A court filing on Friday said that famous director Quentin Tarantino and production company Miramax have reached a settlement in their long-running non-fungible token (NFT) lawsuit.
Both sides have agreed to drop the lawsuit, which started when Tarantino said last November that he was going to release NFTs with footage from his hit 1994 movie “Pulp Fiction,” which Miramax said it owned the rights to redistribute.
In a joint statement released Friday, Tarantino and Miramax said, “The parties have agreed to put this matter behind them and look forward to working together on future projects, including possible NFTs.”
The details of the deal were not made public. The first NFT from Tarantino’s collection sold at auction in January for more than $1 million.
Many people thought that the case was a great example of Web2 copyright laws being used in a Web3 setting. The people who work for Tarantino said that NFTs, which didn’t exist when the movie came out, aren’t part of the list of media that can’t be shared again.
The NFT collection lives on the SCRT network, which is known for its “secret” NFTs that can only be seen by the people who own them. The lawsuit was also about how the NFTs worked, since Miramax didn’t know what token-gated content was being distributed.