Users can now connect their Metamask wallets from a range of browsers, and upload 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’re proud to launch the first standalone player that reads audio NFTs, in addition to any other formats out there,” Winamp CEO Alexander Sapondjian said in a statement.
There may 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 has partnered with Warner Music and LGND Music to build a “collaborative digital collectible” music platform.
Dubbed LGND Music, the platform is slated to launch in January 2023 and will provide users with an easy-to-use platform for buying and collecting NFTs for music.
Investopedia: NFT Taxes Explained, Hire an Accountant
Financial media site Investopedia has published a detailed breakdown of NFT tax law in the US emphasizing that people should probably hire a tax professional if they don’t want the Internal Revenue Service (IRS) on their tail.
The site offers a comprehensive Wikipedia-style explanation of various complex terms in the finance field, and finally added an NFT tax guide on December 5.
One major takeaway is that the IRS has not yet issued “specific guidance” on how to report gains and losses from NFT sales on tax returns, which indicates a significant gray area to navigate for taxpayers.
Some NFTs are likely to be classified as collectibles if they focus solely on art, while others used for utility purposes, particularly as a business use “may qualify for capital gains treatment.”
“NFTs will fall somewhere between cryptocurrencies, which are taxed as property and have a long-term capital gains rate of 0-20% depending on income, and holdings, which have the highest capital gains rate at 28%,” the guide reads.
Crypto.com and Coca Cola’s World Cup NFTs
Cryptocurrency exchange Crypto.com and beverage giant Coca-Cola have partnered to launch a unique set of NFTs depicting player heat maps from matches in the 2022 F World Cup.
According to the Dec. 5 announcement, the artwork for the array of 10,000 NFTs was designed by digital artist GMUNK, who has worked on the popular sci-fi films Tron: Legacy and Oblivion. However, the exact launch date has not been detailed.
Heatmaps in soccer are generally used to show a player’s performance during a match, as they indicate how much of the field they cover and which specific areas they have spent the most time in.
Using in-game data to create artwork may offer a new way to create collector’s items from major sporting events.
Drop Crypto.com x Coca Cola NFT. Image: Crypto.com
Atari’s new concept: Material Art
Japanese video game giant Atari has teamed up with print-on-demand company Pixels.com to come up with a revolutionary concept around printed NFT artwork.
Related: Malta prepares to review regulatory treatment of NFTs
While some may be happy looking at Atari NFT art digitally, others enjoy physical artwork.
To that end, according to the Dec. 6 announcement, Atari NFT holders can now connect Ethereum-based wallets to Pixels and turn them into framed prints or posters.
Those who don’t own Atari NFTs can also right-click and save images of those selected NFTs, then print them pixel by pixel anyway.
Other Nifty news:
Digital entertainment, blockchain and gamification company Animoca Brands has acquired a majority stake in Los Angeles-based music gaming platform Metaverse, Pixelynx.
A Chinese court in Hangzhou has said that NFT pools are online virtual property that must be protected under Chinese law.