Following the conclusion of his defamation trial against his ex-wife Amber Heard, Johnny Depp’s collection of Ethereum (CRYPTO: ETH) based NFTs has seen a sudden increase in demand.
Since its launch, Depp’s “Never Fear Truth” collection has had a total trading volume of 1,500 ETH. The actor’s NFT line saw a dramatic surge in sales when the jury returned its final decision, giving Depp $10 million in compensatory damages and $5 million in punitive penalties.
According to OpenSea data, the collection sold 212 times on June 2. The collection’s current floor price is roughly 0.52 ETH.
What Is Johnny Depp’s NFT Collection?
There are 3,850 NFTs in the collection, all of which feature Depp’s own artwork. “Friends and Heroes” is the theme of the actor’s collection, which features persons he has known or who have influenced him.
Included in this list are Heath Ledger, Al Pacino, Tim Burton, and Elizabeth Taylor. The collection also features 607 self-portraits.
“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,” reads the description of the collection on OpenSea.
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 regard as a cash grab or worse, a hoax, not to mention the environmental impact of NFTs minted on proof-of-work blockchains like Ethereum, which is transitioning to a proof-of-stake protocol.
The Verdict of Johnny Depp VS Amber Heard
On May 31, 2022, the verdict in the defamation trial between Johnny Depp and Amber Heard was announced. The Aquaman actress defamed her ex-husband in a 2018 op-ed piece for The Washington Post in which she claimed to be a victim of domestic violence, the seven-member panel unanimously decided.
Johnny Depp was given ten million dollars in compensation damages and five million dollars in punitive damages by the jury. Judge Penney Azcarate of the Fairfax County court has recently reduced the punitive damages to $350,000. Heard was also given $2 million in compensatory damages by the panel.
Sahil Prashar
Sahil likes to use his great writing skills to curate articles about Crypto and KPOP here at Clout News.