If new information is added - for example, if a collector buys a picture - a new block is created and linked to the previous one. The information about a picture is stored in a block. The special technology behind NFTs is known as the blockchain. Turning a digital file into something unique - even though it may be widely available on the Internet, downloaded and copied to one's own hard drive - only became possible through NFTs. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video This means that anyone who buys an NFT owns the original. What is special about them is that they are 'non-fungible,' that is, not interchangeable.

They can be anything from images, photographs, works of art, videos and animations to texts, tweets, source codes and music in digital form. What Tarantino offers as an exclusive package is also available in a smaller version, because NFTs are nothing more than digital works.

'Each NFT in the collection consists of the original script from a single iconic scene, as well as personalized audio commentary from Quentin Tarantino himself,' the website promoting the auction states.Īccording to the official announcement, the collector will gain 'an insight into the secrets of Quentin Tarantino's mind and creative process.'īut, ahead of the auction, film studio Miramax, which produced Pulp Fiction, filed a lawsuit for breach of contract. Miramax claims that they own the rights of the film and that Tarantino's project of selling NFTs of his hand-written script amounts to copyright infringement.Īt the time of the release of Pulp Fiction in 1994, NFTs obviously did not exist, and their relation with existing copyright law is still ambiguous. US director Quentin Tarantino is launching an auction January 17 with his first non-fungible token (NFT) collection.įirst off on the auction block are individual chapters from his Oscar-winning screenplay for the classic film Pulp Fiction.

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