Legendary film director Quentin Tarantino has attempted to get involved in cryptocurrency. The Once Upon A Time In Hollywood director planned on selling Pulp Fiction NFTs. However, that plan has been met with a massive setback.
Reported by CNN, Taratino's attempt to sell Pulp Fiction NFTs has met with backlash from Miramax. Since the launch of the cryptoart line, Miramax has started a lawsuit against the filmmaker to protect their rights to the film.
Miramax vs Pulp Fiction NFTs
Tarantino’s cryptoart line takes seven scenes from the 1994 cult classic movie and attempts to sell them. Customers of the non-fungible will then “own” those scenes alongside “excerpts from the original, handwritten script for the film as well as exclusive commentary from the writer/director.”
However, Miramax claims that the filmmaker “granted and assigned nearly all of his rights to 'Pulp Fiction'" to them in 1993. Therefore, Tarantino would not be able to sell ownership of key scenes without the permission of Miramax.
The lawsuit says:
“Upon learning of Tarantino's plan, Miramax sent him a cease-and-desist letter setting forth, in great detail, Tarantino's disregard of Miramax's broad rights to 'Pulp Fiction'". Wrongly claiming that his narrow Reserved Rights are sufficient, Tarantino remains undeterred and has refused to comply with Miramax's demands to cancel the sale of Pulp Fiction NFTs."
Miramax has its own plans
The production company’s lawsuit against Tarantino isn't just for copyright infringement. Miramax is also planning on releasing their own line of NFTs based on their film catalogue, including Pulp Fiction.
“This one-off effort devalues the NFT rights to Pulp Fiction, which Miramax intends to maximize through a strategic, comprehensive approach,” the lawsuit claims.
Additionally, Miramax is scared that Tarantino’s attempts to sell content he allegedly doesn't own will inspire other filmmakers. The lawsuit continues:
“[The sale could] mislead others into believing they have the rights to pursue similar deals or offerings, when in fact Miramax holds the rights needed to develop, market, and sell NFTs relating to its deep film library. This group chose to recklessly, greedily, and intentionally disregard the agreement that Quentin signed instead of following the clear legal and ethical approach of simply communicating with Miramax about his proposed ideas."