Garyvee launched his first NFT collection for fans, collectors, investors and flippers. Gary will likely make over $100 million from this launch – but is it a good investment for buyers?
In this video I take a deep dive into the valuation behind Gary Vee’s “Veefriends”. First we look at what this collection actually offers, because it’s a mix of actual goods and services with objective cash value, as well as more abstract “collector” aspects. Then I go point by point to show how I would value this NFT, including a comparable analysis through other NFT sales, and whether I think this could be a 10x investment opportunity.
Now, whether you love or hate Gary Vee we have to admit that this is a milestone moment for NFTs and crypto in general. Yes the Beeple auction that went for $69 million was a bigger moment but bids were really only coming from a very small and very wealthy group of people. Gary’s NFTs are being sold at a much reasonable price, with some starting as low as 3 eth and slowly decreasing through a Dutch Auction format that goes down to a floor of .5 eth, which is about $1,700 today.
Not only that, but I’d say probably 99% of his audience has not owned Ethereum until this moment, so this auction could be the first NFT to reach a more mainstream audience at this scale.
In this video I draw from my experience from when I was a licensed stock analyst and advisor to hedge funds that were trying to understand digital economies.
Please keep in mind that I’m not offering any financial advice, and that you should do your own research before buying any NFTs.
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Resources to learn more about NFTs:
0:00 Gary says hi
2:14 what are veefriends?
4:34 the most important factor in this valuation
08:09 Veefriends value as a collectible
09:03 the value of the Veefriends community
10:28 how to value the conference and other items
11:54 back-of-the-envelope assumptions
12:16 how much appreciation should you expect?