Two days from now, the Pulp Fiction NFT auction will be held. It is an historic day for this industry and will become a model for others for years. The entire world heard the announcement by Quentin Tarantino of Secret Network that they were partnering to release NFTs from the 1990s movie. Miramax was also unhappy for them. They sent an cease-and-desist letter to the studio, which still retains rights to Pulp Fiction.
Similar Reading: Gary Vaynerchuk says NFTs have huge upside potential| 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 This was covered by NewsBTCStory, which we explain:
“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.”
Was there anything that has changed since then? There has been so much. Let’s explore the new developments in the case.
— Tarantino NFTs (@TarantinoNFTs) January 10, 2022
Unreleased scenes and material
The idea was from the start that NFTs would include unreleased Pulp Fiction material. Miramax came into the picture, and all that was changed. Again, from NewsBTC’s previous report:
“On the day of the announcement, The Secret Network rYou have a statementThis is the director’s quote.
“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.”
Pulp Fiction: NFTs – Content Changed
After the cease and desist letter, it transpired that Tarantino only kept the rights to Pulp Fiction’s script. Recently, IndieWire quotes 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. An informal visit to the @TarantinoNFTsThe Twitter account will show that all images related Pulp Fiction were removed and replaced with textual or high-contrast images by Quentin Tarantino. Now, you can see that the NFTs’ content has also been modified. They are described in The Secret Network 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. Tarantino collaborated with SCRT Labs to transform chapters of this document into a unique NFT publication. Each NFT in the collection consists of a single iconic scene, as well as personalized audio commentary by Tarantino himself.”
Is it legal? That’s the question.
SCRT Market Cap Calculated by TradingView. Source : TradingView.com| Source: TradingView.com
The Secret Network Continues
Auctions will be held from the 17th through 31st of January. This auction will be held on the Secret Network rather than OpenSea. OpenSea escaped the litigation and controversy? We wouldn’t know. On the other side, The Secret Network is taking advantage of the situation.
In their press release, Guy Zyskind is quoted as the 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.”
There are still 3 more days. Historical fact # 1:
Quentin Tarantino writes his screenplays by hand ✍️ For Pulp Fiction, he kept the original screenplay a secret for *28 years.* This priceless piece of history will be revealed for the first time in next week’s auction – but only to the buyer 🤫 https://t.co/wXbIUPOXUO pic.twitter.com/msgwomNs27
— Tarantino NFTs (@TarantinoNFTs) January 14, 2022
Their part: Miramax’s lawyers sent him a letterThat is what it claims
“Contrary to what you assert you are being told by Mr. Tarantino and his team,
The rights necessary to make the Pulp Fiction NFTs as described in press releases or other promotional material are not yours.
These NFTs aren’t available to you.
Despite your now having assumed the role of auctioneer, you do not have the necessary rights to promote and sell those NFTs.”
These threats were not only direct to NFT buyers, but also included an indirect threat.
“We would hope that you also inform prospective purchasers of the risks of purchasing these unauthorized NFTs, including that purchasers may have to return the NFTs to Miramax and forfeit the price they paid for such NFTs, and that purchasers may incur additional liability in the event they later sell the unauthorized NFTs”
Guy Zyskind Response? He replied to Twitter with:
“Your attempt to bully and intimidate us, and our community, will not work. This lawful sale of TarantinoNFTs will continue as planned, despite your efforts to sabotage it.”
Hey @Miramax. Got your letter. You will fail to attempt to intimidate or bully our community. This is a legal sale @TarantinoNFTs will continue as planned, despite your efforts to sabotage it.https://t.co/1Qjkgfy8U1 pic.twitter.com/jpjbYDNmNp
— Guy Zy𝕊kind (@GuyZys) January 10, 2022
It TarantinoNFTs account contributed to the conversation by saying, “We will not be stopped. We will not let bullies intimidate our community.”
Related Reading| January Proves Turbulent For Investors But NFT And GameFi Seems To Be Eating Good
Are they doing enough? Is that enough? Miramax is in the right Oder do they realize they don’t have a leg and are intimidated?
Turn on to NewsBTC next month for the next chapter of the Pulp Fiction NFTs’ exciting saga.
Tarantino NFT collection Featured imageCharts by TradingViewpromotional material | Charts by TradingView