It is the NFT brainchild of Gary Vee. Most of you will know who Gary Vee is. If you don’t, all you need to know is that he’s one of the most respected entrepreneurs in the world. 

Gary has been an advocate of the NFT and crypto space since around 2017. But does he really know his stuff when it comes to NFTs? Let’s take a closer look at 'Veefriends' to find out.

What do you need to know before reading?

Gary Vee is a heavily respected serial entrepreneur. 

NFTs (or non-fungible tokens) are blockchain-based tokens that offer proof of ownership of digital and real-world assets. If you find the concept of NFTs confusing, click here to find out more about what NFTs are and how they work.

Why should I care about Gary Vee's project?

What’s interesting to note is that Gary Vee wasn't born into money. Instead, he made his fortune by being an early adopter of Web 2.0 and e-commerce, which helped him take his father's company from a local liquor store to a $60 million business!

He also had multiple other notable successes, such as blowing up Vaynermedia, becoming an angel investor for Facebook, Twitter, Google, Pepsico, and later VeeFriends. He’s the people's entrepreneur.

Due to his success, and the fact that he was one of the first people to use E-commerce and the internet to scale businesses, Gary has gained quite the reputation. However, he is not without critics. Many people believe he promotes the ‘hustle’ culture too much, and some argue he’s more of an ‘influencer’ than an entrepreneur. 

Regardless, he’s someone to keep an eye out for. So, let’s look at whether Veefriends is one to watch or another celebrity cash-grab? 

What is VeeFriends?

VeeFriends is an NFT collection made up of 10,255 ‘doodles.’ The collection is based on 268 unique designs that were hand-drawn by Gary Vee.

The idea behind these designs, and the collection as a whole, is that each doodle embodies different combinations of the critical traits that, according to Gary Vee, all entrepreneurs should hold. These include: Grateful Gar, Patient Panda, Boss Bobcat, Gratitude Gorilla, Reliable Rat, and Ambitious Angel.

Let’s be honest, you wouldn’t really use these as your profile picture, and they don’t compare to other NFTs in terms of design. But they don’t need to. The magic in these NFTs is in their use case. 

So, what is the use case?

The value you attain from ‘Veefriends’ is dependent on the doodle you acquire. With that being said, every ‘VeeFriends’ holder is granted access to attend ‘Veecon’ (a yearly event for markets, creators, and entrepreneurs all around the world). 

There are three main kinds of Veefriends: Admission, Gift and Access. 

Admission:

There are 9400 admission tokens (out of 10,255 in total), so most of the collection are admission tokens). The main benefits include access to ‘Veecon’ and the VeeFriends community. Right now, it’s mainly admission VeeFriends that are available on the secondary market. By buying one, you’re really banking on Veecon and Gary Vee’s vision to be worth the floor price.

Gift:

Then there are gift VeeFriends called ‘Gift Goats.’ There are 555 gift tokens that come with airdrops of random gifts for the next three years, such as price drops. There’s even some speculation out there that a Tesla might be airdropped! So if you get this, you’re banking on the fact that Veecon, Gary Vee and your gifts are worth the floor price. 

Access:

Finally, you have 300 access tokens. Holders of these NFTs will gain access to unique experiences with Gary Vee himself. 210 grant virtual access, and 90 grant 1-on-1 in-person access. Out of the 210 NFTs that grant virtual access, 165 are group access, meaning you share the experience with individuals with similar tokens.

Think about it; it’s kind of like Jay Z giving up-and-coming musicians access to an event where all the top musicians will be. And, for the lucky ones, access to 1-on-1 time with him. So it’s a crazy opportunity that could potentially be life-changing for some individuals. However, this is also where the problem comes in. God forbid Gary Vee ends up overworking himself or goes missing in Thailand, then the NFT’s use case goes—just like that! Jokes aside, it’s a critical thought to bear in mind. 

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Why are people buying Veefriend?

I’m sure you see the value by now but to summarise, there are two main reasons:

It’s Gary Vee’s NFT collection, so people are banking on his mind and vision to make this project a success.

access to Veecon and access to him. Think about it, if you’re an entrepreneur, Veecon would be the ideal networking event, and a face-time call with Garyvee could be life-changing.  

It’s clear to see the pros here; however, it’s also clear to see why people are sceptical. You’re relying on an event that hasn’t yet happened and on one man’s vision. And what is that vision, you may ask? It’s still not really out there; Gary has said Veefriends is a 40-year project. But note that rewards are only available for three years.

How do you buy a Veefriend?

You can buy a ‘Veefriend’ on the Ethereum network on platforms such as Open Sea (if you’re confused about what OpenSea is or how to use it, check out this article). 

If you feel like you’re too late to the party, don’t worry; there’s a season 2 coming out! Keep reading to find out how you can get on the ‘friendslist.’

What is series two of Veefriends? 

Series 2 of Veefriends is a chance for those who missed out on v1 to get involved.

This collection will include 15 new characters (nothing is known about the 15 new characters; however, an educated guess is it will follow the same entrepreneur trait theme) and is expected to launch in April 2022. 

What do we know about it so far?

It will be priced under $1000 USD in ETH.

It’s expected to launch in April 2022.

You can get on the ‘friendslist’ by having book game tokens.

So what are these book tokens?

A book game token is the only way to get a series 2 ‘Veefriends’. These are separate entities from ‘Veefriends’.

Book games are 16 drawn artworks encased in one of the five VeeFriends rarities. These are Bubblegum, Lava, Diamond, Gold, and Hologram. Each token artwork is framed in 1 of 15 randomly generated frames. 

The combination of 16 original artworks, 5 spectacular rarities, and 15 different frames creates a possible combination of 1,200 different book game token rarity types.  These give you the chance to buy a series of two Veefriends. Initially, you could only acquire these tokens by buying Gary Vee's book ‘Twelve and a Half,’ 12 times. 

However, you can now buy a Book game token on the secondary market. Once you have these tokens, there are two ways you can use them to acquire a Veefriend:

1. By burning five frames, depending on the combination, you may be eligible to get on the friend list.
2. By being randomly selected through a raffle (you have to own a book game ticket for this).

Hence, owning a book game token doesn’t 100% mean you will get a Veefriend, it simply means you have the chance to. 

So what do you think?

VeeFriends is an exciting project. On the one hand, its founder is one of the biggest trendsetters and also one of the most influential people in the NFT space. On the other hand, though, that’s exactly the problem. It’s an NFT project that, without Gary Vee, is worthless. Imagine if Gary Vee decides to up and leave. Will the NFT be worth its current 18 ETH? 

Regardless, it’s a project to keep an eye on, and it is a much more refreshing celebrity project than others (cough cough Lana Rhoades).

Let us know in the comments what other NFT projects we should delve into!

Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.