• Johnny Depp Ethereum NFTs Rise Following Actor’s Defamation Suit Against Amber Heard

  • The price of an NFT collection including Johnny Depp artwork has risen after the actor won a defamation suit against ex-wife Amber Heard yesterday.

    As of this writing, the 3,850 “Never Fear Truth” NFTs have a floor price of 0.52 ETH (about $944). Prior to the televised defamation trial, the collection has received little attention since March 11, when its floor price peaked at 1.64 ETH. According to CoinMarketCap, Ethereum was trading at $2,664 at the time. The collection was first made available in January, with a starting price of 0.70 ETH.

    The “Never Fear Truth” generative art collection on OpenSea is minted on Ethereum and features artwork by Depp. MakersPlace certified the project’s authenticity last month. Images of Depp’s prior “Friends and Heroes” include Heath Ledger, Tim Burton, River Phoenix, Elizabeth Taylor, Al Pacino, and Hunter S. Thompson.

    Depp appears in 607 of the pieces.

    “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 sometimes physical) content and serve as proof of ownership. Each “Never Fear Truth” NFT, according to the OpenSea listing, will serve as a membership to a creative community and future Depp releases.

    Depp is far from the first controversial star to enter the NFT industry. 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 fired up with police abuse, made Ice-1992 T’s album “Body Count” globally controversial.

    Of course, NFTs have proven divisive, with gamers and artists railing against what they regard as a cash grab or, worse, a hoax, not to mention the environmental impact of NFTs issued on proof-of-work blockchains such as Ethereum, which is in the process of transitioning to a proof-of-stake system.

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