Gary Vaynerchuk launches the first NFT collection, VeeFriends

Bob Coiney

May 6, 2021

NFTs are the new cool, and they are here to stay. From famous sportspeople and teams to popular digital artists and now entrepreneurs, everyone has dived headfirst into the NFTs pool. Gary Vaynerchuk, an entrepreneur and an early investor in Facebook, Coinbase, and Uber, has joined the crypto community by launching his first NFT collection, VeeFriends. 

Gary Vaynerchuk has been teasing his drawings for weeks on Twitter, creating hype before the launch of VeeFriends. VeeFriends is a series of 10,255 character tokens that people can purchase only using Ethereum. 

NFTs are a digital token that is immutable and will forever retain the art’s information, such as ownership. These tokens can be assigned to any unique item, artwork, or even sports trading cards. 

VeeFriends will include 10,255 NFTs that are assigned to the artwork by Gary Vaynerchuk. According to the entrepreneur, every token will consist of a smart contract and metadata that will allow him to interact with the buyers. He also plans on giving unique benefits to the NFT holders, such as a “VeeCon” that will be only open to the token holders giving exclusive access for three years. 

Gary will auction the tokens on a Dutch auction that will allow all investors to bid on the tokens without revealing other investors’ bids. He also mentioned that a portion of the revenue would be given to charity. Also, a token holder with five tokens will gain access to a scholarship from VaynerMedia CEO and his professional network.

NFTs, the token of the future

NFTs have seen an imminent rise in popularity in the last few months, partly because of the increase in the popularity of cryptocurrencies. Gary Vaynerchuk has always been interested in the crypto space and has invested in Coinbase, a crypto exchange in the past. He wanted to explore more and experiment with NFTs, which led him to create VeeFriends. 

“When I saw this macro human trend, the only way for me to help others understand it was to be a part of it,” Vaynerchuk said in a statement announcing his NFT plan. “I know that NFTs will be here for the rest of my life, and I will be actively consulting, investing, and advising in this space.”

This goes to prove that crypto space and NFTs have several applications and can be leveraged to earn profit and benefit society simultaneously.