In the end, Quentin Tarantino’s “Pulp Fiction” NFT Collection collapsed under its own weight. Did Miramax’s legal representatives frighten them off? Or existed not adequate interest in the collection by the purchasers? Did the Secret Network have any technical problem that they’re not telling us about? Sadly, we can’t respond to those questions at the minute.
Something occurred, however. We will present the facts and nothing however the truths so that each one can come to their own conclusions. As a pointer, in the collection’s official website they now explain the pieces as, “Each NFT in the collection consists of the initial script from a single renowned scene, along with customized audio commentary from Quentin Tarantino himself.”
The Story So Far
This case is very made complex. It has a lot of ins, a great deal of outs, a great deal of what-have-yous. As soon as the news about Quentin Tarantino getting in the NFT area hit the press, Miramax took legal action against. The pieces were based upon the 1994 movie “Pulp Fiction,” and they owned the rights. There was an odd caveat to the whole story, which Bitcoinist discussed:
” The Secret Network is a Layer 1 personal privacy blockchain produced by SCRT Labs. The unique worth proposal from The Secret Network lies in the name; the NFTs will be “secret” and just accessible by the NFTs owner.”
” Just that fact makes the claim endlessly interesting. Only the person that buys the NFT can see what’s inside, so Miramax has no clue about the sort of material they’re suing for. They feel in one’s bones they own the rights to the picture and the discarded product, however, besides the reports and the marketing material, they’re as in the dark as the rest of us about the actual material.”
Regardless of Miramax attorneys working overtime, The Secret Network went all in. 2 days before the very first auction, they were talking David Vs. Goliath.
” The Secret Network, on the other hand, is milking the scenario to the extreme. Money can’t buy this kind of publicity.
Their press release prices estimate Guy Zyskind, founder and CEO of SCRT Labs:
” Secret Network is happy to stand with Quentin. We are dedicated to dealing with talented artists across the globe, by providing them a much better way to release their works directly to fans without depending on older distribution designs, which prefer corporations over creators.”
Tarantino NFTs’ First Sale
At first, everything appeared normal. The first piece, based upon the “Royale With Cheese” scene, sold for a massive $1.1 M. The collection’s tweet sold it as a big win. “And the winner of the ORIGINAL ‘‘ ROYALE WITH CHEESE’ SCREENPLAY NFT is AnonsNFT, who bid $1.1 M! We got a lot of excellent bids on the very first NFT in the collection, however Anons took the reward.”
And the winner of the ORIGINAL '' ROYALE WITH CHEESE' ' SCREENPLAY NFT is @AnonsNFT, who bid $1.1 M!
< img src= "https://s.w.org/images/core/emoji/13.1.0/72x72/1f973.png" alt="" class=" wp-smiley" design="height: 1em; max-height: 1em; "/ >< img src= "https://s.w.org/images/core/emoji/13.1.0/72x72/1f973.png" alt=" "class= "wp-smiley" design= "height: 1em; max-height: 1em; "/ > We got a lot of excellent bids on the very first NFT in the collection
, 'but Anons took the prize. The 2nd auction, ' Pumpkin and Honey Bunny ' is now live @ https://t.co/O1fmcrN4Rm pic.twitter.com/8U44PHQ6HP
—– Tarantino NFTs (@TarantinoNFTs) January 24, 2022
However, looking into AnonsNFT, the DAO specifies itself as “1st @SecretNetwork PFP Collection.” So, is the company associated to the Secret Network in any way? That would put a dent in the “whopping $1.1 M” story.
SCRT price chart on Huobi|Source: SCRT/USDT on TradingView.com
The Nuclear Option: Cancel The Whole Thing
A couple of days later on, the Secret Network utilized the most fake reason to cancel the entire thing. Volatility. With a straight face, they blamed all of it on volatility.
” AN IMPORTANT UPDATE FOR OUR COMMUNITY: In light of extreme market volatility, we’ve decided to postpone the remainder of the auction to put the requirements of our neighborhood initially. We know that these unique collector’s products will be valuable for generations to come. Rather of contributing to the volatility, we will wait on the best market conditions to make sure the integrity and fair market value for our neighborhood and developers.”
We understand that these exclusive collector’s items will be valuable for generations to come. Rather of contributing to the volatility, we will await the ideal market conditions to ensure the stability and fair market value for our neighborhood and developers.
—– Tarantino NFTs (@TarantinoNFTs) January 28, 2022
Why did they do that? No one understands for sure. But the cover story is terrible, volatility? Actually? Miramax didn’t take credit for the kill. And the Secret Network did not confess to low interest in the series or to technical troubles. They just closed down the entire operation.
Was Plagiarism A Factor? Did Tarantino Know About This?
This case was plagued with copyright problems. And, to add insult to injury, the Andrew Cremeans story just comes out of no place. “It has actually been given my attention that Quentin Tarantino has actually been using my art without authorization to sell his Pulp Fiction NFTs,” Cremeans stated in a tweet.
It has actually been given my attention that Quentin Tarantino has actually been utilizing my art without authorization to offer his Pulp Fiction NFTs. Please see below. #nft #nfts #pulpfiction #tarantino #quentintarantino #jules #vincent #ripoff #art #artist #graphicdesign pic.twitter.com/MuTxRi9o2p
—– Andrew Cremeans (@Andrew_Cremeans) January 24, 2022
In a case as complex as this, it’s tough to believe that the operation collapsed due to the fact that of an illustrator’s copyrights claims. The art is plainly his, however. And Cremeans complaint needed to be brought to the front. Before dropping this story permanently.
This appears to be it for the Tarantino “Pulp Fiction” NFT collection, the saga’s last chapter. It’s a shame that it leaves an open ending such as this, without any definitive responses.
Featured Image: Tarantino NFTs marketing image from this tweet|Charts by TradingView