In two days, there will be an auction for the first pulp fiction NFT. This is a historic moment for the nascent industry that will set a precedent for years to come. When Quentin Tarantino and Secret Network announced a partnership aimed at releasing NFTs from classic ’90s movies, the world listened. Unfortunately for them, so did Miramax. The studio still owns the rights to Pulp Fiction, so they sent a cease and desist letter.
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The caveat here is that “The Secret Network’s unique value proposition is in the name; the NFT will be “secret” and only accessible by the NFT owner.” When NewsBTC covered this Story, we explain:
“This fact makes lawsuits endless. Only people who buy the NFT can see what’s inside, so Miramax doesn’t know what kind of content they’re suing. Outside of the marketing material, they are as clueless as the rest of us about the actual content.”
What has happened since then? a lot of. Let’s explore new developments in the case.
— Tarantino NFTs (@TarantinoNFTs) January 10, 2022
Unpublished scenes and footage
Initially, this means that the NFT will contain unpublished material from Pulp Fiction. Miramax came into the picture and everything changed. Again, from a previous report from NewsBTC:
“On the day of the announcement, the secret network rissue a statement To quote the director himself.
“I’m excited to show fans these exclusive scenes from PULP FICTION,” Tarantino said. “Secret Network and Secret NFT offer a whole new world of connecting fans and artists, and I’m excited to be a part of that.”
Tarantino’s words hint at simpler times. We are far from that stage. “
The content of Pulp Fiction NFTs has changed
After the cease and desist letter, it was discovered that Tarantino only retained the rights to the pulp fiction script. recent, IndieWire cites a statement Proskauer Rose, a lawyer at Miramax, sent them:
“Tarantino’s team has not attempted to dismiss any of Miramax’s claims, nor have they filed any counterclaims or motions against Miramax, and since Miramax filed its lawsuit, the proposed sale of promotional sites and Twitter accounts has been scaled back from unauthorized use from Miramax. Images from Movies (including Pulp Fiction)”
He is right.an accidental visit @TarantinoNFTs Twitter accounts will show that those involved in the sale scrambled all the pulp fiction-related images and replaced them with text or high-contrast images of Quentin Tarantino himself. The content of NFTs has also changed, and now secret networks describe them as:
“Tarantino has the exclusive rights to publish his Pulp Fiction screenplay, and the original handwritten copy remains a personal creative treasure that he has kept secret for decades. By partnering with SCRT Labs, Tarantino brings this historic document to the fore. chapters into a one-of-a-kind NFT publication. Each NFT in the series includes an iconic scene, as well as a personalized audio commentary by Tarantino himself.”
Are they legal now? This is where the problem lies.
SCRT Market Cap, calculated by TradingView | Source: TradingView.com
Secret Network Earnings
The auction runs from January 17th to 31st. As originally announced, it will happen on the secret network, not on OpenSea. Did OpenSea escape controversy and possible lawsuits? We won’t know. On the other hand, secret networks are taking the situation to an extreme.
Their press release quotes Guy Zyskind, founder and CEO of SCRT Labs:
“Secret Network is proud to stand with Quentin. We are committed to partnering with talented artists around the world to give them a better way to release their work directly to fans without relying on old distribution models, which This model favors conglomerates over creators.”
3 days left. Historical Fact #1:
Quentin Tarantino wrote the script himself ✍️ For Pulp Fiction, he kept the original script private for 28 years. * This priceless history will be revealed for the first time at next week’s auction – but only for buyers 🤫 https://t.co/wXbIUPOXUO pic.twitter.com/msgwomNs27
— Tarantino NFTs (@TarantinoNFTs) January 14, 2022
As far as they are concerned, Miramax’s lawyer wrote him a letter claim:
“Contrary to what you say, what Mr Tarantino and his team are telling you is,
You do not have the necessary rights to cast pulp fiction NFTs described in your press releases and other promotional materials;
You do not have the necessary rights to market or promote these NFTs; and
Although you now have the role of an auctioneer, you do not have the necessary rights to promote and sell these NFTs. “
Not only that, but they also include direct threats to would-be NFT buyers:
“We want you to also inform potential buyers of the risks of purchasing these unauthorized NFTs, including that the buyer may have to return the NFT to Miramax and forfeit the price they paid for such NFT, and that the buyer may Under the additional responsibility they later sell unauthorized NFTs”
Guy Zyskind Response? He replied on Twitter:
“Your attempts to bully and intimidate us and our community will not work. Despite your efforts to disrupt, the legitimate sale of TarantinoNFTs will proceed as planned.”
Hey @mirramax. Receive your letter. Your attempts to bully and intimidate us and our community will not work.This legal sale @TarantinoNFTs It will continue as planned despite your efforts to break it.https://t.co/1Qjkgfy8U1 pic.twitter.com/jpjbYDNmNp
— Guy Zy𝕊kind (@GuyZys) January 10, 2022
This TarantinoNFTs account contributed “We’re not going to be stopped. We’re not going to let bullies terrorize our community,” he said during the conversation.
Is it enough? Or did they make a big mistake? Is Miramax right? Or do they turn to intimidation knowing they have no legs to stand on?
Turn on NewsBTC next month for the next chapter in the exciting saga of Pulp Fiction NFTs.
Featured Image: Tarantino NFT Collection promotional material | Charts by TradingView