The GaryVee Audio Experience Why Your Business Will Need an NFT Strategy | CNN Interview
May 13, 2021
Dive into the fascinating world of NFTs as they reshape business and society. Discover how smart contracts elevate legitimacy and the necessity of an NFT strategy by 2025. Explore creative examples, like pizza shops using NFTs for customer engagement. Hear about the potential for artists in talent representation, cutting out the middleman, and the long-term thinking needed in this evolving landscape. It's a compelling conversation on how digital assets can transform industries and community dynamics.
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Past Skepticism Parallels NFT Resistance
- Gary Vaynerchuk recalls facing skepticism when he first advocated for online wine sales and using social media for business.
- He compares this to the current skepticism surrounding NFTs, highlighting his belief in their transformative potential.
Smart Contracts: The Real NFT Value
- NFTs aren't just about art; the underlying smart contracts hold the true power.
- These contracts enable functionalities like royalties, discounts, and access, similar to a ticket or credit card.
Practical NFT Applications for Businesses
- Businesses can use NFTs to offer memberships, discounts, or other perks.
- This provides value to customers while creating a new revenue stream through resales and royalties.