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{"id":34084,"date":"2023-06-03T21:36:26","date_gmt":"2023-06-03T21:36:26","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/03\/gary-vaynerchuk-expects-nfts-to-expand-beyond-digital-collectibles-long-term\/"},"modified":"2023-06-03T21:36:27","modified_gmt":"2023-06-03T21:36:27","slug":"gary-vaynerchuk-expects-nfts-to-expand-beyond-digital-collectibles-long-term","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/03\/gary-vaynerchuk-expects-nfts-to-expand-beyond-digital-collectibles-long-term\/","title":{"rendered":"Gary Vaynerchuk expects NFTs to expand beyond digital collectibles long term"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/03\/gary-vee-nfts-collectibles\/<\/a><\/br>
\nGary Vaynerchuk expects NFTs to expand beyond digital collectibles long term<\/br>
\n2023-06-03 21:36:26<\/br><\/p>\n

\n

Welcome back to Chain Reaction<\/a>, a podcast that unpacks and dives deep into the latest trends, drama and news with some of the biggest names in crypto breaking things down block by block for the crypto curious.<\/p>\n

For this week\u2019s episode<\/a>, Jacquelyn<\/a> interviewed Gary Vaynerchuk, better known as Gary Vee<\/a>. He is the chairman of VaynerX and CEO of VaynerMedia and NFT collection VeeFriends.<\/p>\n

The inspiration behind VeeFriends began between 2018 and 2019 when Vaynerchuk originally wanted to start a line of desktop toys for \u201cpositive reinforcement.\u201d The idea derived from the thousands of direct messages he receives monthly from people saying how they dislike their jobs.<\/p>\n

\u201cOne day after reading like five or six of them and going to the laboratory in my office I walked past like 10 desks,\u201d Vaynerchuk said. \u201cEvery one of the desks I walked by \u2014 my employee had little Simpson figures, little Marvel figures, little Marvel figures, little anime figures.\u201d<\/p>\n

So originally he was going to launch a toy line, but COVID-19 happened and the NFT boom began, which was where Vaynerchuk merged his plan through the digital asset sector. \u201cI did have a big audience \u2026 but I focused on real life utility,\u201d Vaynerchuk said. \u201cAt first I thought I was building Disney, now I think I\u2019m building Sesame Street \u2026 I want to create a universe, and I thought the technology of NFTs was an incredibly fun way to start that.\u201d<\/p>\n

The future of NFTs and IP <\/strong><\/p>\n

While some major NFT collections like Pudgy Penguins<\/a> and Bored Ape Yacht Club<\/a> are expanding their intellectual property beyond the digital world in areas like toys, apparel and more, Vaynerchuk doesn\u2019t think that move is the right one for every project. \u201cI don\u2019t think everyone is capable of that, you have to be self aware of what you\u2019re good at or not but it is something everyone should consider because it provides a lot more opportunities.\u201d<\/p>\n

As for greater mainstream adoption, Vaynerchuk doesn\u2019t think digital collectibles are going to be the biggest route forward for NFTs growth. \u201cI think it\u2019s going to be ticketing, contracts, title insurance, things like that.\u201d<\/p>\n

The internet used to be referred to as the \u201cinformation superhighway\u201d 30 years ago because it was seen as a place like a library for people to do research, Vaynerchuk said. \u201cToday, we know the internet for a lot more.\u201d<\/p>\n

In a similar wave, Vaynerchuk sees NFT collectibles as a part of the ecosystem, but believes in 20 years, when people hear the term NFT, \u201cthey\u2019re not going to default to thinking it\u2019s a collectible, they\u2019re going to see it more broadly.\u201d<\/p>\n

We also dove into a handful of topics surrounding the NFT ecosystem today and its future, mainstream adoption and Vaynerchuk\u2019s advice for other projects.<\/p>\n

For additional context, Vaynerchuk is a five-time New York Times bestselling author and previously created Wine Library, one of the first e-commerce platforms for alcohol in the early 2000s. In 2009, he co-founded VaynerMedia with his younger brother AJ and fast forward today the company services clients like PepsiCo, GE, Johnson & Johnson, Chase and others.<\/p>\n

He is a \u201cdie hard\u201d New York Jets fan (and plans to buy the team one day), as well as an investor in a handful of major companies like Twitter, Venmo and Facebook \u2014 which we talk about in the episode as well.<\/p>\n

Chain Reaction comes out every other Thursday, so be sure to subscribe to us on Apple Podcasts,<\/a> Spotify<\/a> or your favorite pod platform to keep up with the latest in web3 and crypto.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/06\/03\/gary-vee-nfts-collectibles\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/03\/gary-vee-nfts-collectibles\/ Gary Vaynerchuk expects NFTs to expand beyond digital collectibles long term 2023-06-03 21:36:26 Welcome back to Chain Reaction, a podcast that unpacks and dives deep into the latest trends, drama and news with some of the biggest names in crypto breaking things down block by block for the crypto curious. For this week\u2019s episode, […]<\/p>\n","protected":false},"author":1,"featured_media":34085,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-34084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nGary Vaynerchuk expects NFTs to expand beyond digital collectibles long term - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/03\/gary-vaynerchuk-expects-nfts-to-expand-beyond-digital-collectibles-long-term\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gary Vaynerchuk expects NFTs to expand beyond digital collectibles long term - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/06\/03\/gary-vee-nfts-collectibles\/ Gary Vaynerchuk expects NFTs to expand beyond digital collectibles long term 2023-06-03 21:36:26 Welcome back to Chain Reaction, a podcast that unpacks and dives deep into the latest trends, drama and news with some of the biggest names in crypto breaking things down block by block for the crypto curious. 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