Film director Quentin Tarantino reached an agreement with the Miramax studio to unlock the possibility of commercializing NFTs from pulp fiction.
The film studio accused the director of using copyrighted materials, including the script, without owning all the rights.
These NFTs would unlock Tarantino’s exclusive handwritten scripts and custom commentary, assets many fans would like to get their hands on.
In a demand filed in federal court in California last November, the film company accused the director of trying to cash in on something to which it does not own all rights.
Eager to cash in on the non-fungible token (‘NFT’) boom, as widely reported in the media, Quentin Tarantino recently announced plans to auction off seven ‘exclusive scenes’ from the 1994 film Pulp Fiction in the form of NFTs. , reads the complaint.
In June, Tarantino’s legal team asked the court to dismiss the case. This request was actively fought by Miramax. Behind the scenes, however, both sides also tried to reach an agreement.
Last week, Tarantino and Miramax met for a full-day settlement discussion, led by mediation firm Signature Resolution. Although some progress was made, both parties informed the court that the case had not been resolved.
A week later, the film director and the film studio have reached an agreement. A few hours ago, they filed an official notice of settlement in California federal court.
“The parties have resolved this case and expect to file their termination papers within two weeks,” their settlement notice says.
“The parties have agreed to put this matter behind them and look forward to collaborating with each other on future projects, including potential NFTs,” comment Tarantino and Miramax.
With the settlement, the legal battle is effectively over. The Tarantino NFT official website remains online at the time of writing this article.