[UPDATE BELOW] We just received word that James Franco has put his art hat back on and will holding court at the New Museum this coming Saturday, along with Laurel Nakadate (whose provocative photography projects we truly love). The event is the launch of James Franco's limited edition switchblade, which was made in homage to his late friend and fellow actor Brad Renfro, who died in 2008 from a heroin overdose.

THE THING Quarterly is hosting this switchblade shindig at the New Museum, where you'll get to witness a performance, a discussion with Franco and Nakadate, and a screening of Franco's short film Brad Renfro Forever (which recently played at Franco's show Rebel at MoCA in Los Angeles).

The event, which will take place from 5:30 to 6:30 p.m., will also include a special guest: psychic Gemma Deller, who you may want to contact ahead of time to find out if you'll get in. We're told the event is "Open to the public," but "there's going to be a line up for it."

UPDATE: We're being told that the event is now RSVP only, and we'll be getting that RSVP info for you shortly and posting it here.