A blundering crypto-currency group spent £2.2million on a book thinking they were buying the copyright.
Spice DAO believed buying the rare copy of Alejandro Jodorowsky's Dune would mean that they could make an animated series from it.
The digital currency firm boasted: "We won the auction. Now our mission is to make the book public, to the extent permitted by law.
"Produce an original animated limited series inspired by the book and sell it to a streaming service.
"Support derivative projects from the community."
But despite paying more than one hundred times the £20,000 asking price, critics were quick to point out the book had already been online for free since 2011.
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"But just buying a book did not give Spice DAO the copyright to its contents.
Garry Brannan, who works at the University of York's Archives, said: "This is undoubtedly the stupidest thing I have ever seen.
"Absolutely baffling.
"We've got an original copy of the shooting script for Carry On Up the Jungle at work.
"Doesn't mean that I can produce a gritty animated remake, no matter how tempting that might be."
The book - which was sold at auction - contains the vision of cult French-Chilean director Alejandro Jodorowsky's doomed adaptation of Frank Herbert's 1965 science fiction novel.
According to auctioneers Christies, the book is numbered five, and is likely to be one of between 10 and 20 copies.
Arlan Hellison joked: "Thank you for helping to obliterate the myth that people with a lot of money earned it through skill and intellect."
Another posted a picture of a Diet Coke can, and said: "This is incredibly exciting.
"I recently bought the Coca-Cola corporation (pictured) and we would be thrilled to sponsor your project."
Stephen Shomo commented: "Wow... I have 1978 calender of the LotR! I can't wait to reboot the movies!"
Lawrence J. Chaffee added: "I just bought a copy of Harry Potter, can't wait to start my animated series of it.
"Gonna sell it to Netflix."
