Miramax says it holds the rights necessary to sell NFTs for the Quentin Tarantino film, “Pulp Fiction.”
Quentin Tarantino announced his venture to enter the world of NFTs earlier this month. While he has yet to announce the exact details, the film director said that he will put seven uncut Pulp Fiction scenes up for auction as Non-Fungible Tokens (NFTs).
On Tuesday, however, Miramax, who financed and distributed the movie in question, filed a lawsuit against the Oscar-winning director. Deadline reported that the company is “looking for statutory damages and declaratory and injunctive relief in a jury trial.”
A lawsuit to protect contractual and intellectual rights
Miramax alleges that the NFT project violates the intellectual property agreement with Quentin Tarantino. In its infringement and breach-of-contract lawsuit against the director, the studio proclaims that he is “eager to cash in” on the NFT boom.
It also states that Tarantino’s move “has forced” the company to bring the lawsuit in order to “enforce, preserve, and protect its contractual and intellectual property rights” to Pulp Fiction. Moreover, his conduct “could mislead others” into believing that Miramax has a role to play in the NFT venture.
The 22-page complaint continues that the director’s plan could also mislead others “into believing they have the right to pursue similar deals.” But, the truth of the matter is that “Miramax holds the rights needed to develop, market, and sell NFTs relating to its deep film library.
Response from Quentin Tarantino
Quentin Tarantino, alongside his reps, has yet to make a comment about the lawsuit. But, his lawyers responded to Miramax’s accusation, saying that the director is acting in his “Reserved Right,” specifically the right to screenplay publication, according to IndieWire.
Meanwhile, Miramax’s camp countered that the studio will “defend all of its rights to its library,” including those that relate to NFTs. They also stressed that the company will not allow Tarantino’s side “to deceive others into believing they have the authority to make similar deals,” which allegedly violate their signed rights agreements.
About the NFT plans for Pulp Fiction
Apart from the unreleased scenes, the collectibles will also include original handwritten scripts, as well as exclusive audio commentary from the director himself. The Pulp Fiction NFTs will be auctioned on the marketplace, OpenSea, according to CNBC.
These Non-Fungible Tokens are built on the Secret Network. Reports said that it is a “blockchain ecosystem that prioritizes privacy.”
The content will only be viewable to those who will own the NFTs. Apart from protecting the unreleased Pulp Fiction scenes, the NFTs will also protect the identity of the owners.
During the announcement, Quentin Tarantino expressed his excitement about the venture. He then said that “Secret Network and Secret NFTs provide a whole new world of connecting fans and artists,” adding that he is “thrilled” to be part of it.
Images courtesy of (1)Oscars/YouTube & (2)Wall Street Journal/YouTube