As blockchain projects diversify into sales marketplaces for creative works, many find themselves dealing with copyright problems due to uncertainty as to how existing law applies to things like NFTs (non-fungible tokens) and DAOs (decentralized autonomous organizations). For instance, while purchase of an NFT confers certain rights, copyright isn’t one of them, unless the buyer applies for a standard copyright license. Spice DAO spent $3 million to purchase director Alejandro Jodorowsky’s 1970s illustrated pitch for an unfilmed version of “Dune,” only to have the “Dune” copyright holder block the ability to turn the storyboards into an animated film. Continue reading IP Protection for NFTs and Blockchain Assets Is Still Unclear

Non-fungible tokens (NFTs), digital assets stored on the blockchain, hit $10.7 billion in trading volume during the third quarter. It’s a serious pot of money and Hollywood wants a piece. Quentin Tarantino’s efforts to sell NFTs associated with his 1994 feature “Pulp Fiction” and Miramax’s lawsuit to prevent him from doing so without its own financial participation could prove seminal. While studios have undoubtedly begun adding “NFT” to contracts in express terms, the rulings as this first-in-class lawsuit wends its way through the courts will impact NFT rights for all previously made films. Continue reading Miramax’s Tarantino Lawsuit Forges a Path for Industry NFTs

Amazon launched its global Prime Video service, pricing it under Netflix to compete in the subscription-video arena. This year, according to Cowen & Co., Amazon is on track to spend more than $3 billion on Prime Video content, compared with $6 billion by Netflix. In addition to its Amazon Studios originals, the program line-up for its international Prime Video offering will include hundreds of movies and TV shows, varying by country. Licensed movies include “Jurassic Park,” “Pulp Fiction,” “Gone Girl” and others. Continue reading Amazon’s Global Push Creates Direct Competition with Netflix