If fear is the mindkiller, then stupidity must be the pocketbook-killer. Just ask the crypto bros who made a three million dollar mistake by failing to read the fine print.
An anonymous NFT group called Spice DAO (decentralized anonymous organization) made waves last week when they triumphantly tweeted about their recent acquisition of a rare art book: Jodorowsky’s Dune, the guidebook to an ambitious but ill-fated film adaptation of Frank Herbert’s Dune. These spiceheads had big plans to convert the book into NFTs, burn the physical copy, and adapt the story into an animated series. There’s just one problem: little did they know, they don’t actually own the copyright to Dune. All they own is one very, very expensive book.
Before we get too deep into this tale of crypto folly, a little primer on the book: back in 1974, director Alexander Jodorowsky set out to make a film adaptation of Dune. Two years into the process, the project was killed due to a lack of funding, but not before it became the stuff of cinematic legend. Jodorowsky envisioned the film at a whopping fourteen hours long, with a score by Pink Floyd; meanwhile, Salvador Dalí signed on to play Padishah Emperor Shaddam Corrino, though his exorbitant salary may have been the project’s kiss of death. Dead-set on becoming the highest-paid actor in history, Dalí demanded to be paid $100,000 per minute of screen time. Orson Welles was to play the evil Baron Harkonnen, and even Mick Jagger signed on for an unspecified part. Ironically enough, the unmade film later became the subject of a 2014 documentary.
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Before the project was ultimately canned, Jodorowsky presented studio executives with an extensive book of concept art, which included set designs, character designs, and a storyboard of the entire film sketched by Moebius, the legendary French cartoonist. It’s estimated that somewhere between ten and twenty copies of Jodorowsky’s Dune still exist in the wild; periodically, they come up at auction, fetching somewhere in the neighborhood of $25,000. Last November, one such copy went up for auction at Christie’s, where appraisers expected it would sell for around $40,000.
Imagine everyone’s surprise when Spice DAO swooped in with a bid that went way, way over asking price. Spice DAO paid more than a hundred times the modest estimate, taking home the book for $3 million. According to an investigation by BuzzFeed News, the money was crowdfunded by the Dune-loving cryptocurrency enthusiasts of Spice DAO, who pitched in with the promise that they’d get to vote on the book’s future. Spice DAO stated that its goal was “to issue a collection of NFTs that are technically innovative and culturally disruptive.” Burning the book would be “an incredible marketing stunt which could be recorded on video”; the video itself would then be sold as an NFT. (Seems like these crypto bros have had too much spice, doesn’t it?)
When Spice DAO crowed about their purchase on Twitter, the Internet was quick to set them straight. Buying Jodorowsky’s Dune doesn’t confer the copyright needed to produce Jodorowsky’s vision; it only confers one very old, very expensive book. Spice DAO also intended to make the book public, which is a noble aim—or it would be, if the book wasn’t already free and available on Steve Jobs’ Internet. Ultimately, Spice DAO has made a very expensive mistake—one exemplifying how some crypto bros with millions to burn don’t even know what they’re buying.
But Spice DAO doesn’t want to hear it. In a post on Medium following the blowback, the group provided an update on their master plan: “After two months of outreach, conversations with former business partners and consultations with legal counsel, we have not been able to reach an agreement with any of the rights holders involved in the creation of the contents of the book of collected storyboards of Jodorowsky’s Dune.” Seems like a dead end, right? But Spice DAO won’t be stopped. According to the post, they’re having “a whirlwind week of meetings with industry professionals,” including Drake’s lawyer, an animation producer on Kill Bill, a writer on Netflix’s Love Death, & Robots, three Los Angeles animation studios, a science fiction publisher, and “Roble Ridge Productions, who have relationships with marquee Hollywood actors.” The spice—and the meetings—must flow.
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According to trademark attorney Kirstey Stewart, Spice DAO is in for a rude awakening, whenever they come to their senses. As Stewart told The Guardian, “In order to produce or authorize derivative works such as an animated series, Spice DOA would need to obtain licenses from the Herbert estate, as well as potentially Jodorowsky (and any other authors such as Michel Seydoux) if the adaptation was based on the Jodorowsky book. Similar to how buying a Batman comic does not give you the inherent rights to produce a new Batman film, the purchasing of this director’s bible does not give Spice DOA any intrinsic rights to produce new material.”
In Dune, Herbert envisions a world without computers; as the lore would have it, “thinking machines” were once mankind’s greatest adversary. Maybe Herbert was onto something there?
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