NFT
Famed entrepreneur Gary Vaynerchuck – also known as Gary Vee – has been a longtime advocate and collector of nonfungible tokens (NFTs).
In May 2021, Vaynerchuck announced the launch of its VeeFriends NFT Collection, which consisted of 10,255 unique tokens to give holders access to exclusive events.
Shortly after the launch of the VeeFriends collection, Vaynerchuck demonstrated the potential behind NFT tickets at VeeCon 2022 – a Web3-focused conference built around NFTs, pop culture, entrepreneurship and marketing. Attendees at VeeCon 2022 were required to hold at least one VeeFriend Series 1 NFT to access the event.
Building on the success of this model, Vaynerchuck moved forward with NFT-based tickets to VeeCon 2023, held May 18-20 in Indianapolis, Indiana. The event organizers told Cointelegraph that VeeCon 2023 attracted nearly 5,000 attendees, many of whom were VeeFriend NFT holders.
“I think ticketing will be an important point for NFTs. I want to be at the forefront of this,” Vaynerchuck told Cointelegraph.
Vaynerchuck delved into the potential behind NFT tickets, his thoughts on cryptocurrency and what to expect from VeeCon 2024 during an exclusive interview with Cointelegraph at VeeCon 2023.
Cointelegraph interviews Gary Vee at VeeCon 2023. Photo credit: Deanna Wursta
Cointelegraph: Why is VeeCon important to the Web3 community?
Gary Vaynerchuck: VeeCon is an incredibly important conference because it’s a place where people can come together in a human way rather than digitally. I think people need this connection, and conferences are a great way to expand people’s ideas and relationships.
CT: Why did you choose to implement NFT tickets for VeeCon 2023?
GF: Ticketing will be a huge use case for NFTs. I think tickets are collectibles by nature. For example, if you were to look at how many tickets are being bought on eBay right now, you might be surprised. People like memories and sticking to certain things, so I think ticket sales are going to play a big role [use] case for NFTs. I want to be at the forefront of this.
CT: What can we expect for VeeCon 2024?
GF: We will continue to expand this pop culture business conference based on innovation, marketing and motivation. We will continue to learn from what we have done in recent years and hopefully continue to bring positive and practical optimism. I also don’t think VeeCon 2024 will be held in Indianapolis again, as I like the idea of moving the conference to new cities.
Gary Vee on stage at VeeCon 2023. Source: VeeCon
CT: When did you start getting interested in the crypto and blockchain space?
GF: I started to get interested in 2016 when I saw some interesting NFT projects like CryptoKitties that intrigued me. In January 2020 I started to get really excited about NFTs.
CT: What do you think about cryptocurrency? Do you have crypto?
GF: I actually own very little cryptocurrency as almost everything I own is NFTs. I am more of a collector at heart than a financier. I don’t get excited about finances so I generally don’t own a lot of currencies. I’m more of a baseball card collector and an art collector, which is what crypto represents to me.
CT: What excites you most about blockchain as a technology?
GF: The idea that the technology is completely decentralized. I don’t think many people understand the concept of other people owning their data, so I think blockchain is going to be a big deal in the future.
CT: What are your thoughts on the current NFT market?
GF: The NFT market has fallen because there has been too much greed. People have been day trading, short term thinking and there was no real affinity with actual NFT collections.
It takes time to get people to care. Conferences like VeeCon allow me to get people to care about the VeeFriend characters and this collection, which is why this event really matters.
CT: What do you think of the metaverse?
GF: In the long run, the metaverse excites me. But we’re not there yet.
CT: Do you use a crypto wallet to store your NFTs?
GF: I use hardware wallets because I have a very substantial NFT collection and I want to ensure maximum security. I am also more of a custodial man and feel that no one should have access to my cum sentence.
CT: Any final thoughts?
GF: People like to talk about patience and being passionate about things, and being in something for the long haul. Then a month later they wake up and start crying.
The VeeFriends brand is a 20-year marathon. If people don’t understand this, that’s okay. But the question then becomes: are you really in this, or are you in it for the short-term money or clout? Is this a fad for you, or is it real life? To me, VeeFriends’ brand and vision is extremely realistic and long-term.