Quentin Tarantino has reached an agreement with Miramax to resolve his NFT case

Quentin Tarantino has reached an agreement with Miramax to resolve his NFT case

Quentin Tarantino and Miramax have resolved a dispute concerning non-fungible tokens, or NFTs, based on the film Pulp Fiction. According to a recent court filing, the parties intend to file a motion to dismiss the lawsuit in the coming weeks, and they have issued a joint statement. “The parties have decided to put this situation behind them and look forward to working on future initiatives, including potential NFTs,” they said. The settlement details were not revealed.

At the height of NFT frenzy last year, Tarantino revealed his NFT lineup, promising that each one would reveal a “secret” about his 1994 picture. Tarantino claimed that the NFTs were related to material from the script, to which he held rights, while Miramax sued, claiming that NFTs represented an “emerging technology” from which it could benefit legally. “Whatever limited rights Mr. Tarantino has to screenplay publication, they do not permit the minting of unique NFTs associated with Miramax’s intellectual property,” the company’s attorneys wrote in January when the first NFT sold for $1.1 million to a collective affiliated with its sales network Secret.

If the case had gone through, it may have established a precedent for future NFTs based on films or other media. Warner Bros. and other studios have sold NFTs to advertise films such as Space Jam: A New Legacy and The Matrix Resurrections, and the Miramax case might have determined whether these selling rights are covered under existing trademark and copyright contracts that do not specifically include NFTs.

Last week, Tarantino and Miramax met to consider a settlement, and the matter now seems unlikely to go to trial. Meanwhile, the NFT and cryptocurrency markets have plummeted since the lawsuit was filed, so if additional tokens are issued in the near future, the stakes are unlikely to be nearly as high.

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