In its latest update, the classic Windows media player Winamp has integrated music NFTs into its platform. Winamp’s new feature will allow users to play audio files embedded in their non-fungible tokens, calling it a Web3 desktop upgrade.
Launched in 1997, Winamp’s latest version lets music fans link their Metamask wallet via Brave, Chrome, or Firefox browsers to Winamp. Winamp supports ERC-721 and ERC-1155 audio and video files and is compatible with Ethereum and Polygon.
NFTs prove digital ownership and provide a tamperproof record of transactions involving a digital asset. In recent years, NFT enthusiasts have also begun exploring applications linking NFTs to other digital media like movies, music, tv shows, and real-world assets.
Justin Blau aka 3LAU, CEO of Royal, talks to Decrypt's Kate Irwin about building his company around compliance from the start. "We take compliance so seriously that it might make us move a little bit slower... but we think that's really how we have to build in the space." He also said he looks to Coinbase as a model.
“The genesis of Winamp has always been about accessibility and innovation, and today we are proud to launch the very first standalone player reading audio NFTs, as well as any other existing formats,” said Winamp CEO Alexandre Saboundjian in a statement. “This new version of Winamp allows people to listen to any file they want, using a player they already love.”
Winamp says its NFT support will be coupled with other updates to make Winamp a universal and advanced listening platform that will include a cross-platform creator service that will launch in early 2023.
“Winamp was a key part of the first digital music innovation, when mp3s changed the way we listen and enjoy music,” Saboundjian said. “Now we’re supporting the leading edge of the next one, as more and more artists explore web3 and its potential.”
Royal, one of the biggest names in the burgeoning music NFT space, has finally launched its long-promised marketplace for music royalty rights.
Started by electronic musician and entrepreneur Justin “3LAU” Blau and Opendoor founder JD Ross, Royal raised $16 million in its seed funding round in August 2021. Last November, the Web3 music startup raised another $55 million in funding from Andreessen Horowitz, Coinbase Ventures, and Paradigm, along with popular musicians like Nas and The Chainsmok...
Earlier today, Warner Music Group announced that it would release music NFTs through LGND, a Polygon-based marketplace.
Last month, musician, entrepreneur, and music NFT enthusiast Justin “3LAU” Blau launched the Royal NFT marketplace. According to Royal, when a collector invests in songs or albums on the platform, they get a token representing a percentage of the music’s streaming rights and more.
“You earn royalties alongside the artist and get paid when they do,” the Royal website says.
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