Keystone Law has advised the fine art studio Pantheon Art on the launch and sale of 10,000 Non-Fungible Tokens (NFTs) based on artwork by the actor Johnny Depp.
Pantheon Art represented the actor in the creation of the collection called ‘Never Fear Truth’, which is the first public exposure of art by Johnny Depp. The art itself focused on ‘Friends and Heroes’ and included portraits of Heath Ledger, Tim Burton, River Phoenix, Marlon Brando and Elizabeth Taylor. The physical artwork was embellished and animated in the creation of the NFTs, which are digital assets bought and sold using blockchain technology.
Launched to the actor’s Never Fear Truth community, the project is at the forefront of NFT culture, offerings fans and art collectors the opportunity to own original and unique pieces of work, with part of the proceeds being donated to charities.
Keystone Law’s commercial and intellectual property specialist Anthony Misquitta, art law partner Lisette Aguilar, and corporate partner Charles Frank advised Pantheon Art on a range of matters, including the contractual and intellectual property arrangements for the NFTs and the commercial participation agreements with the charities benefiting from the sale of the NFTs, as well as the contracts for the underlying physical art by Johnny Depp.
Barry Jones of Pantheon praised Keystone’s contribution:
“This launch was a complicated and fast-moving project which touched on many different areas of law – intellectual property, charity, lottery and commercial – on both sides of the Atlantic. Despite this complexity and all the late nights working with lawyers on the West Coast, the Keystone team showed an exceptional level of commitment and delivered their work with sustained good humour.”
Charles Frank said:
“The collection created by Johnny Depp with Pantheon is an exciting development for both fans and art collectors. NFTs are at the cutting edge of art and technology, and it was a pleasure to advise Pantheon, working with my highly experienced colleagues to bring the innovative NFT project to the market.”