As far as filmmaking icons go, you’d be hard pressed to find one more stylized and well-known as Quentin Tarantino. The Reservoir DogsThe face of the magazine has been both writer and director. Over the last several decades, many cult classicsOne of them is His “best”The most famous filmsIt is the heart of A lawsuit against the loved director. Apparently the legal battle, which erupted after Tarantino announced he’d be selling NFTs of his hand written Pulp FictionMiramax sent a statement to the broker regarding scripts and other content for film.
Quentin Tarantino wrote and directed both films, Pulp FictionMiramax, the company that distributed the film and still owns the intellectual property, is strongly associated with the film. In a letter sent by Miramax’s council (via Deadline), the plaintiff’s argument as to why Tarantino does not have the right to sell the Pulp FictionThe following is a list of NFTs which will be up for auction next week. Here’s what was said:
Whatever limited rights Mr. Tarantino has to screenplay publication, they do not permit the minting of unique NFTs associated with Miramax’s intellectual property, and his contrary position is the subject of a pending lawsuit. What your press release calls Mr. Tarantino’s ‘never-before-seen handwritten screenplay’It is not yet possible ‘iconic; or a ‘fan favorite,’ so it is transparent that you and Mr. Tarantino are trying to capitalize on Miramax’s content, intellectual property rights, and brand.
With the growing success of Bitcoin, digital assets are becoming more common. NFTs have been introduced. However, they are still relatively new and the rights to them are somewhat blurred. They weren’t even considered back in the past. Pulp FictionThey were released originally in 1994 so they wouldn’t have been subject to any contract.
Even so, the letter was sent to SCRT who had planned to go forward with Tarantino’s NFT sale despite the ongoing lawsuit between the director and Miramax, and it seems to outline some possible consequences for the broker. The letter suggests that SCRT could be required to hand over any NFT sales proceeds to Miramax, and that purchasers could have to forfeit the goods they won at the auction. This is how they describe it:
If you do decide to proceed with the auction (like Mr. Tarantino), please note that you do so at your own risk. You may also owe Miramax the proceeds from any future sales, as well as other possible damages. We ask that potential purchasers be informed about the possible risks associated with purchasing these unauthorized NFTs. This includes the possibility that they will have to return them to Miramax, forfeit their purchase price, and that they may also face additional liability if they sell the NFTs.
Now this is, of course, all dependent on the lawsuit’s result, and Miramax’s lawyers seem to be just laying out what could happen if the lawsuit goes their way. SCRT will likely agree to Quentin Tarantino’s representation if the deal is approved. Miramax is mistaken and has full rights to sell NFTs for his handwritten content.
Quentin Tarantino’s Pulp Fiction NFTs sale is still ongoing and will begin on January 17th. Tarantino has announced that he will be retiring from filmmaking soon. he’s serious about his retirementIt is the perfect opportunity for his fans to make investments in digital memorabilia. If you do plan on taking part in what will most likely be a pretty pricey auction, just know that Miramax is making it clear it’s not a risk-free auction for any party.