NFT music on Winamp
Old school classic PC-friendly media player Winamp has rolled out support for Ethereum and Polygon-based music nonfungible tokens (NFTs) in the latest update of its desktop player.
Winamp has been around since 1997 and was one of the most popular media players for PC users but has since been overtaken by Windows Media Player and Apple’s dominant iTunes.
It has a reputation for supporting a wide range of media files, and in the latest update announcement on Dec. 7 the Winamp team noted that NFT support is officially live and ready to go.
@winamp I have fond memories of Winamp from back in my youth. Are we ever going to see a official integration with @Spotify? I’d love some sweet early 2000’s visualizations with my beats
— Sjoerd Stottelaar (@sjoerds) December 6, 2022
Users can now connect their Metamask wallets from a host of browsers, and load up the music embedded in ERC-721 and ERC-1155 tokens minted on Ethereum and Polygon.
“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.
There could soon be a lot of Polygon-based music NFTs to choose from as well. The team behind the Ethereum scaling solution also announced on Dec. 7 that it had partnered with Warner Music and LGND Music to build a “collaborative, digital collectible” music platform.
The platform, dubbed LGND Music, is set to roll out in January 2023 and will provide users with a user-friendly on-ramp to buy and hodl 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
Investopedia: NFT taxes explained, hire an accountant
Financial media website Investopedia has published a detailed run-down of NFT tax law in the United States emphasizing that people should probably hire a tax professional if they don’t want the Internal Revenue Service (IRS) on their tail.
The website offers an extensive Wikipedia-style explanation for the various complicated terms in finance and finally added an NFT Tax Guide on Dec. 5.
A key takeaway is the IRS is yet to issue “specific guidance” about how to report gains and losses from NFT sales on tax…
Click Here to Read the Full Original Article at Cointelegraph.com News…
