Ticketing will be a big use for NFTs – Gary Vee

by James · May 24, 2023

Famed entrepreneur Gary Vaynerchuck – also known as Gary Vee – is a long-time supporter and collector of non-fungible tokens (NFTs).

In May 2021, Vaynerchuck announced the launch of his VeeFriends NFT collection, which consisted of 10,255 unique tokens to give holders access to exclusive events.

Shortly after launching the VeeFriends collection, Vaynerchuck demonstrated the potential behind NFT tickets at VeeCon 2022 – a Web3-focused conference built around NFTs, pop culture, entrepreneurship and marketing. VeeCon 2022 attendees had to hold at least one VeeFriend Series 1 NFT to gain access to the event.

Based on the success of this model, Vaynerchuck moved forward with NFT-based tickets for VeeCon 2023, which was held from 18-20 May in Indianapolis, Indiana. Organizers told Cointelegraph that VeeCon 2023 attracted nearly 5,000 attendees, many of whom were VeeFriend NFT holders.

“I think ticketing will be an important issue for NFTs. I want to be at the forefront of this,” Vaynerchuck told Cointelegraph.

Vaynerchuck elaborated on the potential behind NFT tickets, his thoughts on cryptocurrency and what to expect from VeeCon 2024 during an exclusive interview with Cointelegraph at VeeCon 2023.

Cointelegraph interviews Gary Vee at VeeCon 2023. Photo credit: Deanna Wursta

Cointelegraph: Why is VeeCon important to the Web3 community?

Gary Vaynerchuck: VeeCon is an incredibly important conference because it’s a place where people can come together in a human way instead of digitally. I think people need this connection, and conferences are a great way to expand people’s ideas and relationships.

CT: Why did you choose to implement NFT tickets for VeeCon 2023?

GV: Ticket sales will be a major application area for NFTs. I think tickets are collectibles by nature. For example, if you were to go on eBay now and look at how many tickets are being bought, you might be surprised. People love memories and holding on to certain things, and that’s why I think ticket sales will be important [use] case for NFTs. I want to be at the forefront of this.

CT: What can we expect for VeeCon 2024?

GV: We will continue to grow this pop culture business conference based on innovation, marketing and motivation. We will continue to learn from what we did in previous years and hopefully continue to bring positive and practical optimism. Also, I don’t think VeeCon 2024 will be held in Indianapolis again since I like the idea of moving the conference to new cities.

Gary Vee on stage at VeeCon 2023. Source: VeeCon

CT: When did you become interested in the crypto and blockchain space?

GV: I started getting interested in 2016, when I saw some interesting NFT projects like CryptoKitties, which intrigued me. In January 2020, I started getting really excited about NFTs.

CT: What are your thoughts on cryptocurrency? Do you own any crypto?

GV: I actually own very little cryptocurrency as almost all I own are NFTs. I’m more of a rote collector than a financier. I don’t get excited about finance, so I don’t own a lot of currency in general. I’m more of a baseball card collector and an art collector, which is what crypto represents to me.

CT: What excites you most about blockchain as a technology?

GV: The idea that the technology is completely decentralized. I don’t think many people understand the concept of others owning their data, so I think blockchain will be a big thing in the future.

CT: What are your thoughts on the current NFT market?

GV: The NFT market has fallen because there has been too much greed. People have been day trading, short term thinking and there has been no real connection to actual NFT collections.

It takes time to get people to care about something. Conferences like VeeCon allow me to get people to care about the VeeFriend characters and this collection, and that’s why this event really matters.

CT: What are your thoughts on the metaverse?

GV: Long term, the metaverse excites me. But we’re not there yet.

CT: Do you use a crypto wallet to store your NFTs?

GV: I use hardware wallets as I have a very significant NFT collection and I want to ensure maximum security. I’m also more of a custodian and believe that no one should have access to my seed phrase.

CT: Any final thoughts?

GV: People love to talk about patience and being passionate about things and being in something for the long haul. Then they wake up a month later and start crying.

The VeeFriends brand is a 20-year marathon. If people don’t understand this, that’s okay. But the question then becomes, are you actually in this, or are you in it for short-term money or influence? Is this a fad to you, or is it reality? For me, the VeeFriends brand and vision is extremely real-life and long-term.