Winamp will sell a non-fungible token (NFT) linked to its media player’s original 1997 graphical skin, becoming the latest company to blend nostalgia and crypto. Winamp will put the NFT up for auction through OpenSea between May 16th and May 22nd, followed by a separate sale of 1997 total NFTs based on 20 artworks derived from the original skin. The proceeds will go to the Winamp Foundation, which promises to donate them to charity projects, starting with the Belgian nonprofit Music Fund.
The NFT sale appears to be a combination of a publicity move and a fundraising effort. Winamp is sourcing the derivative art NFTs by asking artists to submit Winamp-based works between now and April 15th, then giving selected artists 20 percent of the proceeds from each sale of their image as an NFT. Nineteen of the pieces will sell in editions of 100 copies, and the remaining one will have 97; they’ll all sell for 0.08 Ethereum — around $210 at current exchange rates. The artists will get 10 percent of any royalties on later sales, where the seller will set their own price.