The rough majority of contemporary NFT projects focus on PFPs or art. This is in line with the high demand in the market. But influencer, businessman, investor Gary Vaynerchuk revolutionized the NFT market in May 2021 with the release of the VeeFriends collection.
The founder prioritizes the community, real communication through the large-scale VeeCon conference and the possibility of personal communication with holders. This move has resulted in this collection being one of the top NFT collections in terms of sales to date, surpassing the $93 million mark. Impressive, isn’t it?
VeeFriends Official Links
- Official site https://veefriends.com
- Twitter @veefriends – over 259k readers,
- 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 represent characters that have human traits such as personality, cultural predisposition. In this case, it is not so much about works of art, but rather 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 founder GaryVee sees this project globally.
The collection is hosted on the Ethereum network. It has the ERC-721 standard – one of the most common NFT formats. One of the highlights of this collection is that each NFT has a message and value with metadata for the chain in the entire collection. That is, the NFT contains additional information that allows you to get in touch with 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 1242 were reserved by Gary for his collection.
Vee Friends 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 59k ETH (over $93 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” drawing fetched the highest price, $412,500.
- Primary sales were conducted in a Dutch auction format, with different categories having different starting prices. For example, the cheapest tokens started at 2,5 ETH and went down to 0,5 ETH.
- The minimum price at the moment is 5.7 ETH.
- A total of 5.1k unique holders (50%), that is, each holder owns approximately two tokens from the collection.
- Only about 3% of the collection is for sale, most of which are quoted in the price range of 5.5–10 ETH. This shows that the vast majority see a great investment potential in the project.
Types of NFTs VeeFriends
There are 10255 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. Admissions NFTs, of which there are 9400 pieces. Input tokens are divided into main and limited levels. Each has a different collectible rarity.
3. NFT access, which are divided into several groups, depending on their access:
- Individual access tokens provide the opportunity to meet Gary in person. Holders of these tokens have unlimited access to any of Gary’s public performances anywhere in the world. To activate this token after purchasing it, you must go through the verification procedure. There are 108 of them in total
- Group access tokens, whose owners can spend time with Gary’s group. There are 165 of them in total.
- Tokens with access to competitions give the holder the right to compete with Gary in such games as bowling, basketball, checkers, ping-pong, tennis, etc. There are 22 of them in total.
- Scholarship access tokens give holders the opportunity to receive coaching from Gary in person, or from his professional network. There are 5 of them in total.
Who created VeeFriends?
The VeeFriends collection was created by a Belarusian immigrant, philanthropist, entrepreneur, influencer and generally well-known personality in the United States Gary Vaynerchuk (GaryVee).
- Founder and Chairman of media holding VaynerX,
- General Director of VinerMedia media agency, VaynerSport agency,
- Founder of the digital media company Gallery Media Group,
- Founder of digital media brand ONE37pm,
- Four-time New York Times bestselling author,
- Collaborated with K-Swis to release the limited-edition Gary Vee 004 running shoe.
His career spans marketing, investing, numerous start-ups and retail. We also did a detailed review of the personality and career of Gary Vaynerchuk.
VeeFriends Collection Idea
GaryVee created VeeFriends to build a community around their creative and business passions by introducing NFT technology. The owner of VeeFriend NFT immediately becomes part of the VeeFriends community and gets access to the largest conference on the NFT market, VeeCon, which has become a global event for crypto enthusiasts from all over the world.
The event is dedicated to innovation, marketing, competition, ideas, creativity and business. Gary focuses on providing a better experience to the community by providing an information resource to all NFT holders.
If you have two VeeFriends tokens, that means you have two VeeCon tickets. The first VeeCon was held in Minneapolis from May 19-22, 2022. And it was a truly global event. The event was attended by such personalities as 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. Well-known NFT artist and influencer Isaac Wright (works under the pseudonym @DrifterShoots) said about VeeCon
Why is the VeeFriends collection popular?
The popularity and high demand for the collection is due to the following factors:
- VeeFriends is not a speculative collection, that is, any holder immediately receives guaranteed utility, the value of which will only grow over the years,
- By purchasing NFT, the user becomes part of the community and is associated with the creator of the collection. The metadata that is embedded in the NFT can be a means for the creator to communicate with the user.
- The user gets access to an exclusive live global VeeCon event. One NFT guarantees participation in the event for three years.
- The founder of the project is a very famous personality, influencer and opinion leader Gary Vaynerchuk. His name is a brand that increases the significance and attractiveness of any project at times.
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 himself says
- Among the owners you can meet many famous personalities and big names.
- An actively developing project ecosystem, which also provides various utilities for holders. For example, all owners also became owners of NFT derivatives Mini drops and VeeFriends Series 2.
According to the official website, the collection holds intrigue for the short and long term. But in fact, no one doubts that the team has a development strategy. The development and scaling of the VeeFriends project is amazing to the community. It is worth noting the direction of the project in the integration of the real and digital world. The VeeCon organization alone is worth something.
In addition, today we see the following real projects and collaborations:
- card game VeeFriends UNO,
- VeeFriends x MaryRuth’s Accountable Anteater multivitamin gummies,
- VeeFriends x Primitive products,
- clothing collection created in collaboration with streetwear brand Staple,
- Empathy Elephant 2019 Cabernet Sauvignon wine collection, created in collaboration with Empathy Wines. The label of the wine featured a VeeFriends character, Empathy Elephant,
- 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. Shared his vision GarryVee at VeeCon 2022
VeeFriends Ecosystem Projects
Project VeeFriends is actively developing as a large-scale ecosystem and today includes:
- Veecon conference,
- Vee Friends Mini Drops,
- Book Games,
- Vee Friends Series 2.
The three-day VeeCon conference was first organized in 2022. It was held at US Bank Stadium with an area of 73,000 sq.m. The event is the real center of the VeeFriends universe, where only token holders from the collection can enter. The first conference was held on an unprecedented scale, raising the bar for such events for the entire market. And this is all the merit of the founder Gary Vaynerchuk. Let’s see how it was:
VeeFriends Mini drops NFT Collection
Mini drops are a sub-collection of VeeFriends, whose NFTs could be received by owners of the main collection tokens. This collection also includes the NFT Gift Goat, which grants the right 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: Harnessing the Emotional Components You Need for Business Success. The gaming part is related to the trading opportunities that Immutabe X provides. Also, NFTs from this game can be exchanged for a VeeCon ticket or for NFTs from the VeeFriends ecosystem.
VeeFriends Series 2 NFT Collection
VeeFriends Series 2 is the second release of the collection, which was released in April 2022. The NFTs in this collection do not provide access to VeeCon, but provide additional benefits within the ecosystem. The NFT of the second edition was available to the holders of the NFT game Book Games and the first series of the VeeFriends collection. The second release of the main collection was also very successful – the volume of secondary sales has already exceeded 30k ETH (more than 48 million dollars at the moment).
How much do VeeFriends cost?
In May 2021, the primary sales were held in a Dutch auction format, where different categories had different starting prices. For example, the cheapest tokens started at 2.5 ETH and went down to 0.5 ETH. Now, of course, the price is completely different.
To visualize the price dynamics, we made a cut at the average price for 1 NFT:
- in June 2021 – 8 UTN,
- 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 December 2022 – 7 ETH.
Now (January 2023) the minimum price is 5.7 ETH. On average, the latest sales are in the range of 5.5-10 ETH. And the total volume of secondary sales amounted to more than 59k ETH (about $93 million).
Most Expensive Sales of VeeFriends
The most expensive sales are led by the following NFTs from the VeeFriends collection:
- Empathy Elephant sold on January 5, 2022 for 130 ETH ($492K at the time of sale),
- Podcast Panther sold on March 4, 2022 for 120 ETH ($314K at the time of sale),
- Alert Ape sold on August 8, 2021 for 105 ETH ($316K at the time of sale),
- Adaptable Alien sold on August 8, 2021 for 100 ETH ($301K at the time of sale).
Where to buy VeeFriends?
VeeFriends is currently only available on the OpenSea secondary market.
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.
Is it worth investing in the VeeFriends 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 reality, 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 increases the significance and investment attractiveness of the project at times. This is confirmed by the volume of secondary sales, which today has exceeded 93 million dollars.
- The growing ecosystem of the project increases the entry threshold into the project and the value of assets, respectively, in the future due to the limited nature of the assets will increase in value.
This collection stands out primarily for its application – access to an exclusive event that can bear fruit for building useful contacts in the industry and finding like-minded people. Thanks to this, the collection has great potential.
But in any case, do your own in-depth analysis and research when investing in NFTs, and then make your own decisions.
Opinion of NFTMetria
The VeeFriends collection has revolutionized the industry and has been successful thanks to the exclusive use of NFT. The market reacted very violently: furious sales; a community that praises the project; celebrities who are happy to participate in the development of VeeFriends.
This is the same case when, at first, the star status of the founder made the project popular, respected and in demand. And as it developed and grew impressively, the collection became a star in the vast empire of Gary Vaynerchuk. Judging by the scale, the project has a great future. Accordingly, digital assets will grow in value and be a desirable investment for most investors in the market.