NFT Music on Winamp
winampthe classic old-school media player for PC, has released support for Ethereum and Polygon-based music non-fungible tokens (NFTs) in latest desktop player update.
Winamp has been around since 1997 and was one of the most popular media players among PC users.but has since been overtaken by Windows Media Player and Apple’s dominant iTunes.
Winamp is reputed to support a wide range of multimedia files.and in the latest update, announced on December 7th, the Winamp team announced that NFT support is now officially available.
@winamp I have fond memories of Winamp from back in my youth. Are we ever going to see an official integration with @Spotify? I’d love some sweet early 2000’s visualizations with my beats
— Sjoerd Stottelaar (@sjoerds) December 6, 2022
I have fond memories of Winamp from my youth. Will we ever see an official integration with @Spotify? I would love some early 2000’s visualizations with my beats.
Users can now connect their Metamask wallets from many browsers and load the music embedded in ERC-721 and ERC-1155 tokens minted on Ethereum and Polygon.
“Winamp’s genesis has always been accessibility and innovation, and today we are proud to release the first standalone player that reads NFT audio as well as any other existing formatWinamp CEO Alexandre Saboundjian said in a statement.
There could soon be plenty of Polygon-based music NFTs to choose from as well. The team behind the Ethereum scaling solution also announced on December 7 that it had partnered with Warner Music and LGND Music to create a “collaborative digital collectible” music platform“.
The platformbaptized as LGND Music, will go live in January 2023 and offer users an easy-to-use onramp to buy and redeem music NFTs.
With a seamless, easy-to-use on-ramp, you can buy & own music tokens, even if you’re not familiar with digital collectibles.
Rolling out in Jan 2023 and collaborating w/ the world’s leading dance record label, @SpinninRecords
— Polygon-MATIC (@0xPolygon) December 6, 2022
With a smooth and easy-to-use on-ramp, you’ll be able to buy and own Music Tokens, even if you’re new to digital collectibles.
Released in January 2023 and collaboration with @SpinninRecords, the world’s largest dance music label.
Investopedia: NFT Taxes Explained. hire an accountant
The financial media website Investopedia has published a detailed review of the tax legislation on NFTs in the United States in which it emphasizes that people should probably hire a tax professional if they don’t want the IRS to come after them.
The website offers a comprehensive, Wikipedia-style explanation of the various tricky terms in finance, and lastly, added a NFT Tax Guide on December 5th.
One of the main conclusions is that the IRS has not yet issued “specific guidance” on how to report profits and losses from NFT sales on tax returnsindicating that there is a large gray area for taxpayers to navigate.
Some NFTs are likely to be classified as collectibles if they are purely focused on art, while others used for utilitarian purposesespecially in relation to business use “eligible for capital gains treatment”.
“NFT taxation will fall somewhere between cryptocurrencieswhich are taxed as property and have a long-term capital gain rate of 0-20% based on income, and collectibles, which have a maximum capital gain rate higher than 28%“, says the guide.
Crypto.com and Coca Cola NFTs for the World Cup
Crypto.com cryptocurrency exchange and beverage giant Coca-Cola have partnered to launch a unique set of NFTs that represent the heat maps of the players in the matches of the 2022 Soccer World Cup.
As announced on December 5th, the artwork for the 10,000 NFT collection has been designed by digital artist GMUNK, who worked on the popular sci-fi movies Tron: Legacy and Oblivion. However, a specific release date was not detailed.
In soccer, heat maps are generally used to show a player’s performance during a match.since they indicate what part of the field he covers and in which specific areas he spends more time.
Using game data to create artwork can be a novel way to create collectibles from major sporting events.
Atari’s New Concept: Physical Art
The Japanese video game giant Atari has partnered with print-on-demand company Pixels.com to launch a revolutionary concept revolving around NFT print art..
While some are content to see their Atari NFTs in digital form, others enjoy the physical works of art.
To that end, according to a December 6 announcement, Atari NFT holders can now connect Ethereum-based wallets to Pixels and transform them into framed prints or posters.
Those who don’t own Atari NFTs can also right-click and save the images of those specific NFTs, then print them via Pixels..
Other Nifty News:
The digital entertainment, blockchain and gamification company Animoca Brands has acquired a majority stake in the metaverse, gaming and music platform Pixelynxbased in Los Angeles.
A Chinese court in the city of Hangzhou has declared that NFT collections are online virtual property that must be protected under Chinese law.
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