Maybe there were NFTs in the suitcase all along.
If you haven’t been keeping up with the news on No Film School, Quentin Tarantino has been trying to sell non-fungible tokens of his Pulp Fiction screenplay. Everything was going according to plan until Miramax stepped in and said he couldn’t do that because they owned it.
That’s where a very interesting legal battle began. The question at the center was, who owned the images of the screenplay? Miramax’s lawyers claimed they owned the “broad rights” to offer NFTs based on the script. Tarantino’s legal team argued that the original deal he signed gave him the right to “publish” his screenplay, so he should also be allowed to publish NFTs on the blockchain.
This case is super important because its ripple effects will set a precedent across Hollywood. And if writers don’t own scripts, and studios can make a profit on them, there’s a lot more money to be made, which won’t be benefitting the creators. Unless that’s previously agreed upon.
And yes, it is a lot of money. The first Tarantino NFT sold for over a million dollars a few weeks ago.
Author: Jason Hellerman
This article comes from No Film School and can be read on the original site.
