Hollywood director Quentin Tarantino announced Tuesday that he is auctioning seven uncut scenes from his breakout independent film, “Pulp Fiction,” as non-fungible tokens. The NFTs will include the uncut first handwritten scripts of the film and exclusive custom commentary from Tarantino himself, according to a statement from a privacy-focused blockchain, Secret Network, that is minting the NFTs.
Fast Facts:
- Each NFT at auction contains content that is only viewable to the owner of the NFT, a feature of Secret NFTs. The commentary from Tarantino will include lesser known facts and about the film and its creator, according to Secret Network.
- “I’m excited to be presenting these exclusive scenes from PULP FICTION to fans,” Tarantino said in a statement.
- The Secret Network claims to be the first blockchain with privacy-by-default for applications. This means transaction data is encrypted, compared to other popular blockchain networks such as Ethereum that rely on public-facing metadata, according to the statement.
- The initial auction of Tarantino’s “Secret NFTs” will take place on the NFT marketplace OpenSea.
- “Pulp Fiction” was Tarantino’s breakout independent film that drew $214 million in global box-office sales from an $8 million budget. It won the Palme D’Or — the highest prize at the Cannes Film Festival — in 1994. Tarantino and co-writer Roger Avary won the Oscar for best screenplay in 1995.
- The NFT market has exploded since the pandemic, increasing 299% year-on-year to more than US$250 million in 2020, according to NonFungible.com’s report. In March, a digital collage made by artist Mike Winkelmann, professionally known as Beeple, sold for $69.3 million in a Christie’s auction.
- “NFTs could be the most disruptive technology to come out of this decade,” said Guy Zyskind, co-founder of Secret Network and CEO of SCRT Labs. “The art community is alive with innovation and the media is actively exploring all the potential use cases associated with the technology. Now, we have privacy and access controls courtesy of Secret Network. Ultimately, that will enable a whole litany of new potential use cases.”