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**Miramax Films Challenges Secret Network as OpenSea Buckles to Legal Pressure **
Non-Fungible Tokens (NFTs) continue to cause controversy and bring criticism from the general public but that hasn't stopped mainstream companies attempt to get in on the action in an attempt to drive home new income streams and increase corporate profits. In September 2021 Budweiser an American Beer company had specialised NFTs created for it and purchased domain name Beer.eth for at the time $US95,000 Source
Celebrities Continue to Drive NFT Craze
Celebrities continue to drive NFT crazes with many admitting to owning their own collections and many developing their own range of NFTs. Snoop Dogg in September 2021 announced that he was using an alias to collect NFTs which at the time were worth $US17 Million dollars Source.
However, not everyone is sold on the technology and a recent stunt undertaken by an Australian software developer resulted in the South Australian right clicking and saving 10 Terabytes of JPEGs and putting them up for download on the infamous Pirate Bay website source.
TARANTINO NFTs
Back in November I wrote an article on how the famous director Quentin Tarantino was auctioning off 7 uncut scenes as NFTs on the Secret Network which you can read the article HERE.
The action of Tarantino listing uncut scenes as NFTs on Secret Network has prompted Miramax to initiate court proceedings against the director on the grounds of copy right infringement and breach of contract. Despite an ongoing court case which is scheduled to conclude on Fed 2022 the Director is stating he will follow through with the sales source
OpenSea Buckles to Miramax Legal Pressure
The initial NFT sales were planned to occur on OpenSea but were cancelled without explanation but sources close to OpenSea have disclosed that OpenSea had received legal correspondence from Miramax's legal team requesting the sales be removed due to copy right infringements.
Due to OpenSea cancelling the sale it is now being conducted on Secret Network sometime this month which has also resulted in Miramax attempting the prevent the sale going ahead as legal notices were sent to the CEO of Secret Network Guy Zyskind.
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We presented our source with the documents obtained from Twitter requesting the cessation of the NFT sales to confirm if it was the same letter. The source stated "It's similar". Despite OpenSea delisting the sales Secret Network plans to continue with the listings and view Miramax's actions as Bullying and Intimidation to sabotage the sales.
The Secret Network community and the broader crypto community have risen to the challenge supporting the network in their fight and Tarantino continues to fight the legal challenge. A core stance that has arisen in the court proceedings is that NFTs did not exist in the 90s so Miramax can not hold the rights to it. Furthermore, the NFTs relate to Tarantino's Hand Written Script.
The Importance of the Case
The significance of this case crosses a few core issues for creators, rights holders and the general public whom wishes to purchase the artworks. Cryptocurrency was born to challenge the current broken system that obscures power to the few and this is an example of that power with a creator Vs an outdated contract created in 1992 prior to NFTs being in existence. In the source article above Tarantino's private contract was disclosed to the court as evidence of copyright ownership, a move which will no doubt harm Miramax in the long run.
Furthermore in the information cited above the courts were not wanting to pursue this case with a request to resolve the matter through mediation but neither party could come to an agreement with Miramax wanting the sales to cease.
Miramax further threatens in their legal notice to Guy that potential purchasers could be liable for costs if they on-sell the NFTs, but as Secret Network does not list transactions it will be near impossible for the company to monitor other than purchasing the NFTs themselves which they are free to do.
From discussions in the Secret Network Discord server the network isn't planning on ceasing the sales anytime soon but Miramax does have the ability to seek a court order to suspend the sale until after the court case is heard, which currently it is unknow if they have attempted to at this stage.
This case is a case we all should be watching closely as it will set a precedent for future artists.
What are your thoughts on the legal challenge and of what Miramax is attempting to do? let me know in the comments section below.
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