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No One Is Paying Attention To What's Really Going On With NFTs | Gary Vaynerchuk

NFTs took the crypto world by storm in 2021 with some jaw-dropping sales…one of the most notable being Beeple’s “Everydays: The First 5000 Days” selling for 38,525 ETH, which at the time, was 69.3 Million Dollars in March of 2021. The NFT crazed attracted Hollywood celebrities, music artists, social media creators, as the technology was predicted to transform the relationship between entertainers and fans. But in addition to celebrities and entertainers, NFTs also attracted scammers, creating an unfortunate reputation for itself as a means of making a quick buck without providing much utility. Since the start of 2022, NFTs are down 97%, causing many pundits and analysts to raise the question, ‘are NFTs dead?’. Social Media and Business magnate Gary Vaynerchuk, better known as GaryVee, went head first into NFTs, creating one of the more successful collections, VeeFriends, which brings to life his ambitions of building a community around his creative and business passions using NFT technology and their smart contract capabilities. By owning a VeeFriend NFT, you immediately become part of the VeeFriends community and get access to VeeCon. As a guest on the Bankless podcast, Gary Vee discussed the state of NFTs and why it is way too early to call it dead. Gary was an early investor in many heavy hitter technologies such as Facebook, Twitter, Tumblr, Venmo, Snapchat, Coinbase, and Uber, and he states, most of these companies did not show promise in the first 24 months, so to write off NFTs, it's just way too early. Gary stands behind the technology and believes in due time, those who understand it will reap huge benefits.
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Watch the full unedited interview here ⬇ [Credits] 🙏
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🎵BACKGROUND MUSIC licensed through AudioJungle & Epidemic Sound
🎥FOOTAGE licensed through VideoBlocks and Filmpac, except parts about the topic that have been used under fair use.
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Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by the copyright statute that might otherwise be infringing.

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