Most jurisdictions, including Australia, have yet to develop specific regulatory frameworks for NFTs, meaning that we are once again left to wonder how our existing intellectual property laws will apply to these once unimaginable assets. The allegations arose from a collection of NFTs based on based on the cult favourite film which were said to comprise "exclusive scenes" from Tarantino's hand-written script of the movie. The case was first commenced back in November 2021, when film studio Miramax sued Pulp Fiction director, Quentin Tarantino for breach of contract, copyright infringement and trade mark infringement. However it looks like this area of law will have to wait a little longer for its moment in the spotlight, with Miramax and Quentin Tarantino settling their dispute which caught international media attention. Hollywood director, cult classic film and major production company – the stage was set for a truly breakthrough debut performance as a US Court was poised to wade into the milieu of intellectual property issues that arise from non-fungible tokens. One of the first high-profile US intellectual property cases involving NFTs has settled, meaning it is more important than ever to carefully consider the various intellectual property issues which may be relevant to the creation and commoditisation of NFTs.
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