In two days, the first Pulp Fiction NFT auction will take place. A historic moment for the emerging industry, a moment that will set a precedent for years to come. When Quentin Tarantino and the secret network announced a partnership aimed at releasing NFTs from the classic ’90s movie, the world listened. Unfortunately for them, Miramax did, too. The studio still held the rights to Pulp Fiction, so they sent a cease and desist letter.
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The caveat here is that “the unique value proposition from the secret network lies in the name; the NFTs will be “secret” and only accessible by the owner of the NFTs”. when NewsBTC has this covered The story, we explained:
“This fact makes the lawsuit endlessly interesting. Only the person who buys the NFT can see what’s inside, so Miramax has no idea what kind of content they’re suing. They only know they own the rights to the image and the deprecated material, but along with the reports and marketing materials They don’t know anything about the actual content just like us.”
What has happened since then? Much. Let’s explore new developments in the case.
– Tarantino NFTs (TarantinoNFTs) January 10 2022
Unreleased scenes and materials
Initially, the implication was that the NFTs would contain unpublished material from Pulp Fiction. Miramax entered the picture and everything changed. Once again, from a previous NewsBTC report:
On the day of the announcement, The Secret Network rextract a statement To quote the director himself.
“I am excited to present these exclusive scenes from PULP FICTION to fans.” Tarantino says. “The Secret Network and Secret NFTs provide a whole new world of connecting fans and artists, and I’m happy to be a part of that.”
Tarantino’s words refer to simpler times. We’re not even close to that point anymore.”
The content of Pulp Fiction NFTs has been changed
After the cease and desist letter, it turned out that Tarantino only retained the rights to the Pulp Fiction script. Recently, IndieWire quotes a statement That Proskauer Rose, one of Miramax’s attorneys, sent them:
“There has been no attempt to dismiss any of Miramax’s claims by Team Tarantino, nor have they filed any claims or counterclaims against Miramax, and since Miramax filed its lawsuit, the promotional website and Twitter account of the proposed sale has curtailed the unauthorized use of images from Miramax films ( including Pulp Fiction)”
And he is right. Unofficial visit to Tweet embed The Twitter account will reveal that the people involved in the sale have teased all images related to the Pulp Fiction and replaced them with high-contrast text or images of Quentin Tarantino himself. The content of NFTs has also changed now The secret network describes them as:
Tarantino holds the exclusive rights to publish the screenplay for Pulp Fiction, and the handwritten original has remained a personal creative treasure that he has kept private for decades. In collaboration with SCRT Laboratories, Tarantino has transformed chapters from this landmark document into a one-of-a-kind NFT publication. Each NFT in the set consists of one iconic scene, plus a custom audio commentary by Tarantino himself.”
Are they legal now? this is the question.
SCRT Market Cap, calculated by TradingView | Source: TradingView.com
Secret Network Proceeds
Auctions will run from January 17 to January 31. This will happen on the secret network and not on OpenSea, as was originally announced. Has OpenSea escaped controversy and potential litigation? We will not know. On the other hand, the secret network improves the situation to the extreme. Money can’t buy this kind of advertising.
Their press release quotes Jay Ziskind, founder and CEO of SCRT Labs:
“The Secret Network is proud to stand by Quentin. We are committed to working with talented artists around the world, by providing them with a better way to release their work directly to fans without relying on legacy distribution models, which favor conglomerates over creators.”
3 days to launch. Historical Fact #1:
Quentin Tarantino writes his screenplays by hand ✍️ For Pulp Fiction, he kept the original screenplay a secret for *28 years. *This priceless historical part will be revealed for the first time in next week’s auction – but only to the buyer 🤫 https://t.co/wXbIUPOXUO pic.twitter.com/msgwomNs27
– Tarantino NFTs (TarantinoNFTs) January 14, 2022
from their side , Miramax lawyers sent a letter to Zyskind which claims:
Contrary to what you assert that Mr. Tarantino and his team have told you,
You do not have the necessary rights to craft the Pulp Fiction NFTs shown in your press releases and other promotional materials;
You do not have the necessary rights to market or promote those NFTs; And
Although you are now in the role of auctioneer, you do not have the rights to promote and sell NFTs.”
Not only that, it included a direct threat to potential NFT buyers:
We hope that you will also inform potential buyers of the risks of purchasing unauthorized NFTs, including that buyers may have to return NFTs to Miramax and forfeit the price they paid for these NFTs, and that buyers may have additional liability in the event that they subsequently sell NFTs unauthorized”
Jay Zeskind’s response? He took to Twitter and replied:
“Your attempt to intimidate us and our community will not succeed. This legal sale of TarantinoNFTs will continue as planned, despite your efforts to sabotage it.”
hey Tweet embed. I got your message. Your attempt to intimidate us and our society will not work. This is a legitimate sale Tweet embed It will continue as planned, despite your efforts to sabotage it. https://t.co/1Qjkgfy8U1 pic.twitter.com/jpjbYDNmNp
— GuyZys (@GuyZys) January 10 2022
the Contributed by TarantinoNFTs . account To the conversation by saying: “We will not stop. We will not let bullies terrorize our society.”
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Is this enough? Or are they making a huge mistake? Is Miramax right? Or do they know they have no leg to stand on and thus turn into intimidation?
Play 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