Award-winning American film director Quentin Tarantino is set to release several non-fungible token (NFTs) based upon uncut scenes from his highly popular second feature film “Pulp Fiction”.
According to a report by CNBC, these seven NFTs, which were created on Secret Network, will be auctioned off on NFT market place OpenSea.
According to its developers, Secret Network is “a decentralized network of computers (which we call “secret nodes”) that use hardware-based and software-based privacy technologies to enable secure computation. On top of this network, developers can build Secret Apps – unstoppable, permissionless applications that can utilize encrypted data without ever exposing the data itself, even to the nodes in the network performing computations.” What is special about is that it “combines the best features of decentralized, open-source networks and blockchains with the benefits of data privacy and improved usability.”
Some sample use cases for Secret Network include “privacy-preserving credit scoring and lending; private on-chain auctions for cryptoart and other digital collectibles; decentralized access control; secret voting for collective decision-making; privacy-preserving machine learning; and many more applications in the fields of decentralized finance, gaming, healthcare, and dozens of other industries.”
The CNBC report went on to say that Tarantino’s Secret NFTs “protect not only the filmmaker’s never-before-seen ‘Pulp Fiction’ content, but also the identity of the eventual owners.”
The press release, which was issued on November 2, said that “each NFT contains ‘secret’ content viewable only by the owner of the NFT, a groundbreaking and unique feature enabled by Secret NFTs.” The secret content, which is “one-of-a-kind, has never been seen or heard before”, will include ‘the uncut first handwritten scripts of “Pulp Fiction’ and exclusive custom commentary from Tarantino, revealing secrets about the film and its creator.” As for the public metadata of the NFT, this is “rare in its own right: a unique, never-before-seen, public-facing work of art.”
Tarantino had this to say about the upcoming NFT drop:
“I’m excited to be presenting these exclusive scenes from ‘Pulp Fiction’ to fans. Secret Network and Secret NFTs provide a whole new world of connecting fans and artists and I’m thrilled to be a part of that.“
According to the press release, here are how Secret NFTs are different from the NFTs that are powered by Ethereum and other “popular public-by-default blockchain networks”:
“To date, all NFTs propagated on Ethereum and other popular public-by-default blockchain networks rely on public-facing metadata. In other words, the images featured within the NFT wallet of collectors are visible to all, with no choice available to the creator or owner. Secret NFTs change all this, enabling NFTs to contain both public and private metadata as well as giving the choice to the owner between publicly displaying ownership – or keeping it secret.“
Guy Zyskind, Co-founder of Secret Network and CEO of SCRT Labs (which is “the driving force and the founding
core development team behind Secret Network”) said:
“NFTs could be THE most disruptive technology to come out of this decade. The art community is alive with innovation and the media is actively exploring all the potential use cases associated with the technology. Now, we have privacy and access controls courtesy of Secret Network. Ultimately, that will enable a whole litany of new potential use cases.“
Finally, the press release talked about how Secret NFTs enable the following use cases:
“Developers and artists can use its underlying technology to create NFT assets with private owners and native access control. In the art world, Secret NFTs could be used to set up private galleries, maintain financial privacy for artists, or conduct sealed bid auctions.
“Digital media could use Secret NFTs to create watermarked content or to protect exclusive or gated content.
“Game producers could tap Secret Network to create loot boxes with mystery content, deploy playable trading card games with hidden traits, or design RPGs with far more engaging strategic gameplay relying on imperfect information.
“In the ‘real’ world, Secret NFTs could be used to represent digital ID cards and passports with hidden personal information, receipts for luxury items and properties, and ticketing systems for events.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.