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The truth about Garyvee's NFT (Veefriends investor guide)

The truth about Garyvee's NFT (Veefriends investor guide)



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.

Follow me on twitter: https://twitter.com/GiancarloChaux

Be my friend on BitClout: https://bitclout.com/u/giancarlo_

Resources to learn more about NFTs:

https://a16z.com/2021/04/02/nfts-readings-resources/
https://opensea.io/blog/guides/non-fungible-tokens/

0:00 Gary says hi
0:15 intro
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?

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20 thoughts on “The truth about Garyvee's NFT (Veefriends investor guide)

  1. Great video! How many Veefriends did you pick up?

  2. Vwry interesting channel! Definitely look forward to seeing where you go from now on. Can you also tell your opinion on veve and their nfts? Thanks and good luck!

  3. I came for the great breakdown… But I stayed for the awesome graphics.

  4. god video- i believe in gary v tho- he will winI

  5. You need a bigger audience! ❤️

  6. It’s just a scam! Obscuring the buying process and value, making it seem like something special. I mean you are paying thousands of dollars for a facetime, with the sales pitch of do this and become rich? Jesus christ…..What a load of horse shit, Tai Lopez level shit

  7. Thanks for the video! I hear a lot of people talking about 'smart contracts' as part or underlying benefit of the NFT (e.g. admission to VeeCon). However, a contract for me is something that is legally enforceable. I couldn't sue Gary in case he doesn't hold up his end of the bargain (e.g., for some reason, he doesn't do VeeCon). So that's kind of the issue that I see with NFTs as smart contracts. They are just promises. Now I trust Gary and no way he doesn't hold up his end of the bargain due to reputation reasons. But other NFT issuers could just promise something tangible as part of the NFT and never actually deliver. Or am I getting this the wrong way?

  8. 12:55 I think the VeeFriends access to VeeCon and the wallet that can prove you were there in a given year, if it becomes the all-time conference that Gary is wanting to host, then that becomes a long-term social flex.

    I think there are a lot of significant downsides to owning a VeeFriend, which is the security of the Ethereum network, the volatility of the crypto market that could impact Gary’s funds to host this conference, and the real-world events that can negatively impact the realization of this event.

    I personally have a very negative view on the economy itself the next 2 years and think things will be rough.

    You showed up on the top of my YouTube Home page recommendations and I watched your video all the way through. At first slight of your thumbnail I thought you were going to be critical, but had a slight suspicion you were going to give a balanced view on it all, which was what you delivered at the end. Great work. If you continue making videos like this on other topics I believe you can make it very far.

  9. Loved the way you broke down the topic!
    I am a noob in this topic and you kept this really simple and logical. #MorePowerToYou

  10. Very well explained, I think you should check out Blockverse on NFFT ‘

  11. I did ask a question like that in the Discord; what is the long term value of the VeeFriends (after the 3 year VeeCon access is used up) and a moderator responded by basically saying IP, and also that the smart contracts also have the ability to update. I thought that was interesting and could provide a lot more value past the 3 years of conference admission.

  12. Great detailed video! I see more subscribers in your future😉

  13. Wildly important to consider the upside of simply holding the ETH. Great vid.

  14. Great video, good luck with your channel

  15. Could u help me understand how gas fees could screw me over in this ?

  16. Great video with surprisingly small amount of views. Thank you for detailed analysis, a few very good thoughts and a very balanced opinion. Subscribed to your channel!
    Please take a look on Sorare project, a few soccer stars, Ubisoft and Gary Vee are among investors. Wonder your opinion on this one.

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