Miramax Sues Tarantino Over NFT Auction of "Pulp Fiction" Items
You have probably heard a lot about NFTs lately, but what are they indeed? Non-fungible token many might answer, but this still doesn’t make you understand what they represent. Fungible items have no difference between them, think of a bitcoin for example. One is worth the same with every other, sold and traded for its worth. Things that follow this rule are fungible. Blockchains now don’t just form the bedrock for cryptocurrencies like bitcoin, they can be used to register ownership of a digital product with a high value serving as a digital certificate proof of ownership. Having said that, just recently, Quentin Tarantino announced at a crypto convention that he is planning to sell 7 previously unknown uncut scenes from his masterpiece “Pulp Fiction” as NTFs which will be viewed only by their owner. Miramax in the other side, claims to be the owner of all IP rights related to the movie so they just filed a lawsuit in the U.S. District Court of California accusing of IP infringement and contract breach. Tarantino’s attorney just few days before responded to this lawsuit by arguing that the contract already gives the right to the author to sell NFTs from his handwritten script.