The by-products will be derived from NFT artists and must be based on the Winamp skin. Submissions began earlier the current week until April 15.
The Winamp team, that also includes scientists, is scheduled to release the selected pieces on May 18.
Chosen artists will receive twenty percent of the proceeds from the initial sale of their NFTs. 19 pieces will be sold in versions of 100 copies, while the rest will have 97 copies. All the NFTs will be priced at 0.08 ETH, about $200.
In addition, the artists will get ten percent of any royalties on secondary or subsequent sales. The remaining 80% from the first sales will be given to charity projects, such as Winamp’s initial partner Music Fund.
NFT purchasers will receive a blockchain token associated with a classic skin image or one of its derivatives, a common setup for NFTs, As reported by Thierry Ascarez, Winamp Business Development Director.
The chosen artists should agree to transfer all intellectual property rights for their output to Winamp, as mentioned in the terms & conditions.
