Johnny Depp’s NFT collection goes up in price, days after libel trial verdict

Actor Johnny Depp’s NFT collection has seen a huge price spike. It comes a few days later the jury ruled in favor of Depp on all three counts, concluding that Heard not only made false and defamatory statements, but did so with “actual malice”.

Depp’s NFT collection “Near Fear Truth” was launched at the end of January 2022. Since its launch, it has only recorded a total transaction volume of 1500 Ethereum. However, after the verdict, the same NFT collection increased in trading volume and saw a trading volume of $352,000.

According to data obtained from OpenSea, Depp’s NFT has seen 212 sales since the verdict. Each NFT was sold for an average price of 0.8 ETH.

A report from Coinquora reveals that Depp’s collection had seen virtually no transactions before the trial, since March 2022. The collection had a starting price of 0.70 ETH when launched with 11,111 NFTs of generative art.

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Depp’s collection is inspired by Heath Ledger, Elizabeth Taylor, Al Pacino, Hunter S. Thompson, Tim Burton and River Phoenix, among others.

Interestingly, one of the works also included a portrait of his dog, himself, and a character based on his child’s dreams alongside 607 self-portraits.

“Owning a Never Fear Truth NFT will give you access to Johnny’s community on Discord; an innovative community platform. A place where fans and friends can come together and collaborate on creative projects. The community on Discord will provide an intimate environment for Johnny to express his creativity; and give you access to unique works, experiences and future projects in art, music and film,” read the description on Johnny Depp’s NFT Project website.

Meanwhile, jurors have concluded Depp should be awarded more than $10 million. However, Depp’s victory was not absolute. The jurors also found that part of Heard’s counterclaim was valid. They dismissed two of Heard’s three counts, but found she had been defamed by a lawyer for Depp who accused her of trashing their apartment to make her look worse to police. The jury awarded him $2 million.

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