Winamp is now doing NFTs, and its founder hates them

Winamp is now doing NFTs because either you die a hero, or you live long enough for yourself to become the villain.

Winamp will be auctioning off the original skin of the media player as an OpenSea NFT. Bidding will begin on May 16th and continue until May 22nd. The company plans to then sell 20 additional artworks beginning May 23. Each of these will be duplicated approximately 100 times in order to create 1997 NFTs (a nod towards the year that the program was launched). Each one will cost 0.08ETH. This is equivalent to approximately $225 at current conversion rates. If all 1997 NFTs were sold, it would be close to $450,000.

These 20 designs are derived from Winamp’s original skin and will be selected from public submissions.

says “Send your derivatives over to us,”. This is Winamp’s website. “Winamp’s team of scientists will review every crypto art it comes across and 20 derivatives will then be selected for sale as Winamp’s NFTs.”

If a submission is not selected, the competition’s terms & conditions still grant Winamp a worldwide, nonexclusive, royalty-free license for the use, copy, and display of the Art.

If the work is chosen, the artist gives up all rights and irrevocably transfers the copyright to Winamp. They will be permitted to share it on social media but they must add a notice stating that the copyright is owned by Winamp.

The endeavor is, to be fair, for a charitable cause. The Winamp NFT Initiative supports the Foundation which funds charities like the Music Fund to help musicians. It is possible to support a charity without using widely disregarded blockchain technology.

The charity feels more like it is coming from Winamp than the artists. The Winamp Foundation will receive 80 percent of these NFTs’ initial sales, while the Winamp Foundation will get 20 percent. Artists will only receive $20 per NFT. The reseller gets 80 percent, Winamp receives 10 percent, and the artist gets 10 percent.

Mashable reached out to Winamp to provide a comment.

Winamp was launched in 1997 and quickly became the most popular media player among millions of young people in the early day’s internet. Winamp was known for its customizable skins. Users could choose from thousands of options created by the community to match their desktop’s aesthetic.

Justin Frankel is one of the original creators of Winamp’s media player.

Frankel responded to the announcement by tweeting: “I have spent the past number of years giving owners the benefit of the doubt.” “No more. You are horrible.”

Frankel, who elaborated on his website expressed “[s]trong disapproval due to multiple reasons.”

He wrote, ” The environmental impact is horrible and it is a low-sum ecosystem so any incentive to more people to buy it (or mine-in it) is a bad thing.” To be clear, the skin itself is not being auctioned. A URL that refers to it is. It was created by Tom [Pepper] & Dmitry [Boldyrev], [Winamp co-creators]. “.

Many still have fond memories of Winamp, even though it was discontinued this week. The memory seems to have been eroded by a general dislike for NFTs.