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I join Caleb Silver in his show "The Investopedia Express" to talk about my passion for non-fungible tokens (NFTs), the future of advertising, and why empathy is my guiding principle. Plus, investing, what I look for and how Influencer Marketing is evolving.
00:25 What's the future of NFTs?
04:50 How important is authenticity for the value of things?
05:40 What's VeeFriends About?
06:27 What's the Future for Crypto and DeFi?
07:15 How Influencer Marketing Will Evolve
08:45 The Future of Investment
10:00 How do I identify investments?
11:00 What I'm trying to improve?
12:25 How Empathy made me better
Thanks for watching!
Check out another series on my channel:
Tea With GaryVee (Fan Q&A Series):
Overrated Underrated (Hot-takes on Culture):
Gary Vaynerchuk Original Films:
Trash Talk:
Gary Vaynerchuk is one of the world’s leading marketing experts, a New York Times bestselling author, and the chairman of VaynerX, a modern-day communications company and the active CEO of VaynerMedia, a contemporary global creative and media agency built to drive business outcomes for their partners. He is a highly popular public speaker, and a prolific investor with investments in companies such as Facebook, Twitter, Tumblr, Venmo, Coinbase, Slack, and Uber. Gary is a board/advisory member of Bojangles’ Restaurants, MikMak, Pencils of Promise, and is a longtime Well Member of Charity: Water. He’s also an avid sports card investor and collector. He lives in New York City.

You know to your point: the visas, the mastercards they have so much power, so much anointing power, so much gateway power, but all they can do is slow it down the cat's out of the bag. You've got your perspective. I just want to be happy. Don't you want to be happy, let's start with nfts those non-fungible tokens, our audience.

Our readers and listeners are so interested in those you've been very busy, creating and issuing your own nfts and selling them. Most recently, you sold your collection of of doodles and sketches for over a million dollars at auction at christie's. You started an nft platform with julian schnabel called art official. What is it gary about nfts that has you so enthusiastic? What are they telling us about? The future about collectibles about authenticity, i think people are underestimating what digital ownership means no different than i think people underestimated what having a social media account meant.

You know, i don't think you know this we're both of the age where a human having a social media account was foreign. That was not something people did, and today you know most people do, even if they have it anonymously to keep tabs on people or use twitter to keep up with the news or occasionally check facebook. For you know birthdays, you know, a shocking amount of society is active on social and even bigger percentages consuming it, and i don't you know, as somebody who was there in 2005, 67 people didn't see it that way. They saw it as for kids, they saw it as who cares if you're having a piece of pizza or walking the dog, and i think the exact same thing is happening right now in nft land.

I think people are misunderstanding. Why everyone's going to want to own something digitally? You know you have all these cool things behind you as we're filming this there's a reason. You want those things expressing yourself decorating your home memory to something there's a million different investment scenarios, and i think that people don't understand that nfts represent many things um, but from an investment standpoint, people want to have digital assets and they're going to trade. Those digital assets.

I also think it goes beyond that. I think the reason somebody owns a rolex versus a regular watch, a pair of nikes besides a regular joggers, a a mercedes-benz instead of a ford, is because of status and expressionism and and then there's the overarching aspect that it is a public, transparent, ledger confirmed by With no cost association in comparison to leases and mortgages and all the other things and so um to me, this is a foregone conclusion to me. It's similar to 95 internet life, though um you know, i think much like we saw on the internet. There was a lot of public stocks that made no sense that were worth a lot of money, becoming the poster child, and i think the same thing is happening in nft project land.

I think the nft thing is going to happen and i want v friends to be amazon or at least ebay right uh, and they were there as dollar stocks back when everything crashed and i think the same thing's happening in ft land. The macro concept is here in perpetuity on the micro. I do believe we're in a gold rush moment right now and there are a lot of people buying nfts that will not be as valuable as they pay for them and that's a treacherous thing to navigate through the macros right and there's an amazon and ebay at It there, oh by the way eight out of ten of them, are how you gon na figure that out there's a lot of ways to play it if you're high risk high reward you're buying the individual stuff, if you're a little bit different you're. Looking at the whole landscape and deciding where you want to be a participant selling the shovels and the picks uh buying individual projects, you know, for example, i've spent a lot of money on crypto punks and i feel like it's my most safe investment.

I own really genuinely i'm that convinced that that project, the og project, the one that kind of established the 10 000 images framework, the one that is owned by many important people and collectors is uh, is incredibly sound and i think the bottom floor of that is Four hundred thousand dollars a piece right now, and so you know this is how i think about things. What does it conceptually mean? Metaphysically mean in a world where everything's digital things can be faked. How important is the authenticity that signature? This is a gary vee original uh to the value of things looking forward out a decade, or so i mean it's everything right i mean that's. That was the vulnerability of uh of the world we live in today there was fakes, there's no fakes in nft land, um, it's incredibly powerful and providences understood and who owned it and the transparency matters you know christies and sotheby's are respected and accepted, but it's human-based.

They can only be so right. It's inconceivable to me that there haven't been fake things sold through the greatest auction houses in the world, with what you're doing with nf keys each one of these tokens you recently sold with the v friends. Collection includes a smart contract with the metadata that that you can interact with the buyer with right these they can get exclusive access. I'm reading to an annual business event called vcon for three years.

This is more than just buy something that i created because i'm garyvee. Here's my digital signature, it's a one, one-of-one you're, creating community with them is that where this is headed to reality is, is that i'm? I feel this is more walt disney than it is andy warhol, i'm trying to build an intellectual property tv film action figure. This than the other thing - and you know these tokens - are the original cells right there and and i can create value of creation, as i keep adding value to the ticket holders. The token holders the nft holder.

So it's an economy that you're building as a creator of nfc project. I think we can all agree that bitcoin is probably dramatically more far along than what many would have predicted it to be eight nine years ago, and that itself has to right. When you have visa mastercard allowing you to transact when you have the biggest money managers allowing you to invest in crypto or pathways to that, we're here right, i believe so and i believe we're here on the consumer lens. You know to your point: the visas, the mastercards, the biggest trading firms.

They have so much power, so much anointing power, so much gateway power, but all they can do is slow. It down right people want it the count, the cat's out of the bag. What's the natural extension of influence marketing, as you see it? Well, i you know, i think what a lot of influencers are going to do now is, and we've seen this progression. It went from you know, just building up a following and monetizing offline.

A book deal speaking, i live that back to my original influencer world. Then you started getting into the monetization of the ads right. The youtube ad revenue started becoming quite meaningful. Then you started getting into brand deals.

Brands started to compensate influencers and there are plenty of people who make seven figures a year, being a human being on social and having brands, pay them money to endorse them. No different than mickey mantle or john wayne just an influencer fall. Then you started seeing you know them. Influencers are starting to build businesses like i did with empathy wines.

You know eight nine figure exits for influencers who built a company on the back of their audience, and now i think, you'll see in nft land people build. You know ecosystems, you know financial vehicles, uh economies around them and i think that's where we're going. Let's talk about investing, which is our domain. You've been a pretty savvy investor and you've been an early investor in some very successful public companies.

Given what we've seen gary in the past 18 months, millions of new traders and investors joining the market through the robin hoods, the etoros, the weebles or even a classic online broker? How is that game changing now that we have this very uh engaged retail base? It changes a lot. You know. You've got a lot more casual investors, many of whom view it as a vehicle for community. Many of them who view it as social gaming is what i would use.

You know, like people buying, to gain the dynamics, we're seeing investing as an identity. We've seen that with entrepreneurship as a decade. Now yeah is somebody we all know, that's right, so i think i think that a couple things on that one there's also a lot of naivete and ideology and lack of education which can lead to huge vulnerability. So you know a lot of the kids they like me and i keep pushing them like be thoughtful.

You know like get educated um, but i think you know it. It speaks well. I actually think it's probably one of the biggest reasons i'm bullish on nfts. I i still believe that the way nfts are going to play out is somebody's going to be more excited to show you they're, holding an x copy or a crypto punk than holding 17 shares of tesla.

Let's talk about how you identify investments that you want to make public or private public companies, private companies, businesses you get into! What's your criteria, what are your basics that you put everything through when you look at that prism? Do i believe in the hypothesis that consumers will like this and do i believe, the human being that's driving? It is capable of driving it or adjusting to reality. This is as simple as it gets, and i have a knack for understanding consumers, which already puts me in a very good spot on hypothesis. I also have a very strong understanding of timing. One thing that i've understood now in hindsight when i look at my success, is: oh i'm good at timing like when all my friends are like investing in vr.

I understand that vr is gon na happen, but i i was stronger than them four years ago, saying vr is further away than you think. Let's talk about the the last year year and a half, what influenced you the most in the past year? What did you change about the way you operate as a as an executive or as a father as a person uh given the last year that we've been through or so before, kovid i started being self-aware that lack of candor as an executive and a leader gary Vee the person everybody knows on the other side, strength was candor people loved that i quote unquote shot at straight on stage in meetings, but me on one on one in every relationship on and off the field of business. I struggled with deploying critical feedback or negative feedback. I tried to get around it with optimism.

Oftentimes met with delusion and over the last three years, i've really chipped away at it and my new book that's coming out in november, i called it 12 and a half. It was about these 13 emotional ingredients that i think are essential for business success as a leader or as an employee, and i call it 12 and a half because kind. Candor is one of them, but i go very vulnerable and say i'm only at a half on this one and that's the biggest thing i've changed. I think i'm through going through a put a positive journey around candor.

Well, you not only preach empathy in your business and you have the wine, but i know for a fact that you practice it as a leader as a father and as a friend when did you come to that realization and how has it made you better early? I i knew as a child that i was nicer than most people that i was more compassionate. I didn't have the words of empathy. I knew i was more sensitive, i legitimately recall, crying or being on the verge of tears. When kids would pick on kids who had disabilities or were poor.

You know i grew up in a pr. My first several years of america, i grew up in lower middle class environments. You know you find yourself in those environments, there's some kids that are even less fortunate than you wearing the same clothes to school. I was always very sensitive.

I cried a lot. I had a lot of emotions and feelings, but they were my superpower and i knew, as i got older and older and older, it became very clear to me how to harness it and i'm so proud of my compassion and empathy and sympathy and feelings towards others. It you know, i love that i get such a sense of happiness by delivering for others, it's a it's a beautiful lucky. I want to use that word.

It's just my dna. It is a beautiful, but it was count. You know, and then even my mother, who accentuated it, there's luck in having that mother right, like i'm incredibly grateful for the circumstances that led me to be very passionate about other people's feelings, seeing the arbitrage and seeing around corners, something you have done ever since i Met you years and years ago, and it's been a real pleasure to know you and and watch what you've been able to build, but also the person that you've become gary vaynerchuk thanks. So much for joining the express so good to have you here, thanks caleb.

12 thoughts on “Watch this to understand nfts and marketing”
  1. Avataaar/Circle Created with python_avatars Andre Fecteau says:

    it's ironic that Gary says "don't buy crap" and what he sells/NFT is crap…like the shitty little plastic dolls he flips from garage sale, the only value they have is in the mind of the buyer and the marketing behind it…a Rolex has intrinsic value, it's a store of wealth like gold or silver; someone cannot create one out of thin air…so this NFT thing? all hype

  2. Avataaar/Circle Created with python_avatars Hola! Steven Enriquez says:

    Venturing into the trading world without the help of a professional trader and expecting profits is like turning water into wine, you would need a miracle, that's why i trade with hilder Ferguson, her skills set is exceptional.

  3. Avataaar/Circle Created with python_avatars Terry L says:

    I'm so vulnerable because I'm pure in intention. I want to or DO feel everyone else is as well. WRONG I am sometimes. I cannot change that about me, thus II need protection from those with unpure intention.

  4. Avataaar/Circle Created with python_avatars Mario Castillo says:

    Coming from the world of online gaming, I can promise everyone that it is well within the human capability to value, trade and sell digital items. There's games like Magic: the Gathering that have an online presence and people pay up for the digital cards. Games like Path of Exile where people grind out rare items and sell them for hundreds in a forum.

  5. Avataaar/Circle Created with python_avatars Jacques Neville says:

    <<very informative video you have here, there are several reasons why investment advisors and high net worth investors including major Banks are recognizing the benefits of Bitcoin in their strategic asset allocation. Key among them are portfolio diversification, the upside potential versus other assets, and future adoption potential with others like ETFs. (countries like Germany are taking the lead already). So far my trading experience has been awesome for years with the teachings of career trader Rico Alan who has been my portfolio strategist. I started with little over 4BTC, so far i've accumulated more than 6BTC after taxes.>>.

  6. Avataaar/Circle Created with python_avatars big daddy coool says:

    NFT's will be studied by historians and 50 years from now they will arrive at the same conclusion as I did….worthless things that don't ACTUALLY exist Gary. Talk about that part. They are a figment of your imagination.

  7. Avataaar/Circle Created with python_avatars Tube Of Noob says:

    I listen to your content every day I'm hard at work. I long for the day I no longer have to do labor jobs. I start my flipping game this weekend. What are some tips you would give to someone starting with only 100$ every paycheque that I can invest?

  8. Avataaar/Circle Created with python_avatars Max Maker says:

    Those NFTs are complete bullshit in my opinion. You can trade art and Rolex because they have a rarity to them. NFTs can be created without any burden, without costs without real investments to make them.

  9. Avataaar/Circle Created with python_avatars Ericson Raymond says:

    Shiba is the best online community there is and am proud to be a part of it. It's still very early in the game even after smashing all time highs. Everyone is welcome to ride with us. Let's go champ!

  10. Avataaar/Circle Created with python_avatars Wealth Nation says:

    <There is one thing I have learned in recent months it is to remain calm, especially when it comes to investments in cryptocurrencies. Learn not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses.The market is very unstable and you can not tell if it's going bearish or bullish.While myself and others are trad! N without fear of making a loss others are being patient for the price to skyrocket. It all depends on the pattern you follow. I was able to make 6.5BTC from 2.4 BTC in just August from implementing trades with tips and info from Ryan Matta,…

  11. Avataaar/Circle Created with python_avatars V S says:

    NFT is just a way for creators to make money.

    Real world art can not be copied, and even if it is copied nobody is going to believe it is 100% same.
    Digital art CAN BE EXACTLY COPIED and everyone will believe it!

    If you cannot build a physical museum of NFTs, it has 0 value. Of course zillionaires can and will buy them and pay exorbitant money inflating their values for tax purposes.

    Let your company buy content from anonymous creator (yourself) and pay 0 tax.

  12. Avataaar/Circle Created with python_avatars Stud Sidious says:

    I feel bad for all those 🐑 that bought NFT’s based on early social media hype without research. It is and will continue to be an amazing tool for artists / pro creatives but the uneducated consumers can get shafted really quick. Do your research people, don’t buy blindly. Great art & content Gary. 👍 NFT have been a marketing tactic most agencies with fortunate 500 clients have been trying to execute for years now. Glad the consumer caught up but without education they can easily lose their 👕.

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