Will Tarantino Be Able To Sell The Pulp Fiction NFTs? Or Will Miramax Prevail?

Will Tarantino Be Able To Sell The Pulp Fiction NFTs? Or Will Miramax Prevail?

In two days, the auction of the first Pulp Fiction NFT will take place. A historical moment for the nascent industry, one that will set precedent for years to come. When Quentin Tarantino and the Secret Network announced a partnership aimed at releasing NFTs from the classic ’90s film, the world listened. Unfortunately for them, so did Miramax. The studio still holds the right to Pulp Fiction, so they sent a cease and desist letter. 


Related Reading | Upside Potential in NFTs is Massive Says Gary Vaynerchuk


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 NFTs owner.” When NewsBTC covered this story, we explained: 


“That fact makes the lawsuit endlessly interesting. Only the person that buys the NFT can see what’s inside, so Miramax has no clue about the kind of content they’re suing for. They just know they own the rights to the picture and the discarded material, but, besides the reports and the marketing material, they’re as in the dark as the rest of us about the actual content.”


What has happened since then? A LOT. Let’s explore the new developments in the case.


Unreleased Scenes And Material


In the beginning, the implication was that the NFTs would contain unreleased material from Pulp Fiction. Miramax entered the picture and everything changed. Again, from NewsBTC’s previous report:


“On the day of the announcement, The Secret Network released a statement that quotes the director himself.


“I’m excited to be presenting these exclusive scenes from PULP FICTION to fans.” Tarantino says. “Secret Network and Secret NFTs provide a whole new world of connecting fans and artists and I’m thrilled to be a part of that.”


Tarantino’s words suggest simpler times. We’re nowhere near that stage anymore.”


The Content Of The Pulp Fiction NFTs Changed


After the cease and desist letter, it transpired that Tarantino only kept the rights to Pulp Fiction’s script. Recently, IndieWire quoted a statement that Proskauer Rose, one of Miramax’s lawyers, sent them: 


“There’s been no attempt to dismiss any of Miramax’s claims by Tarantino’s team, nor have they filed any counter claims or motions against Miramax, and since Miramax filed its lawsuit, the promotional website and Twitter account for the proposed sale have scaled back the unauthorized use of imagery from Miramax films (including Pulp Fiction)” 


And he’s right about that. A casual visit to the @TarantinoNFTs Twitter account will reveal that the people involved in the sale fazed out all images related to Pulp Fiction and replaced them with just text or high contrast images of Quentin Tarantino himself. The content of the NFTs also changed, now The Secret Network describes them as: 


“Tarantino owns the exclusive rights to publish his Pulp Fiction screenplay and the original, handwritten copy has remained a personal creative treasure he has kept private for decades. In collaboration with SCRT Labs, Tarantino has turned chapters from this historic document into a one-of-a-kind NFT publication. Each NFT in the collection consists of a single iconic scene, as well as personalized audio commentary by Tarantino himself.”


Are they legal now? That’s the question.


SCRT Market Cap - TradingView


SCRT Market Cap, calculated by TradingView | Source: TradingView.com

The Secret Network Proceeds


The auctions will go from January 17th to the 31st. It will happen on the Secret Network and not on OpenSea, as originally announced. Did OpenSea run away from the controversy and possible litigation? We wouldn’t know. The Secret Network, on the other hand, is milking the situation to the extreme. Money can’t buy this kind of publicity.


Their press release quotes Guy Zyskind, founder and CEO of SCRT Labs:


“Secret Network is proud to stand with Quentin. We are committed to working with talented artists across the globe, by providing them a better way to release their works directly to fans without relying on older distribution models, which favor conglomerates over creators.”