[ Thanks to kiterunner for this link.
]
“Wterm is another light weight terminal emulator based on rxvt
code. Features of wterm include background images, transparency,
and reverse transparency. An extensive set or runtime options are
available resulting in a very customizable terminal emulator. Click
here to install wterm in Ubuntu. Visit project page for more info.
The downside is that, wterm doesn’t look like a project that is
actively maintained anymore.”