In Brief:
- Quentin Tarantino announced the release of scenes from “Pulp Fiction” as NFTs.
- The sale is happening despite a lawsuit from the film’s producer, Miramax.
- Each NFT will be auctioned separately from January 17 through January 31, 2022.
- Buyers willing to be a part of the auction must register by January 10, 2022.
Quentin Tarantino, an Oscar winner and one of the most well-known filmmakers of all time, has revealed the dates for the NFT collection of fan favourites from his original script for “Pulp Fiction.” Each digital collectible will have a single classic scene from the film, as well as individually tailored audio commentary from the film’s producer.
The award-winning director announced the public auction for the seven non-fungible coins would take place from January 17 through January 31 in a news statement on Wednesday. Buyers willing to be a part of the auction must register by January 10, 2022. Each NFT will be sold on its own. To purchase one of the tokens, buyers must have a MetaMask wallet and ethereum or another cryptocurrency. Participants though will be able to use ETH and ERC-20-compatible stablecoins.
“I have the entire Pulp Fiction script written in my own hand, from page one to the last page,” Tarantino previously said. “It’s kind of just been sitting in a binder in my office on a filing cabinet and the only other person who’s ever seen it was the typist back in 1993.”
Secret Network, the first blockchain with privacy by default for smart contracts, can provide the NFTs containing this remarkable information. Secret Network NFTs employ cutting-edge data-privacy technology to ensure that only the NFT’s owners can decrypt its contents and, if desired, share them with others.
Guy Zyskind, founder and CEO of SCRT Labs, the principal contributor to Secret Network, said, “Secret Network is happy to stand with Quentin.” “We’re committed to collaborating with brilliant artists all around the world by giving them a better way to distribute their work directly to fans rather than depending on outdated distribution structures that favour conglomerates over creators.”
Miramax, the film studio that created the 1994 cult classic, filed a lawsuit in November 2021 after Tarantino announced the project, claiming intellectual property rights to the content. With NFT sales falling into an ambiguous region of the film’s distribution rights, the situation has been a complicated case study of applying Web 2 copyright regulations to Web 3 items.
Only the screenplay belongs to Tarantino, the film’s director. Despite the legal battles, Tarantino and his Secret Network associates have stated that the NFTs will be disseminated in seven “chapters.”