In the world of blockchain, “non-fungible tokens” or NFTs have taken over as collectibles from other digital assets. With this rise in popularity comes a new way to monetize these items through selling on secondary markets and virtual auctions.
Quentin Tarantino’s “Pulp Fiction” is the first film to be released in digital form on the blockchain. It sold for $1.1 million at an auction held by Heritage Auctions, making it the most expensive movie ever sold.
The first of seven ‘Pulp Fiction’ NFTs by Quentin Tarantino has sold for a stunning $1.1 million. The sale defies the creators of the cult film ‘Miramax,’ who are attempting to halt the sale due to a disagreement over intellectual property rights.
The ‘Tarantino NFTs’ NFT collection has seven original, handwritten scripts from the 1994 film, all of which are available as mintable, one-of-a-kind NFTs. The rare texts also come with audio commentary from Tarantino himself, who talks listeners through the scene’s importance while also discovering hidden tales, thanks to a cooperation with SCRT Labs.
The legendary conversational vehicle scene from ‘Royale with Cheese,’ starring John Travolta and Samuel L. Jackson, was the first scene from the collection to be auctioned as an NFT, with the happy purchasers being crypto collective AnonDAO.
The remaining six NFTs will be auctioned between January 24th and January 31st on the ‘Tarantino NFTs’ website, with each auction lasting 24 hours (or until their goal price is met). ‘Pumpkin and Honey Bunny,’ ‘Foot Massage,’ ‘Check Out the Big Brain on Brett,’ ‘Captain Koons Monologue – The Gold Watch,’ ‘Bring Out the Gimp,’ and ‘Last Scene: Coffee Shop – Ezekiel 25:17’ are the remaining NFTs.
However, the euphoria around the collection may be short-lived, since Miramax is working hard to end the NFT collection’s eligibility. “Whatever restricted rights Mr. Tarantino has to script publishing, they do not authorize the minting of unique NFTs linked with Miramax’s intellectual property, and his opposite stance is the subject of a current litigation,” according to the film studio’s attorneys.
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