Quentin Tarantino and Miramax reach a deal on Pulp Fiction NFTs – KryptoTrends News
According to Cointelegraph, the movie company asserted ownership of all of the movie’s rights, save those reserved for Tarantino and the NFTs.
Hollywood filmmaker Quentin Tarantino was sued by American producer Miramax in November of last year after base-layer blockchain service company Secret Network announced the sale of unedited script portions from the 1994 movie as non-fungible tokens (NFTs). According to Cointelegraph, the movie studio asserted ownership of all rights to the film Pulp Fiction, with the exception of those reserved for Tarantino and the NFTs.
For the time being, the corporation plans to build its NFT approach, according to Cointelegraph. The studio’s lawyer, Bart Williams, said in a statement, “This one-off attempt devalues the NFT rights to ‘Pulp Fiction,’ which Miramax wants to maximize through a systematic, comprehensive strategy.”
Secret Network asserted that Tarantino has exclusive rights to secure the publication of his Pulp Fiction script and that the original, handwritten copy has been kept secret for decades based on information provided by Cointelegraph and information from the auction’s press release. Following the postponement of subsequent NFT sales due to the disagreement, the auction in January raised a total of $1.1 million.
After months of litigation, it appears that Tarantino and Miramax have reached a deal on the dispute about NFTs based on Pulp Fiction. According to reports, the movie company plans to drop its lawsuit in two weeks and work with the director going forward, including on NFT productions.
Additionally, Tarantino and Miramax have previously worked together on projects for movies like Kill Bill: Volumes 1 and 2, according to Cointelegraph. According to reports, Pulp Fiction made $107.93 million domestically and $213 million internationally during the years after its 1994 premiere.
The Cointelegraph website, which was established in 2013, is a digital media source that provides news on a variety of topics, including blockchain technology, cryptocurrency assets, and new developments in financial technology (fintech).
