For this, this information has been given on the website created by Winamp. 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.
In a statement to The Verge, Winamp’s Head of Business Development, Thierry Ascarez, explained that NFT purchasers will be awarded a blockchain-based token of the original 1997 image or an image linked to 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.
<!–
–>
For the latest tech news, smartphone reviews and exclusive offers on popular mobiles, download the Gadgets 360 Android app and follow us on Google News.
Related news
,