Bankless The Current State of the NFT Market with Garyvee
Oct 5, 2022
Gary Vaynerchuk, a serial entrepreneur and creator of the VeeFriends NFT project, dives into the current landscape of NFTs. He discusses the evolution from a speculative bubble to a sustainable market, emphasizing the importance of community engagement. Gary teases exciting new initiatives for VeeFriends, including collaborations with major retailers. He also highlights how big companies like Disney are navigating the NFT space, and shares valuable advice for budding NFT projects on resilience and meaningful experiences.
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Uber Receipt
- Gary Vee showed receipts from Uber thanking his brother for being their first NYC rider.
- This demonstrates his early involvement in tech and ability to spot opportunities.
NFT Project Utility
- Focus on providing value and utility in NFT projects.
- Think like established businesses such as Amex or Live Nation when designing utilities.
Community Value
- Community enthusiasm wanes when value diminishes, impacting project support.
- Operators must adapt to shifting market dynamics and rebuild momentum.