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Major players in traditional entertainment are using nft. This week, renowned director and writer Quentin Tarantino announced the addition of exclusive "pulp fiction" NFT.
The nft is expected to consist of never-before-seen footage from a popular movie released on the secret network blockchain. However, unlike most NFTs that have gone public to date, this release has one problem: given the nature of the blockchain, NFTs will not be publicly viewed. Let's dive into what we've learned so far:
According to today's announcement on the secret network webpage, tarantino's nft version will be the first version of the blockchain. Seven unique NFTs will be available, including an original "pulp fiction" handwritten script and an exclusive audio review by Tarantino himself.
Secret network is a Layer 1 privacy blockchain created by scrt labs. The secret network's unique value proposition lies in the name; nft will be "secret" and will only be accessible by the nft owner. This is a particularly interesting proposition in the nft world, where many community members advertise their purchases as social media profile pictures. However, Tarantino's impact on film and culture may appeal to fans NFT collectors who can set it aside and embrace the privacy of the token. In addition, according to the press release, even the public-facing metadata that will be the "cover page" of nft contains exclusive, never-before-seen content.
NFT will be released later this month and there is currently an open waiting list available for registration. The initial auction will take place on opensea.
There's been a lot of speculation about the potential impact of NFT on creative channels like music, but there's little mention of film and television in the field. However, Tarantino's collaboration could spur further efforts in the field. "Pulp Fiction" is a classic film that has received seven Academy Award nominations, including Best Picture. Tarantino will be a guest speaker at this week's nft.nyc gathering with Galaxy Digital CEO Mike Novogratz.
This collaboration is the first noteworthy partnership for the secret network. The platform is designed to bring NFT to market, enabling creators to choose which metadata is public-facing and which data is not. This is almost unparalleled in the media NFT space, where recent deals — such as Veve's expanded collaboration with Disney — exist on public-facing or more centralized blockchains.
The team at secret network noticed some interesting potential use cases in the media, such as sealed auctions – however, as space grows, the full potential of these chains remains to be seen.
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