A dispute between Quintin Tarantino and movie studio Miramax is becoming more public as an auction to sell script pages and other collectibles from "Pulp Fiction" as NFTs approaches. The NFT auction is scheduled for January 17.
As more creators and artists leverage NFTs as a monetization stream, the intellectual property rights as to who owns what using this new technology will only continue to be litigated. The litigation will hopefully clarify whether grants of intellectual property rights in previous contracts can encompass new NFT technology and assets.
While these intellectual property rights will continue to be litigated, those in the NFT space will need to be cognizant of how to structure their agreements and assignment of intellectual property rights to encompass current uses of NFTs. Also, although there is no way to predict the future, it would be worth the time to gaze into a crystal ball and think of ways to anticipate the future use of NFTs to include appropriate intellectual property protections into any agreements.
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