In the end, Quentin Tarantino ’s “Pulp Fiction” NFT Collection collapsed under its own weight. Did Miramax’s lawyers scare them off? Was there insufficient interest from buyers to purchase the collection? Did the Secret Network have any technical problem that they’re not telling us about? Sadly, we can’t answer those questions at the moment.
But, there was something. Each person can come to their own conclusions. We’ll present only the facts. We remind you that we are unable to provide any guarantees. the collection’s official site they now describe the pieces as, “Each NFT in the collection consists of the original script from a single iconic scene, as well as personalized audio commentary from Quentin Tarantino himself.”
So Far: The Story
It is a complex case. This case has many details. Miramax was sued as soon after the announcement about Quentin Tarantino joining the NFT Space. The pieces were based on the 1994 movie “Pulp Fiction,” and they owned the rights. A strange caveat was placed on the entire story. This is what Bitcoinist explained:
“The Secret Network is a Layer 1 privacy blockchain created by SCRT Labs. The unique value proposition from The Secret Network lies in the name; the NFTs will be “secret” and only accessible by the NFTs owner.”
“Just 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.”
Miramax attorneys work overtime. The Secret Network was all in. Just two days before the first auction they had been discussing David Vs. Goliath.
“The Secret Network, on the other hand, is milking the situation to the extreme. Money can’t buy this kind of publicity.
In their press release, Guy Zyskind is quoted as the founder and CEO at 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.”
Tarantino NFTs’ First Sale
It seemed like everything was going as planned. The first piece, based on the “Royale With Cheese” scene, sold for a whopping $1.1M. The collection’s tweet sold it as a big win. “And the winner of the ORIGINAL ‘ROYALE WITH CHEESE’ SCREENPLAY NFT is AnonsNFT, who bid $1.1M! We received a lot of great bids on the first NFT in the collection, but Anons took the prize.”
The winner of the ORIGINAL ROYALE WITH CHEESE’ SCREENPLAYNFT is @AnonsNFTHe offered $1.1M to! 🥳🥳
There were many great offers for the NFT 1, but Anons won the auction.
The 2nd auction, ‘Pumpkin and Honey Bunny’ is now live @ https://t.co/O1fmcrN4Rm pic.twitter.com/8U44PHQ6HP
— Tarantino NFTs (@TarantinoNFTs) January 24, 2022
However, looking into AnonsNFT, the DAO defines itself as “1st @SecretNetwork PFP Collection.” So, is the organization related to the Secret Network in any way? That would put a dent in the “whopping $1.1M” story.
Price chart for SCRT on Huobi | Source: SCRT/USDT on TradingView.com
Nuclear Option: Cancel the Whole Thing
The Secret Network cancelled the entire thing just a few days later using the most ridiculous excuse. Volatility. The pair blamed everything on volatility, with straight faces.
“AN IMPORTANT UPDATE FOR OUR COMMUNITY: In light of extreme market volatility, we’ve decided to postpone the remainder of the auction to put the needs of our community first.
We know that these exclusive collector’s items will be valuable for generations to come. We will not add volatility to market instability. Instead, we will wait until the market is right to protect the integrity of our creators and ensure fair market value.”
We know that these exclusive collector’s items will be valuable for generations to come. Instead of adding to the volatility, we will wait for the right market conditions to ensure the integrity and fair market value for our community and creators.
— Tarantino NFTs (@TarantinoNFTs) January 28, 2022
What is the reason they did that? It is impossible to know. However, the headline story is terrible. Really? Miramax didn’t take credit for the kill. Secret Network also denied that there was low interest in this series, or any technical difficulties. The entire operation was shut down.
Was Plagiarism A Factor? Was Tarantino aware of this?
Copyright problems plague this story. The story by Andrew Cremeans just happened out of nowhere, adding insult to injury. “It has been brought to my attention that Quentin Tarantino has been using my art without permission to sell his Pulp Fiction NFTs,” Cremeans said in a tweet.
Quentin Tarantino used my artwork without my permission in order to sell his Pulp Fiction Non-Film TFTs. Below is a list. #nft #nfts #pulpfiction #tarantino #quentintarantino #jules #vincent #ripoff #art #artist #graphicdesign pic.twitter.com/MuTxRi9o2p
— Andrew Cremeans (@Andrew_Cremeans) January 24, 2022
In a case as complex as this, it’s hard to believe that the operation collapsed because of an illustrator’s copyrights claims. However, the art was clearly his. Cremeans complained had to be raised.
Then, you can forget about this story for good. This seems to be it for the Tarantino “Pulp Fiction” NFT collection, the saga’s last chapter. It’s a shame that it leaves an open ending such as this, with no definitive answers.
Tarantino NFTs promotion image Charts by TradingViewfrom this tweet | Charts by TradingView