At a recent crypto art convention in New York, Quentin Tarantino announced that he would be selling NFT (Non Fungible Token) based on the Pulp Fiction script. It will not be so easy: Miramax studios sued Quentin Tarantino for copyright infringement.
What are NFTs
They function as a certificate of authenticity – due to their status as an “inimitable” asset – that runs on a blockchain network, that kind of book in which all kinds of goods and actions are registered, and which is being permanently legitimized with the use of participants.
The NFTs linked to art can be works born digital and for this market modality. But also it is possible to tokenize a classic work, a work of a historical teacher.
Quentin Tarantino, targeted by Miramax, for violating an intellectual property agreement.
The Tarantino case
“I am excited to present these exclusive scenes from Pulp fiction to the fans, ”Tarantino said in a Nov. 2 press release, which was shared by US media outlets.
The plan is to auction NFTs based on excerpts from the original handwritten script. of Tarantino for the film, accompanied by comments. The “Tarantino NFT Collection” is being launched in partnership with SCRT Labs and the Secret Network, who are trying to create a new kind of NFT with “secret” content embedded in it.
But it will not be so easy. Miramax alleges that its intentions to sell unreleased scenes from Pulp fiction violates your intellectual property agreement.
Quentin Tarantino announced his plans to sell Pulp Fiction’s NonFungible Token (NFT).
The Miramax lawsuit
According to the demand, Tarantino did not consult with Miramax beforehand, which still owns the rights to the classic film. from the director, released in 1994.
“Tarantino’s conduct has compelled Miramax to file this lawsuit against a valued collaborator to enforce, preserve and protect its intellectual and contractual property rights related to one of the most iconic and valuable cinematographic properties of Miramax, “the company wrote in its lawsuit. The Hollywood Reporter.
Text continues “If left unchecked, Tarantino’s conduct could mislead the belief that Miramax is involved in his business. And you could also mislead others into believing they have the rights to seek similar deals or offers, when in fact Miramax owns the necessary rights to develop, market and sell NFT related to your movie library ”.
Bruce Willis and John Travolta, together in “Pulp Fiction”.
Although Tarantino’s legal representatives did not comment. it was learned from the lawsuit itself that the director’s attorneys they told Miramax that Tarantino was acting within his “rights reserved”, specifically the right to publish the script with the NFT plan.
How is the token issue
Acquiring a token within a chain of blocks of the digital universe, or blockchain, is to use pieces that in the analog equivalent come to compare them with works of art, due to the unique character they have and the expectation value that each one of them can report. them.
For example, the first Twitter post, written by Jack Dorsey, one of the founders and current CEO of the social network, was sold as an NFT for $ 2.9 million. That text consisted of just five words (“Just setting up my twttr”, in Spanish “Configuring my Twttr account”).
It is a message then lacking in value, but today with a millionaire price for having been the testimony of a historical moment for a social network that has about 350 million active users.
Reference from clarin