- Filmmaker Quentin Tarantino and Miramax studio have reached a settlement over the release of NFT collectibles based on Pulp Fiction.
- Both parties have revealingly settled and agreed to settle the case while hinting towards chances of collaborating on more NFTs in the future.
- The dismissal documents following the settlement of the case are expected to be filed within two weeks.
In a recent revelation, it has come to notice that Filmmaker Quentin Tarantino and Miramax movie studio have settled with the release of NFT collectibles that were based on Tarantino’s film Pulp Fiction. This has concluded a polemical legal battle over the Pulp Fiction NFTs on Secret Network.
On Thursday, the lawyers for Miramax movie studio filed a brief court statement addressing their plans to withdraw their case in opposition to Tarantino and SCRT Labs. In January, Miramax released the first of the planned Pulp Fiction NFTs on Secret Network. It should be noted that SCRT Labs is the primary benefactor to Secret Network and represents the network’s founders.
As the court filing read, “The parties have settled this case and expect to file their dismissal papers within two weeks.” In a joint statement released by one of the representatives of Miramax, it was revealed that the parties have agreed to put the matter in the past and keep an eye on further collaborations for future projects involving possible NFTs.
Last November, Tarantino and SCRT Labs made headlines after announcing that they plan to release NFTs based on the original script for Pulp Fiction by Quentin Tarantino. Additionally, it was announced that the NFTs would utilize the privacy-centric Secret NFTs technology to embed exclusive material from Tarantino’s script only to be viewed by NFT holders.
The lawsuit was filed against the crypto startup and Tarantino by Miramax as they were the distributors of Pulp Fiction in 1994 and alleged that they do not have the rights to create NFTs associated with the film.
However, in counter to the allegations made, Quentin Tarantino’s camp claimed that the original distribution agreement with the movie studio Miramax involved reserved rights for him to facilitate the reproduction of the script, and hence, the creation of NFTs was a modern extension of those rights.
Well, irrespective of the legal quarrel, Tarantino and SCRT Labs went on to auction the first NFT in January and sold it for $1.1 million. It was purchased by AnonsDAO, a Decentralized Autonomous Organization based on Secret Network.