NFTs in a nutshell: A weekly review

A new car manufacturer is entering the NFT world. We can finally end the NFT-centric saga of the Tarantino and Miramax feud. These are just a couple of the biggest stories from the past week in the NFT landscape – let’s review these, and more, from the past seven days.

This week’s non-fungible token news

One last Tarantino & Miramax update: Showdown

We can finally close the door on the long-running saga that has been Quentin Tarantino and the Miramax dispute over Tarantino’s ‘Pulp Fiction’ NFTs. The two sides reached a settlement agreement in recent days, according to reports, after Miramax pursued a copyright suit late last year and into this year.

The two parties plan to submit termination papers in the coming weeks, and have said in a joint statement that they have put the matter behind them, and that they look forward to future collaborations – including potential future NFT projects.

The 1994 film ‘Pulp Fiction’ was one of Tarantino’s finest works, and the focal point of Tarantino’s NFT project – which contained uncut scenes from the film. Miramax argued that it had full rights with few exceptions, and believed that those exceptions did not include NFTs. Tarantino first announced the project last November.

In partnership with The Secret Network, Tarantino released the first of several ‘Pulp Fiction’ NFTs in January, giving north of $1 million – but the remaining token releases were cancelled, as The Secret Network cited market volatility.

Details of the settlement are few and far between, but it appears that Tarantino has the green light to pursue NFT projects — and speculators may suggest that perhaps Miramax will see a percentage of the profits on such deals.

Ford joins a growing list of big box brands to show interest in NFTs

US carmaker Ford joins an ever-growing list of major brands to express interest in engaging with NFTs. The move comes as the company filed 19 trademark applications with the US Patent and Trade Office (USPTO) in recent days.

As our team reported, “Ford plans to offer SUVs, vans, cars and trucks in downloadable text, artwork, video and audio files in NFTs,” according to the filing. The firm is also looking at AR and VR car shows.

Few domestic US manufacturers have explored with NFTs, Chevrolet being one of them. Several foreign premium car manufacturers, such as Porsche and Lamborghini, as well as companies such as Nissan and Toyota have also played in the space.

Ethereum's long-awaited merge is just a few short days away. As the blockchain moves from Proof-of-Work to Proof-of-Stake, what sort of impacts could we see on the NFT market? | Source: ETH-USD on TradingView.com

OpenSea will not address forked NFTs after merging

Goodbye, Proof-of-Work NFTs. At least that’s the apparent sentiment from leading NFT marketplace OpenSea over the past week. With the long-awaited Ethereum merger now just days away, OpenSea shared in an announcement that they are not concerned with PoW NFTs, and will focus on serving PoS NFT pools. PoW NFTs will apparently not be supported on OpenSea after the merge this week.

NFTs in the wake of Queen Elizabeth’s death cause controversy

Meme coins and NFT collections are inevitable when it comes to global headlines. This past week was no exception with the passing of Queen Elizabeth, a historic moment that led to many NFT troll gatherings that many found quite distasteful.

CASETiFY’s NFT Push

The technical accessory brand CASETiFY wants to make its mark on the digital landscape. The company’s new ARTFT Pass will give users access to “exclusive benefits, such as a lifetime supply of limited edition CASETiFY phone cases, unique access to a new model that will enable them to earn additional rewards, and access to future drops, ” according to a press release – and as detailed by our team in Bitcoinist’s full report.

CASETiFY continues to look to build this converging environment of physical and digital, which the company calls “phygital,” and may likely look to leverage powerful IP partners and/or native Web3 partners as it builds out its ARTFT program.

Featured image from Pexels, Charts from TradingView.com

The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.