VeeFriends is the NFT collection of renowned entrepreneur Gary Vaynerchuk. On 5th May this year, Gary launched the most awaited collection of non-fungible tokens (NFT), VeeFriends which has hit the NFT market with a bang.
Gary Vaynerchuk is the CEO of Vaynermedia and has been an investor in many big companies like Twitter, Coinbase, and Uber.
What is VeeFriends?
VeeFriends is composed of 10,255 NFT tokens which are categorized into 3 different types, specifically admission tokens (9400), gift goats (555), and access tokens (300).
In a press article, the team outlines that "Gary V aims to provide the industry with a blueprint for others to follow on how to bring value using NFT technology by giving access, community and real-life value found in the smart contract".
Gary V is essentially trying to sell his time and create value for his community. As stated on the official website, the token holders can redeem their NFT tokens and spend time with Gary V. For instance, the access token is further categorized into group, one-to-one, competition, and scholarship tokens.
* Individuals holding the NFTs from group access tokens can redeem their respective tokens and enjoy breakfast, lunch, brunch, dinner, and hangout walk with Gary V and with other token holders virtually. 
* Similarly, individuals holding "One-to-one" access tokens will have an opportunity to redeem one on one time with Gary.
* In addition, the competition access token holders "have the opportunity to redeem the tokens to compete with Gary in a game".
* Lastly, scholarship access token holders can redeem their tokens to get mentoring and coaching from Gary personally on a professional network.
However, the team is yet to provide specific details on the Gift Goat tokens and admission tokens.
Why VeeFriends NFT?
The reason for Vaynerchuk to venture into NFTs is to create a community of people interested in creative work. This enables artists to have intellectual property of their work in the form of the smart contracts - NFT.
He has shown his passion to help people by pledging to donate part of the proceeds from the NFT sale to charity, including offering educational sponsorships. In addition, he promises to make contributions to decentralized autonomous organizations (DAOs) to offset the effects of mining on the environment.
Gary acknowledges one fact and points it out in his own words: “I know that NFTs will be here for the rest of my life, and I will be actively consulting, investing, and advising in this space.”
NFTs have become a goldfield alongside cryptocurrencies, making many people invest in them. A point to note is that when you own the VeeFriends NFT, you become part of the community and get free access to VeeCON in 2022, 2023, and 2024 as a reward.
By the way, a VeeCON is an exclusive event, a multi-day conference of NFT holders. The conference is a very special occasion because participants discuss important issues relating to business, marketing, entrepreneurship, innovation, competition, and many more. According to Gary, this opportunity helps members to share vital information.
How to buy the NFT?
Gary created 268 unique VeeFriends characters based on the human traits that he desires, mainly those that bring happiness and success to people.
To buy the tokens, one should have ETH in their non-custodial wallets such as MetaMask, Portis, or WalletConnect, which are connected to the VeeFriends platform. The reason for using ETH is that NFTs are ERC-721 compliant contracts.
Buyers bid for the NFTs using the Dutch auction where there is no manipulation of the pricing system. Therefore, once an NFT is on the VeeFriends.com, anyone can bid on it. As noted, there are no fixed prices for these NFTs. However, in one of his interviews with CNBC and a discord group, it is mentioned that the NFT starts with the price of 3 ETH and eventually comes down to 0.5 ETH through a Dutch auction.
Initially, people buy the tokens on VeeFriends.com. However, soon buyers will be able to purchase the tokens at secondary marketplaces like OpenSea and Rarible. The interesting thing is that buyers can also resell these tokens at these secondary marketplaces, where they will get a 10% royalty fee.
Conclusion
In a nutshell, the enterprising mogul Gary Vaynerchuk founded VeeFriends to spread information about NFTs. People can buy and resell the NFTs at VeeFriends, as the primary market and secondary markets such as Opensea. Unlike other NFT tokens, Gary's new NFT emphasises on an unique utility by ensuring the token holders can be benefited from Gary's extensive experience in diverse domains. That being said, each token purchased by any individual is unique since it is attributed to smart contracts, giving them "utility" through metadata.