NFTs, or non-fungible tokens, have become a popular way for artists to monetize and promote their work.
Movie studio Miramax has sued “Pulp Fiction” director Quentin Tarantino over his plan to auction off NFTs, or non-fungible tokens, related to the groundbreaking 1994 film.
Miramax, which released “Pulp Fiction,” on Tuesday accused Tarantino of breach of contract, copyright infringement and trademark infringement, saying he doesn’t have permission to sell the NFTs.Miramax, owned by Qatar-based BeIn Media and ViacomCBS, said in a complaint filed in U.S. District Court in Los Angeles that the company had sent Tarantino a cease-and-desist letter after learning of the NFT plans, but Tarantino refused to comply with its demands.
Miramax also released Tarantino films including “Jackie Brown” and the two “Kill Bill” movies. Miramax was then run by Harvey and Bob Weinstein, who later continued their relationship with Tarantino at the Weinstein Co. “Pulp Fiction” remains one of the most prized pieces of Miramax’s film library. NFTs are essentially certificates of authenticity for objects, such as pieces of digital art, sports memorabilia and concert tickets. The unique digital files, which are stored and tracked on a blockchain network, surged in popularity with investors this year, particularly among cryptocurrency enthusiasts.
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