After Johnny Depp won a defamation suit against ex-wife Amber Heard yesterday, the price of an NFT collection containing his artwork has risen.
Johnny Depp NFT Surge
As of yesterday evening, the 3,850 “Never Fear Truth” NFTs have a floor price of 0.52 ETH (about $944). The collection had not experienced any traction since March 11, when its floor price reached 1.64 ETH, before the televised defamation trial. According to CoinMarketCap, Ethereum was trading at $2,664 at the time. With a starting price of 0.70 ETH, the collection was first released in January.
Depp’s artwork is featured in the “Never Fear Truth” collection of generative art on OpenSea, which is minted on Ethereum. MakersPlace certified the project’s authenticity last month. Heath Ledger, Tim Burton, River Phoenix, Elizabeth Taylor, Al Pacino, and Hunter S. Thompson are among the “Friends and Heroes” from Depp’s history featured in the collection.
“In this first public exposure of Johnny’s art, he has focussed on people he has known well, and who have inspired him as a person,” the description reads. “Each image is an intimate reflection of their character in Johnny’s eyes; a portrayal of how they have revealed themselves to him.”
Non-fungible tokens (NFTs) are cryptographically distinct tokens that are tied to digital (and occasionally physical) content and serve as proof of ownership. Each “Never Fear Truth” NFT will operate as a subscription to a creative community and future Depp releases, according to the OpenSea listing.
Depp is far from the first controversial figure to enter the NFT business. Ice-T, the rapper-turned-actor, debuted an NFT line with Niftify in December. The protest song “Cop Killer,” written from the perspective of a character fed up with police brutality, was featured on Ice-1992 T’s album “Body Count,” which sparked nationwide outrage.
Of course, NFTs have sparked debate, with gamers and artists objecting to what they see as a cash grab or worse, a scam, not to mention the environmental impact of NFTs minted on proof-of-work blockchains like Ethereum, which is transitioning to a proof-of-stake algorithm.
About Johnny’s Never Fear Truth NFTs
Never Fear Truth is the genesis collection of 3,850 NFTs created by Johnny Depp. Each NFT acts as a membership key to his community and future releases, establishing a creative community of fans and friends through ownership on the Ethereum blockchain.
