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Johnny Depp’s NFT collection rises from ashes after the lawsuit

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The controversial lawsuit involving actor Johnny Depp and his ex-wife Amber Heard has finally come to an end. Neither party won, as the court ordered them both to pay damages to each other. However, the compensation Heard will need to pay is much higher, which was seen as a victory for Depp.

In this sense, a website entitled Never Fear Truth released an NFT collection in honor of the actor. Soon after the outcome of the lawsuit, the price of the collection skyrocketed, boosted by the actor’s victory.

Currently, the price floor of the collection is 0.52 Ether (ETH), but users have paid 1.5 ETH on the most expensive NFT.

Johnny Depp’s NFT collection

Unlike many collections, the creators of Never Fear Truth did not create the NFTs with the hype of the process. Its creator launched the NFTs in January, at a price floor of 0.70 ETH. In this way, the collection simply gained value because of the judicial result.

The collection has 3,850 NFTs, 607 of which are emblazoned with Depp’s face. The price floor of NFTs is 0.52 ETH. However, the trading volume of the NFTs was negligible until the start of the trial. In March, the market began to pay attention to NFTs and, as a result, the collection reached the price floor of 1.64 ETH. 

Johnny Depp's NFT collection rises from ashes after the lawsuit

In addition to Depp, the collection has images of other actors who were part of the actor’s career. These images are in the “Friends and Heroes” division and include actors such as Heath Ledger, River Phoenix, Elizabeth Taylor, Al Pacino, Hunter S. Thompson.

There are also NFTs from director Tim Burton, who partnered with Depp on films like “Edward Scissorhands,” “Corpse Bride” and “Swenney Todd.” Actress Amber Heard does not have any images listed in the collection.

Johnny Depp's NFT collection rises from ashes after the lawsuit

NFTs and Artists

The case between Johnny Depp and Amber Heard generated intense debate on social media. Married between 2015 and 2017, Depp and Amber sued each other for defamation. Depp claimed that the actress defamed him in a newspaper article published in 2018. Heard, in turn, said he was defamed by a former lawyer for the actor.

In Wednesday’s jury verdict, both Depp and Heard were ordered to pay damages. The penalty was harsher for the actress who was sentenced to $15 million for her ex-husband, but later the judge lowered it to $10.35 million. On the other hand, the jury condemned Depp to pay his ex-wife $2 million.

Of course, NFTs have become controversial, seen by many investors as a scam. But in Depp’s case, at least the work wasn’t created to take advantage of a hype that many found reprehensible. Many sites describe this work as an original act.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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