Johnny Depp’s NFTs Skyrocket After Defamation Trial Victory
2022.06.03 14:52
Johnny Depp’s NFTs Skyrocket After Defamation Trial Victory
- Johnny Depp’s ETH-based NFTs saw a price surge after the actor won the defamation case against his ex-wife.
- 212 NFTs sold the day after Depp’s trial win.
- The NFTs titled ‘Never Fear Truth’ is inspired by his ‘Friends and Heroes’.
After the verdict of the defamation lawsuit against his ex-wife Amber Heard, actor Johnny Depp’s Ethereum (ETH/USD) based collection of NFTs has seen a surge in interest.
Depp’s NFT collection, ‘Never Fear Truth’ witnessed a total trading volume of 1,500 ETH since its launch in late January 2022. After the jury’s verdict awarded Depp $10 million as compensatory damage and $5 million as punitive damages, the Pirates of the Caribbean actor’s 3,850 NFTs saw a trading volume of $352,000.
pic.twitter.com/BuccCl3r1B
— Never Fear Truth (@JohnnyDeppNFT) June 1, 2022
The average floor price for the collection at present is 0.7441 ETH (around $1,352 at the time of writing). This collection had seen barely any transactions before the trial, since March 2022 when the floor price peaked at 1.64 ETH (As per CoinMarketCap, ETH was trading around $2,664 back then). The collection had a starting price of 0.70 ETH upon its launch with 11,111 generative art NFTs.
Source: OpenSea
According to OpenSea data, Depp’s NFTs saw 212 sales only on June 6, at an average price of 0.8 ETH and a volume of 169,605, following his win in the aforementioned trial. The collection that features artwork by the award-winning actor himself, was verified as authentic by MarketPlace only last month.
‘Never Fear Truth’ collection is inspired by Depp’s Friends and Heroes including Heath Ledger, Elizabeth Taylor, Al Pacino, Hunter S. Thompson, Tim Burton, and River Phoenix among others. It also included a portrait of his dog, himself, and a character based on his kid’s dreams alongside 607 self-portraits.
Source: Never Fear Truth
What gave rise to the surge was the seven-week-long defamation trial which started after Depp sued ex-wife Amber Heard over a 2018 published op-ed in The Washington Post authored by Heard which cited ‘domestic abuse’ that Depp caused during their 15-months long marriage. On June 2, the jury found both Depp and Heard liable for defamation. However, the jury awarded significantly more damages to Depp, making it a significant legal win for the actor.
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