fbpx
QQQ
+ 0.67
349.22
+ 0.19%
DIA
+ 1.31
340.67
+ 0.38%
SPY
+ 0.80
424.30
+ 0.19%
TLT
-0.56
144.06
-0.39%
GLD
+ 1.39
164.65
+ 0.84%

Gary Vee Talks NFT Collection Release, Value Of Smart Contracts

May 5, 2021 9:57 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Gary Vee Talks NFT Collection Release, Value Of Smart Contracts

Gary Vaynerchuk appeared Wednesday on CNBC's "Squawk Box" to discuss the release of his NFT project "VeeFriends."

The NFT collection aims to provide the industry with a blueprint on how to bring value using NFT technology.

The project is not just about offering collectible art: it's about smart contracts, he told CNBC.

The underlying contracts and the things that can be done with them offline are what make NFTs so valuable, he said. 

This will be the way that memberships and album launches, for example, take place in the future, he said.

See Also: Exclusive: Gary Vee On Sports Cards Investment Options, What's Ahead For NFTs

People will look at other people's public wallets to see each other's tokens the way that individuals look at other people's social media today, Vaynerchuk said.

"You are going to find it hard pressed for any business in the world to not issue an NFT for everything they do," he told CNBC, adding that it will make logical sense the same way that having a social media account and a website makes logical sense today.

NFTs will become collectible derivatives, assets and marketing material, he said. 

The NFT collection will be released Wednesday and become available for purchase via Dutch auction on VeeFriends.com. Individuals can purchase the NFTs using Ethereum (CRYPTO: ETH) via a digital wallet.

Photo by Silicon Prairie News from Flickr.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

'The Next Wave Of Innovation Will Be Driven By Crypto,' Andreessen Horowitz Launches $2.2B Crypto Fund

American venture capital firm Andreessen Horowitz has launched a $2.2 billion cryptocurrency investment fund. read more

Jay-Z's Record Label Sues Co-Founder For Trying To Sell First Album As NFT

Roc-A-Fella Records (RAF), co-founded by American rapper Jay-Z and music producer Damon Dash, is now suing the latter for attempting to sell Jay-Z’s debut album as an NFT. read more

Alibaba's Ant Says NFTs Aren't Cryptocurrencies As 16,000 Art Copies Get Sold Out In A Blink

Alibaba Group Holding Limited (NYSE: BABA)-backed Ant Group has sought to clarify that non-fungible tokens (NFTs) are not cryptocurrencies, according to a read more

Chinese Fintech Behemoth Alipay Now Sells NFTs

Alipay — the behemoth operating China's top digital payments mobile application — started selling non-fungible tokens (NFTs) representing artwork. read more