The vast majority of today’s NFT projects focus on PFP or art objects. This is consistent with the high demand in the market. However, influencer, businessman, and investor Gary Vaynerchuk revolutionized the NFT market in May 2021 with his VeeFriends collection.
The founder prioritizes community, real communication through a large-scale VeeCon conference, and the opportunity to personally connect with holders. This has led to the fact that this collection is now one of the top NFT projects in terms of sales exceeding $107 million. Impressive, isn’t it?
In addition to the full-length review article, also watch our interesting video review:
VeeFriends Official Links
- Official site https://veefriends.com
- Twitter @veefriends – over 259k followers,
- Instagram @veefriends – over 265k subscribers,
- TikTok @veefriends – over 196k subscribers,
- YouTube @veefriends – over 12k subscribers.
What is VeeFriends?
VeeFriends is the name of NFT influencer Gary Vaynerchuk‘s collection which is designed to build a community with unique tokens. NFTs are characters that have human traits, such as ply of character and cultural predisposition. In this case, it is not so much about works of art as it is about intellectual property, community, and heritage.
It will be 45 years since the creation of this brand. Imagine giant franchises like Pokémon and Star Wars. Except that Vee Friends will be based on positive character traits, it will be human kindness, etc., changing the human race for the better. This is a legacy. This is how the project is globally viewed by its founder GaryVee
The collection is located on the Ethereum blockchain. It has the ERC-721 standard, one of the most common NFT formats. A notable features of this collection is that each NFT has a message and value with metadata for the chain through the whole collection. That is, NFTs contain additional information that allows you to get a link to Gary and, depending on the type of token, receive an invitation to an event or a valuable gift.
The VeeFriends Collection was released on May 11, 2021. It includes 268 characters and 10,255 tokens. Some of the characters were drawn by Gary Vaynerchuk himself. And 1,242 were reserved by Gary for his collection.
VeeFriends in numbers
- The project is ranked 25th among the best collections in terms of sales of all time on the largest NFT marketplace OpenSea.
- The volume of secondary sales exceeded 66k ETH (over $107 million at the moment).
- At Christie’s auction, the doodles used to create the collection were sold for $1.2 million. Of these, the “Empathetic Elephant” image fetched the highest price of $412,500.
- Initial sales were conducted in a Dutch auction format, where different categories had different starting prices. For example, the cheapest tokens cost 2.5 ETH and then the price decreased to 0.5 ETH.
- The floor price at the moment is 1.9 ETH (about $3k).
- A total of 5.1k unique holders (50%), that is, each holder owns nearly two tokens from the collection.
- Only about 2% of the collection is for sale, of which most are quoted in the 1.9-8 ETH price range. This shows that the vast majority see the project as a great investment opportunity.
Data (including exchange rates) are given at the time of publication (September 15, 2023)
Types of VeeFriends NFTs
There are 10,255 tokens in the VeeFriends collection. And all of them are divided into three main types, each of which has its own application:
1.Gift NFTs, of which there are 555 pieces. Gift Tokens unlock privileges granted by Gary that can be used to exchange gifts.
2. Admission NFTs, of which there are 9,400 pieces. Admission tokens are divided into main and limited levels. Each has a different rarity with the possibility of collecting.
3. Access NFTs that are divided into several groups, depending on their access level:
- Individual access tokens provide the opportunity to meet Gary in person. Holders of these tokens have unlimited access to any of Gary’s public appearances anywhere in the world. To activate this token after you purchase it, you must go through a verification process. There are a total of 108 of these tokens.
- Group access tokens whose owners can spend time with Gary as part of a group. There are a total of 165 tokens.
- The tokens with access to competitions give the owner the right to compete with Gary in such games as bowling, basketball, checkers, ping pong, tennis, etc. There are 22 of them in all.
- Scholarship access tokens give holders the opportunity to receive coaching from Gary personally, or from his professional network. There are 5 tokens in all.
Who created VeeFriends?
The VeeFriends collection was created by Gary Vaynerchuk (GaryVee), a Belarusian immigrant, philanthropist, entrepreneur, influencer, and generally well-known personality in the United States.
Gary Vee is:
- Founder and Chairman of media holding VaynerX,
- CEO of VinerMedia agency and VaynerSport agency,
- Founder of the digital media company Gallery Media Group,
- Founder of digital media brand ONE37pm,
- Four-time New York Times bestselling author,
- Initiator of the Gary Vee 004 series of limited edition sneakers (in collaboration with K-Swis).
The VeeFriends NFT Collection Idea
GaryVee launched VeeFriends to build a community around his creative and business passions by implementing NFT technologies. A VeeFriend NFT owner immediately becomes part of the VeeFriends community and gains access to the largest NFT conference on the market, VeeCon, which has gone global for crypto enthusiasts from all over the world.
The event is all about innovation, marketing, competition, ideas, creativity and business. Gary focuses on providing a better experience to the community by giving an informational resource to all NFT holders.
If you own two VeeFriends tokens, you have two tickets to VeeCon. The first VeeCon was held in Minneapolis on May 19-22, 2022. And it was a truly global experience. The event featured Snoop Dogg, Steve Aoki, Logan Paul, Mila Kunis, Eva Longoria, Spike Lee, Wyclef Jean and Miguel.
The energy is good. I think this is informative for many people. It’s nice to see such a collective gathering of so many wonderful people. It’s always nice to be able to get together and talk about what’s going on, especially in the market we have right now. It is good for people to be united. Here’s what Isaac Wright (aka @DrifterShoots), a famous NFT artist and influencer, said about VeeCon
Why is the VeeFriends NFT collection popular?
The popularity and high demand for the collection can be explain by the following factors:
- VeeFriends is not a speculative collection, meaning that any holder gets a guaranteed utility at once, the value of which will only grow over the years.
- By purchasing an NFT, the user becomes part of the community and gets access to the collection’s creator. The metadata embedded in an NFT can be a means of connecting the creator to the user.
- The user gets access to an exclusive real-world global VeeCon event. One NFT guarantees participation in the event for three years.
- The founder of the project is Gary Vaynerchuk, a very famous person, influencer and opinion leader. His name is a brand that greatly increases the importance and attractiveness of any project.
This project had a unique element that other projects did not have. And you can’t even imagine how I feel right now that the market has agreed to this. Gary Vaynerchuk says
- Among the owners of the collection you can find many famous personalities and big names.
- An actively developing project ecosystem, which also gives various utilities for holders. For example, all holders also became owners of derivative Mini drops NFTs and VeeFriends Series 2.
According to the official website, the collection keeps the intrigue over short- and long-term plans. But no one really doubts the team’s development strategy. The development and scaling of the VeeFriends project amazes the community. The project aims to focus on integrating the real and digital worlds. The VeeCon organization alone is worth a lot.
In addition, today there are the following real projects and collaborations:
- Card game VeeFriends UNO,
- VeeFriends x MaryRuth’s Accountable Anteater multivitamin gummies,
- VeeFriends x Primitive products,
- A collection of clothes created in collaboration with the streetwear brand Staple,
- Empathy Elephant 2019 Cabernet Sauvignon wine collection created in collaboration with Empathy Wines; the wine label featured the VeeFriends character, Empathy Elephant,
- In August, 2023, Reebok and VeeFriends launch Aspiring Alpaca Classic Nylon sneaker collection
- And many other joint projects from the real world.
I’m going to create one of the most important intellectual property in the history of mankind, which will take over industries from cereal to video games. GarryVee shares his vision at VeeCon 2022
VeeFriends Ecosystem Projects
VeeFriends is actively developing as a large-scale ecosystem and today it includes:
- Veecon conference,
- VeeFriends Mini Drops,
- Book Games,
- VeeFriends Series 2.
The three-day VeeCon conference was first organized in 2022. It was held at the 239,501-square-foot U.S. Bank Stadium. The event is the real center of the VeeFriends universe, where only owners of tokens from the collection can enter. The first conference was held at an unprecedented scale, raising the bar for such events for the entire market. And it’s all a credit to founder Gary Vaynerchuk. Here’s a look at what it was like:
VeeFriends Mini drops NFT Collection
The Mini drops is a sub-collection of VeeFriends that NFT token holders of the main collection could receive. This collection also includes the Gift Goat NFTs which entitles you to receive exclusive gifts from Gary and his team. The collection is traded on OpenSea and has a trading volume of 100 ETH.
Book Games is a game based on Gary Vaynerchuk’s book, Twelve and a Half: Leveraging the Emotional Ingredients Necessary for Business Success. The gameplay part is related to the trading opportunities provided by Immutabe X. Also, the NFT of this game can be exchanged for a VeeCon ticket or an NFT from the VeeFriends ecosystem.
VeeFriends Series 2 NFT Collection
VeeFriends Series 2 is the second issue of the collection released in April 2022. This collection’s NFTs do not provide access to VeeCon, but they do provide additional benefits within the ecosystem. Holders of the Book Games NFTs and the first series of the VeeFriends collection were able to get NFTs of the second issue. The second issue of the main collection was also very successful, as the volume of secondary sales has already exceeded 30k ETH (more than $48 million at the current rate).
In February 2023, the team announced Burn Island, calling it “Our Future of NFT Burning & Rewards.” This volcanic island offers VeeFriends NFT holders the chance to unlock rare and valuable NFT collectibles, access to unique events, and physical or virtual rewards through its deflationary technology. By burning their NFTs on Burn Island, VeeFriends holders will embark on a journey to uncover a world of new possibilities. Burn Island is a unique deflationary platform that offers users the opportunity to access its exclusive rewards through a series of sequential events known as ‘Eruptions’. Each Eruption will have different BURN eligibility requirements for the rewards.
How much do VeeFriends cost?
In May 2021, initial sales were held in a Dutch auction format, where different categories had different starting prices. For example, the cheapest tokens cost 2.5 ETH and then the price decreased to 0.5 ETH. Now, of course, the cost is quite different.
To visualize the price dynamics, we made a slice of the average price for 1 NFT:
- In June 2021: 8 ETH,
- In October 2021: 12 ETH,
- In January 2022: 15 ETH,
- In March 2022: 19 ETH,
- In June 2022: 10 ETH,
- In September 2022: 7 ETH,
- In January 2023: 5.7 ETH,
- In June 2023: 2.4 ETH.
Now (September 2023) the floor price is 1.9 ETH. On average, the latest sales range from 1.9 to 10 ETH. And the total volume of secondary sales amounted to more than 66k ETH (about $107 million).
The most expensive sales of VeeFriends
The most expensive sales are led by the following NFTs from the VeeFriends collection:
- Empathy Elephant was sold on January 5, 2022 for 130 ETH ($492K at the time of sale),
- Podcast Panther was sold on March 4, 2022 for 120 ETH ($314K at the time of sale),
- Alert Ape was sold on August 8, 2021 for 105 ETH ($316K at the time of sale),
- Adaptable Alien was sold on August 8, 2021 for 100 ETH ($301K at the time of sale).
Where to buy VeeFriends?
Currently, Veefriends can only be purchased on the secondary market, on marketplaces such as:
How to buy VeeFriends?
- Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
- Next, find the official collection using the search bar on the marketplace,
- Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
- Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.
Should you invest in VeeFriends NFT collection?
At the moment, there are several reasons why you can treat the collection positively:
- Attending VeeCon is an opportunity to see the scale of the Web3 world in real life, make useful contacts and establish networking.
- NFT holders receive real benefits and utilities depending on the type of asset purchased.
- The name of Gary Vaynerchuk is a brand that greatly increases the significance and investment attractiveness of the project. This is confirmed by the volume of secondary sales, which to date has exceeded $93 million.
- A growing project ecosystem raises the entry threshold to the project and the value of the assets; that means that in future, due to the limit, the assets will increase in price.
This collection stands out first and foremost for its application, that is, access to an exclusive event that can help make useful business acquaintances and find like-minded people. Because of this, the collection has enormous potential.
But in any case, do your own in-depth analysis and research when investing in NFTs, and then make your own decision.
Opinion of NFTmetria
The VeeFriends collection was a revolution in the industry and succeeded through the exclusive use of NFTs. The market has responded very strongly: there were rabid sales, the community praised the project, and prominent celebrities were happy to participate in the development of VeeFriends.
This is the case when at first the founder’s star status added to the project’s popularity, respect and demand. And as it developed and grew impressively, the collection became a star in Gary Vaynerchuk’s vast empire. Judging by the scale, a great future awaits the project. Accordingly, the digital assets will also grow in price and be a great investment idea for most investors in the market.