Director Quentin Tarantino and Miramax have agreed to settle the lawsuit regarding the NFT collection based on the film “Pulp Fiction”.
Details of the agreement were promised to be disclosed within two weeks.
“We have agreed to put this matter behind us and look forward to working with each other on future projects, including potential NFTs,” according to a joint statement.
In November 2021, Tarantino announced NFT auction based on “Pulp Fiction”.
The full collection contains seven tokens featuring chapters from the director’s original handwritten script and his exclusive audio commentary.
Miramax filed suit against Tarantino accusing unfair competition, breach of contract, and copyright infringement.
“OpenSea reportedly did not wish to aid or facilitate your willful copyright infringements,” Deadline quotes the lawyers.
In January, for the first NFT titled Royale with Cheese from Tarantino’s collection, the buyer paid $1.1 million.
Since April, the aggregate trading volume of collectible tokens has shown a steady decline. In August alone, the figure fell by nearly half from July — to $369.53 million.
The NFT ecosystem Solana showed the opposite trend. In early September, the number of tokens issued reached a new all-time high.
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