Filmmaker Quentin Tarantino and Studio Miramax Settle a Lawsuit Based on Non-Fungible Tokens, or NFTs Pulp Fiction. A new court filing indicates that the parties will request that the lawsuit be dismissed in the coming weeks, and they reportedly issued a joint statement. Deadline. “The parties have agreed to put this matter behind them and look forward to collaborating on future projects, including possible NFTs,” they said. Terms of the settlement were not disclosed.
Tarantino introduced his NFT lineup last year at the height of NFT mania, promising that each one would unlock a “secret” about his 1994 film. Tarantino said the NFTs were tied to media from the screenplay, which he owns the rights to, but Miramax noted that the NFTs constituted an “evolving technology” that could contractually profit from it. “While Mr. Tarantino may have limited rights to the publication of the screenplay, they do not permit the printing of exclusive NFTs of Miramax’s intellectual property,” company lawyers wrote in January, after the first NFT was sold to a consortium tied to its sales for $1.1 million. Network secret.
Had it continued, the case would have been a precedent for future NFTs based on movies or other media. Warner Bros. and other studios sold NFTs to promote films such as Space Jam: A New Legacy And The Matrix ResurrectionsAnd the Miramax case may have settled whether these sales rights were guaranteed by existing trademark and copyright agreements.
But like Torrent Freak Notes, Tarantino and Miramax met last week to discuss a settlement, and the case is now unlikely to go to trial. Meanwhile, the NFT and cryptocurrency markets have cratered since the lawsuit was filed — so it’s doubtful the stakes will be nearly as high if more tokens are released in the near future.