As Secret Network (a blockchain service provider) declared the sale of his untrimmed scenes through an auction, Miramax took legal action against Quentin Tarantino (a prominent Hollywood director) in November 2021.
Legal Case between Quentin Tarantino and Miramax on Pulp Fiction NFTs Seemingly Resolved
Miramax filed a case against the director in the previous year since the Secret Network (a provider of blockchain services) declared the public sale of the uncut scene of a hit movie (which was released in 1994) as non-fungible tokens (NFTs). The movie studio stressed that the entire copyrights of this movie are reserved by it, excluding the ones that are owned by Tarantino and non-fungible tokens are not included among them.
The organization was formulating a specialized method for NFTs at the respective point. Bart Williams, the attorney of the studio, mentioned in an official statement that this endeavor decreases the worth of copyrights of NFTs for the movie, which Miramax wanted to increase by using an inclusive and strategic method.
On the occasion of the exclusive press release made for the auction, Secret Network specified that Tarantino possessed the original rights to publish the original copy of Pulp Fiction. The original, handwritten version of the respective film was kept by him for many years as personal property. In January, the auction earned almost $1.1M in its revenue. Later on, the sale of NFTs got canceled as a result of growing conflict.
Miramax and Tarantino have worked together in a collaboration taking into account different famous projects such as both the volumes of the super hit film named Kill Bill. The Blockbuster, Pulp Fiction generated profits of up to $107.93M across the U.S. as well as earned approximately 2.13M during these years starting from its release in 1994.
The Director and the Producer of Pulp Fiction to Collaborate in Future
Miramax (a film-producing company) and Quentin Tarantino (a well-known Hollywood director), had a legal contest comprising 1 month. Now it seems that the parties have decided to resolve their issue regarding the non-fungible tokens.
It has been stated in a report that the film studio under discussion has made a strategy to withdraw the legal case in a forthcoming couple of weeks. It is also planning to have a collaborative work on Non-fungible tokens in association with the respective movie maker in the coming time.
Disclaimer: NFTs and Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Business Voices content) and the views expressed in these types of posts do not reflect the views of this website. Please read our full disclaimer here.
