Miramax Studios is suing director Quentin Tarantino over his plan to issue a non-fungible token (NFT) based on his 1994 film. Pulp Fiction.
Tarantino announced NFT plans earlier this month, which plans to release seven NFTs based on the film, including scenes from the original script that were cut from the final film. NFT will also contain Pulp Fiction art and commentary from Tarantino himself. Miramax alleges that it sent a cease-and-desist letter to the director after the announcement to no avail. The studio announced that it was in discussions about creating a partnership with NFT based on its library of films, and that Tarantino’s deal devalues those efforts.
“Tarantino’s conduct has compelled Miramax to bring this action against a valued associate to enforce, maintain, and defend its intellectual and contractual property rights relating to one of its electronic assets. Miramax’s most valuable and iconic image,” the company wrote in the lawsuit. Left unchecked, Tarantino’s conduct could mislead others into believing that Miramax was involved in his business. And it may also mislead others into believing that they have the right to pursue similar transactions or services, when in reality, Miramax holds the necessary rights to develop, market and sell the related NFTs. to my deep movie library. “
The “Tarantino NFT Collection”, as it is being called, is being launched in partnership with SCRT Labs and Secret Network, companies that are trying to create a new type of NFT with embedded “secret” content. Inside. NS Pulp Fiction The NFT will have a publicly viewable section and confidential content (including previously unseen scripts) visible only to the owner.
According to a copy of Tarantino’s contract with Miramax for Pulp Fiction, the director retains a number of rights to the film, including “soundtrack albums, music publishing, live performances, print publications (including but not limited to, script publishing, ‘making’ books, comic books and novels, in both audio and electronic formats, where available), interactive media, theatrical and television remakes and sequels, and television series rights and superfilm. ”
Tarantino’s attorneys, according to a cease and desist letter from Miramax, argued that the director was acting within the scope of his “Rights Reserved,” specifically his right to “publish the script.” Ultimately, figuring out the limits of those reserved rights (including interactive media and script publishing) will be crucial, as the NFT isn’t something that studios or publishers can’t afford. filmmaking thought in 1993.
“This group chose to recklessly, greedily, and knowingly disregard the agreement Quentin signed instead of following the obvious legal and ethical approach of only communicating with Miramax about its proposed ideas. he. This one-time attempt devalues the NFT’s rights to Pulp Fiction, which Miramax intends to maximize through a holistic, strategic approach,” Proskauer Rose LLP partner Bart Williams, who represents Miramax, said in a statement. CHEAP. “Miramax will defend all of its rights to its library, including those relating to the NFT, and will not allow Quentin representatives to mislead others into believing that they have the right to conduct similar transactions. violate the rights agreements they have signed.”
NFT has become a hot commodity in Hollywood, with stars and studios all vying for the pie. ViacomCBS, Miramax’s controlling shareholder, recently announced an agreement with NFT company Recur to create NFTs based on its intellectual property, while Warner Bros. and Nifty’s are launching an NFT avatar project based on Matrix movie franchise.