Tarantino and Miramax Bury NFT Hatchet

Legendary film director Quentin Tarantino and Miramax have settled their long-running NFT lawsuit, a court filing on Friday showed, CoinDesk wrote.

The lawsuit was filed last November, when the director announced plans to release NFTs using scenes from 1994’s Pulp Fiction. Miramax claimed it had ownership of the redistribution rights to the film.

In a joint statement, Miramax and the director said:The parties have agreed to put this matter behind them and look forward to collaborating with each other on future projects, including possible NFTs.

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Neither party disclosed the exact terms of the deal. The first NFT from Tarantino’s collection was auctioned off for more than $1 million in January.

Classic example

Many saw the dispute as a typical example of pre-Web3 copyright laws being applied in Web3 conditions. Tarantino’s attorneys claimed that NFTs were not in the scope of restricted redistribution mediums because they didn’t exist when Pulp Fiction was released.

Tarantino’s NFTs are based on the Secret Network. This ecosystem’s main selling point is the capacity to hold “secret” files containing media that only holders can view. The lawsuit centered on the mechanics of the NFTs as Miramax did not know what protected content was actually being distributed.

Source: Bankless Times