First Tarantino NFT sold for $1m

By Raffaele Redi
• Updated

The contents of the Secret NFTs are revealed only after they've been purchased

Tarantino NFT banner                                 
The phrase “Royale with cheese” comes from a scene in Tarantino film ‘Pulp Fiction’ – Photo: Shutterstock
                                

The first of the controversial Quentin Tarantino NFTs, Royale with Cheese, sold for around $1m.

The only copy of the “Royale with Cheese” chapter of the American filmmaker’s Pulp Fiction screenplay received several bids made, mostly, in the last hour.

The Secret NFT – whose contents are only revealed to the winner after purchasing the NFT, not before – was the first of seven chapters from the original, hidden Pulp Fiction screenplay which will be auctioned off in the coming days.  

The name of the NFT references a scene in the film where John Travolta's character explains that in France, because “they got the metric system there,” a quarter-pounder is called a “Royale with Cheese”.

SCRT Labs’ $400m funding round

Meanwhile, NFT developer SCRT Labs, the force behind the NFT platform Secret Network which launched the Quentin Tarantino NFTs, announced the closing of a $400m funding round as part of Shockwave.

The company said the initiative is aimed at “establishing Secret Network as a critical pillar and data privacy hub for Web3”.

As the company explained, the $400m funding is divided between a new $225m ecosystem fund, comprised of contributions from over 25 existing ecosystem investors, partners, and tooling, and a $175m accelerator pool, funded in SCRT, that is designed to provide non-dilutive capital, grants, and ecosystem incentives to rapidly expand user adoption.

The round saw multiple top-tier investment firms acquiring SCRT positions and joining the Secret ecosystem as critical stakeholders and ecosystem fund participants, including DeFiance Capital, Alameda Research, CoinFund and HashKey.

Secret Network is the first Layer 1 blockchain with privacy-preserving smart contracts, and launched on mainnet in 2020.

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