The collection will be released in mid-January and will be auctioned on a custom Tarantino online marketplace. The director’s partner said they have the upper hand in the legal battle.
The acclaimed film director, Quentin Tarantino, has decided to go ahead with the auction of his collection of tokens Non-Fungible Film (NFT) despite legal challenges stemming from a lawsuit by film production company Miramax .
In November of last year, Tarantino caught the attention of the media when he announced an NFT project based on his successful feature film ‘ Pulp Fiction which brought him to fame in 1994 and has now become a cult film. The collectible series would be comprised of previously unreleased footage from the film, including handwritten scripts and exclusive commentary from Tarantino.
However, the project encountered some obstacles when the entertainment company Miramax which produced Pulp Fiction and many other Tarantino films, sued the director for copyright infringement . The complaint alleges that the director “ mantua secretly their plans for Pulp Fiction Miramax NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. “and had ignored a cease and desist with respect to the sale of NFT.
The lawyer for Miramax Bart Williams, noted in a letter published in November:
This group chose to recklessly, greedily and intentionally ignore the agreement Quentin signed instead of following the clear legal and ethical approach of simply communicating with Miramax about their proposed ideas. This one-time effort devalues NFT’s rights to ‘ Pulp Fiction which Miramax aims to maximize through a strategic and comprehensive approach.
NFT Collection of Pulp Fiction will be released this January
However, it seems that the lawsuit hasn’t slowed Tarantino down. SCRT Labs the lead developer behind the Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. privacy-focused Secret Network a network refers to all nodes in the operation of a blockchain at any given moment in time. and Tarantino’s partner on the project, announced this week that he plans to go ahead with the plans.
As reported by several news outlets, Tarantino and his business partner SCRT Labs planean auction an auction is a public sale through a bidding process where an asset is sold to the highest bidder. six chapters of the tokenized screenplay from Pulp Fiction between 17 and 31 January . The NFTs in the collection will reflect a single scene from one of the seven chapters of the original manuscript, as well as audio commentary by the director.
???????????? The Secret’s Out! #TarantinoNFTs are officially coming this January!
We’ve got details on how and when to buy, plus exciting news on new projects in the works. Join @SecretNetwork and make history with your very own Tarantino #PulpFiction #NFT !: https://t.co/MByhu92Ipr
— Tarantino NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). (@TarantinoNFTs) January 5, 2022
Those interested in participating in the auction must pre-register in order to purchase an NFT. Registration for the auction begins January 10. The team has created a custom auction house in the Tarantino NFT website to carry out the sale.
Tarantino Collection NFTs are based on the blockchain Ethereum a decentralized open-source blockchain with smart contracts functionality. and users must have stable coins compatible with ETH or ETC-20 to purchase the collectibles. As of press time, the team has not provided details on the launch prices that each of the NFTs will have.
Initially, the auction would be held on the popular NFT market, OpenSea . However, plans have changed as a result of delays caused by demand, according to Guy Zyskind, founder and chief executive officer of SCRT Labs , a Decrypt. Él assured that the new market an area or arena, online or offline, in which commercial dealings are conducted. will provide “ a much better experience “that the launch through OpenSea .
Tarantino and partner have the legal advantage
The news comes a month and a half after the Miramax filed the lawsuit, which claims that Tarantino has no right to create and sell digital digital technologies are these electronic tools that have the ability to generate, store or even process data. collectibles based on the film, which the studio originally distributed.
The executive director of SCRT Labs indicated to Decrypt that the project has been ” slower and more carefully “However, he assured that they will not wait for the conclusion of the legal process to carry out the launch. Overall, he was confident that they and the director have the upper hand. Zyskind assured that the partners have ” not only the morally higher ground, but also the higher legal ground ” in the dispute.
Contractually, everything is related to the script. The script a computer script is a list of commands that are executed by a certain program or scripting language. itself, which is the purest initial form of its creation and doesn’t really touch the production itself. Our lawyers and his lawyers have explained to us that all [the legal agreements] specify very clearly that he retained the rights to everything related to the script itself.
“ It is clear to us that we are right, and we simply see no reason to wait. “ Zyskind added. It is not clear whether the company expects further legal action from Miramax after the auction.
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Article versioned by Hannah Estefania Perez / DiarioBitcoin
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