Miramax's lawsuit against Quentin Tarantino over Pulp Fiction NFTs has been settled
In November of last year, Miramax sued the director after the base-layer blockchain provider Secret Network said that "uncut screenplay scenes" from the 1994 movie would be sold as NFTs. The movie studio said it owned all of "Pulp Fiction's" rights, except for the ones that were reserved for Tarantino, which didn't include nonfungible tokens.
At the time, the company was making its own NFT plan. In a statement, the studio's lawyer, Bart Williams, said, "This one-time effort lowers the value of the NFT rights to "Pulp Fiction," which Miramax plans to make the most of by taking a strategic, all-around approach."
On the original press release for the auction, Secret Network said that Tarantino had "exclusive rights to publish his Pulp Fiction screenplay, and the original, handwritten copy has remained a personal creative treasure that he has kept private for decades." The auction raised $1.1 million in January, but more NFT sales were canceled because of the dispute.
Miramax and Tarantino have worked together on other successful movies, such as "Kill Bill: Volumes 1 and 2." Since it came out in 1994, "Pulp Fiction" has made a total of $213 million around the world and $107.93 million in the United States.
After months of fighting in court, Quentin Tarantino and Miramax seem to have settled their lawsuit over nonfungible tokens (NFTs) related to the blockbuster movie Pulp Fiction. It is said that the movie studio plans to drop its lawsuit against the director within two weeks and work with him in the future, including on NFTs projects.