on the crypto
The 58-year-old director announced that he is diving into the world of cryptocurrencies by auctioning seven uncut scenes from his 1994 dark comedy starring John Travolta and Uma Thurman as Secret NFT on OpenSea, the largest NFT marketplace in the world.
What is it about
An NFT is a unique digital token encrypted with an artist's signature, which verifies its ownership and authenticity, and is permanently attached to the piece. It allows you to sell “original” versions of popular online content, such as viral memes and tweets, as if they were physical works of art.
Secret NFTs allow NFTs to contain both public and private metadata and give the owner the choice between publicly viewing the property or keeping the secret. The NFTs will be built on the Secret Network, a blockchain that focuses on privacy, and then auctioned on the OpenSea NFT market.
The director expressed enthusiasm for the new venture
“I am thrilled to present these exclusive Pulp Fiction scenes to fans. Secret Network and Secret NFT offer a whole new world to connect fans and artists and I am thrilled to be part of it, ”Tarantino said in a statement.
In addition to the seven previously unreleased scenes, there will also be an unbroken first handwritten screenplay of "Pulp Fiction" and an exclusive custom commentary by Tarantino that "will reveal the secrets about the film and its creator," according to a statement.
"The public metadata of the NFT - the 'cover' of this exclusive content - is rare in itself: a unique work of art, never seen before, in front of the public," the statement added. There is currently no date when NFTs will be available for auction, but a website for NFT offers users to sign up for a waiting list.
"Pulp Fiction" celebrated its 25th anniversary in 2019 and is often credited by movie buffs for introducing independent films to the mainstream. The film earned over $ 200 million worldwide and earned Tarantino an Academy Award for Best Screenplay.
Tarantino joins other celebrities who have embraced NFTs, including Lindsay Lohan, Grimes, and Paris Hilton
NFTs exploded in February and March of this year. A single NFT by digital artist Beeple raised $ 69,3 million at Christie's in the first sale by a large auction house of non-physical artwork.
Tokens are similar to cryptocurrencies like Bitcoin and Ethereum (quotation in real time) as they live on blockchain networks, a decentralized and distributed ledger that records transactions of digital assets.
But unlike traditional cryptocurrencies, NFTs are non-fungible, which means that one cannot be exchanged for another. Digital assets are valuable to collectors and can represent objects including images, GIFs, videos, music, and more.
