Quentin Tarantino, the film director, is the latest major celeb to go all ‘NFT’ on the entertainment industry’s ass with his latest NFT collection, which is available now. Meanwhile, the cryptocurrency industry is surging forward.
The acclaimed filmmaker of films such as Once Upon a Time in Hollywood, Kill Bill, and Reservoir Dogs has revealed that he will be publishing 7 non-fungible tokens (NFTs) that will include previously unseen material from Pulp Fiction, which is perhaps his best-known work.
The NFTs will be auctioned off on the OpenSea marketplace, and they will also contain “hidden” supplementary pieces of material, which might include handwritten film screenplays and audio commentary from Tarantino himself, according to a report from Variety.
Tarantino has chosen to mint the coins on a Secret (SCRT) blockchain, which is a blockchain that includes smart contracts as well as a built-in privacy mechanism to protect user data. Essentially, this implies that the Pulp Fiction material will be accessible exclusively to individuals who have purchased the relevant NFTs. It also implies that the transaction history of the NFTs is kept entirely confidential.
The director stated in a press statement that he was “thrilled” to be able to show fans these unique moments from the film Pulp Fiction. It’s an exciting time to be a member of the Secret Network & Secret NFTs since they open up a whole new universe of opportunities for fans and artists to interact.”
In addition to the Tarantino-Secret collaboration, this is only the latest in a long line of Hollywood forays into the lucrative and ever-growing crypto-industry.
NFTs of a 2011 Coachella collaboration between fellow filmmaker David Lynch & US rock band Interpol were released last month, and MGM recently partnered up with online collectibles marketplace VeVe to release NFTs of the James Bond film No Time to Die. In addition, an entire Anthony Hopkins movie was released in the non-fungible token form in September.
The coins will not be created on Ethereum like most other NFTs. Instead, Tarantino has chosen Secret Network, a platform that specializes in smart contracts that protects user privacy while maintaining security and transparency. As a result, only the token’s owner will be able to see the content, and no one else will be able to see transaction details like who bought what and how much it cost. Once an asset is sold over Ethereum or another blockchain, it’s normally possible to track its transaction history.
Here’s what Tarantino had to say about this in a press release:
“I can’t wait to share these never-before-seen moments from Pulp Fiction with you all.” Fans and artists can now interact in a whole new way thanks to the Secret Network & Secret NFTs, and I’m proud to be a member of it!”
Unlike Tarantino, Hollywood hasn’t yet made its first foray into the NFT arena. Last month, Interpol and David Lynch collaborated to create seven audio-visual compositions on the Ethereum virtual currency platform. An NFT design company that created the CryptoPunks NFT collection this summer has secured an agreement with United Talent Agency in an effort to get representation for its own NFTs in cinema, television, and video games.
This year’s crypto bull run has brought NFTs to a wider audience than ever before. Celebrities and digital artists like Grimes, Eminem, and Jay-Z are among those who have started to embrace technology as it becomes more mainstream. NFT.NYC, the world’s biggest NFT conference to date, revealed Tarantino’s NFT collection.In 1994, Pulp Fiction was hailed as one of the greatest films of all time. One of Tarantino’s finest works, it is noted for its brutality and disarray in the way the scenes are put together. It was awarded both the Palme d’Or and Best Screenplay at the 1995 Oscars. The popularity of the film helped launch the careers of actors including John Travolta, Samuel L. Jackson, and Uma Thurman.