Gary Vaynerchuck: Everyone Will Own Things Digitally in 15 Years

While some scoff at the idea of NFTs having intrinsic value, one content creator sees untapped potential in the space. Gary Vaynerchuck (a.k.a. “Gary Vee”) – VaynerMedia CEO and YouTube sensation – recently argued that Non-Fungible-Tokens would be a norm within two decades.

NFTs and ‘Social Communication’

The entrepreneur explained his support for NFTs in an interview with Yahoo Finance’s Daniel Roberts earlier today. Roberts asked why it was so difficult to communicate the concept of NFTs to average people right now. He raises the frequent ‘I can just right click-it’ criticism that NFTs often receives.

Gary rebuttals this, comparing them to other, physical luxury items such as sports cars and Rolex watches. People frequently pretend to own these over social media as well, but they nevertheless remain valuable.

“We’ve had 25 years of an internet where people don’t own things digitally,” said the CEO. “[Now] we have a new invention – it’s called a blockchain – where people do own things digitally.”

Gary Vee was first introduced to blockchain in 2014, when Aaron Batalion – a fellow entrepreneur – exposed him to Bitcoin. Gary said he had trouble wrapping his head around the concept, due to the financial element of it. However, when introduced to Ethereum the following year, he said it “clicked”, and he bought “a bunch” at a very low price.

The CEO insisted that NFTs will become a form of social communication, much like clothing and Fortnite skins are today.

“Every person that’s watching this right now that is lucky enough to be alive in 15 years will own multiple things digitally. The end.”

Gary Vaynerchuk Says This One Thing Is The Quickest Path To Success And Happiness
Gary Vaynerchuck. Source: Forbes

GaryVee’s Long-Term NFT Enthusiasm

The entrepreneur has been a public advocate for NFTs all year, launching his own collection of NFTs called “Vee Friends” months ago. It features a series of low-quality art pieces hand-drawn by Gary himself. Last month, Christie’s auction house sold five of them for over a million dollars.

Despite his recent success in the space, Gary is preparing for an “NFT winter”, which he sees as very likely. However, he predicted that the best NFTs will see a long-term resurgence, much like Amazon and eBay in the early 2000s. He names Cryptopunks as a contender for that spot, alongside Bored Apes.

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Indeed, Bored Ape Yacht Club is already establishing its brand within the mainstream. Last month, the collection signed on with Madonna’s talent manager for a variety of initiatives.

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