Non-fungible tokens (NFTs) are set to expand well beyond the digital collectibles and art pieces that they are today, according to one industry insider.
Speaking in a recent podcast interview with TechCrunch, Gary Vaynerchuk (also known as Gary Vee), the entrepreneur behind the media company VaynerX and NFT collection VeeFriends, said that NFTs have a much broader purpose than simply being collectibles,
According to Vaynerchuk, the real-life utility potential of NFTs is perhaps the main thing NFT artists should take more seriously when they develop projects.
As an example, Vaynerchuk said he believes NFTs will find greater growth in areas like ticketing, contracts, and title insurance, rather than solely being digital collectibles.
He also compared the evolution of the internet, which he said used to be referred to as the “information superhighway,” to the much broader scope it encompasses today.
“Today, we know the internet for a lot more,” the NFT creator said.
Vaynerchuk further compared his initial goal of building a Disney-like universe to his current focus on creating a Sesame Street-like experience through NFTs.
But despite abandoning the Disney idea, the ambition of creating “a universe” in digital form remains.
“I want to create a universe, and I thought the technology of NFTs was an incredibly fun way to start that,” Vaynerchuk said in the interview.
As an entrepreneur with a successful background in e-commerce and the emerging web3 space, Vaynerchuk’s insights does hold some weight in the evolving NFT landscape, and his call for NFTs to expand beyond being mere collectibles could mean that the future holds exciting possibilities for these unique digital assets.
Gary Vaynerchuk, a serial entrepreneur and investor, is one of the most vocal proponents of NFTs. He believes that NFTs have the potential to revolutionize the way we interact with the world around us.
In a recent interview, Vaynerchuk said that he sees NFTs as more than just digital collectibles. He believes that NFTs can be used to represent ownership of real-world assets, such as property, cars, and even art. He also believes that NFTs can be used to create new forms of digital ownership, such as tickets to events or access to exclusive content.
Vaynerchuk’s vision for the future of NFTs is one where NFTs are used to create a more transparent and secure world. He believes that NFTs can help to reduce fraud and counterfeiting, and that they can also help to create new forms of ownership and community.
Here are some of the key points from Vaynerchuk’s vision for the future of NFTs:
- NFTs can be used to represent ownership of real-world assets.
- NFTs can be used to create new forms of digital ownership.
- NFTs can help to reduce fraud and counterfeiting.
- NFTs can help to create new forms of ownership and community.
It remains to be seen whether Vaynerchuk’s vision for the future of NFTs will come to pass. However, his enthusiasm for the technology is undeniable. It will be interesting to see how NFTs evolve in the years to come.
Here are some of the potential applications of NFTs that Vaynerchuk has mentioned:
- Tickets to events: NFTs could be used to create tickets to events that are both secure and verifiable. This could help to reduce fraud and counterfeiting, and it could also make it easier for event organizers to manage their inventory.
- Access to exclusive content: NFTs could be used to create access to exclusive content, such as behind-the-scenes videos, early access to products, or even exclusive events. This could help to create a sense of community and belonging among NFT holders.
- Real-world assets: NFTs could be used to represent ownership of real-world assets, such as property, cars, or even art. This could help to make it easier to track ownership of these assets, and it could also make it easier to sell or trade them.
These are just a few of the potential applications of NFTs that Vaynerchuk has mentioned. As the technology continues to develop, we can expect to see even more innovative and creative uses for NFTs.