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Garyvee is setting the standard for how Nft projects should be run and the most Concerning part is I don’t think most Pfp projects even know what they are so Guys in today’s video I’m going to break Down exactly why garyvee is on the exact Right path for what nft project should Be and kind of explain to you my big Concerns for some of these projects that We consider Blue Chips right now so Let’s get into it so if you guys don’t Know garyvee dropped his very first nft Project called V friends just over a Year ago and actually made over 51 Million dollars off the drop which was Kind of controversial at the time but if You bought the nft it guaranteed you Access to vcon for three years and if You don’t know what vcon is it’s Basically just like one of the biggest Nft web 3 in real life events and this Year it was at U.S Bank Stadium in Minnesota a literal football stadium and Was probably the most fun event of the Entire year so that justifies the price Of the nft in and of itself but if You’re familiar with the nft space you Know from a holder’s perspective that is Never enough so a big problem I’m seeing In the nft space specifically with Profile picture projects is they don’t Even know what they are and a lot of These projects are adding utility to Their project but what they don’t
Realize is once you start tying utility To your project your price starts Getting anchored to the value of that Utility and so we’re seeing a lot of Projects make trading tools softwares or Whatever it may be and giving their Holders access but what’s really Happening is these tools would only be About 15 to 20 a month as a SAS product In web 2 and that’s starting to be Reflected in the floor price of these Projects and so of course we don’t Define the success of a Project based on Their floor price but a big problem that We see is Project Founders have a lot of Holders and a lot of holders are buying These projects because they want to make Money and that’s truly it and so we Often have Angry mobs that demand Announcement every single week so the Floor price will go up but if you’ve Ever ran a business you know it takes a Long time usually years before you can Actually make something truly great so So it’s been really refreshing to see Garyvee focus on a vision and continue To execute on that Vision no matter what The critics are saying so realistically Most pfp projects only have one route if They want to be successful and that has Become a worldwide recognized IP brand Which is extremely hard this is Something similar to Shrek Spider-Man Pretty much any of the Disney movies
That we all know and love and if we saw On the street we could point it out and The only real way to do this is to Create comic books TV series movies toys Merch you name it and those take decades To actually come to life and the hard Part is you have to do virtually all of These so it’s basically just a game of Awareness my biggest concern with a lot Of the projects in the space like Doodles and azuki is they’ve taken a lot Out of the ecosystem and they’ve built Up very high expectations with floor Prices on average over 10 ethereum Around 15 000 US dollars with not much To show for it yes they made more drops More nfts taken more money from their Holders but that’s just made people Expect more and more and so to me it is Very concerning that azuki hasn’t really Created a huge partnership hasn’t really Come out with anything that is showing Results in the real tangible world to Build their brand because at the end of The day you need to get your brand in Front of everybody for me it’s very Concerning that these projects in the Space are being valuated that highly Without anything built yet and that is Just going to set up for speculation People’s expectations to get really high And then usually the output never meets Those expectations people start to FUD And the project comes collapsing down so
To see what V friends just announced was A absolute breath of fresh air so you’re Trying to make a worldwide IP brand what Do you need to make that happen well You’re going to need to partner with the Biggest media companies the biggest Animators the biggest manufacturers Distributors logistic companies so you Can get your brand in every store every Shelf every movie theater on Netflix and Every possible classroom room in America And guess what that’s exactly what Garyvee is doing so they just recently Announced their official V Friends plush Toy collaboration with Toys R Us and Macy’s which are the biggest toy stores In America and this is so smart from Both sides because not only does v Friends now get shelf space in literally Every state in America Macy’s and Toys R Us are probably on the decline because Of the growth of the internet and so now There’s going to be hundreds of Thousands of garyvee fans coming into Their stores just to check out and buy V Friends to support Gary so from a Business perspective it just makes sense And that’s what really excites me Because I’m a business nerd and I love Helping the biggest brands in the world Come up with nft strategies but let’s go Ahead and break down what the moving Pieces are for the nft for the plush Toys and how it benefits you the holder
So first and foremost guys this is not Financial advice I do not hold any V-friend nfts and I’m not telling you to Buy this nft but I’m just going to Explain what the strategy is here and How garyvee is think talking about it Okay so first and foremost there are 233 Characters in The V front collection They chose 10 of the 233 characters to Be plush toys in stores so basically Each one of these toys comes with a QR Code that can be scanned and based on The character you’re going to get a 3D Animated heartfelt story along with a Customized song so that’s what the Actual plush toy gets you so if you Actually own an nft that is one of those 10 out of 233 V friend characters you Actually get to claim a free figurine Online and this is really cool I think It’s very Cutting Edge to be using this Claiming mechanism I think that’s how Most brand Partnerships and most Fulfillment of products will be used in The future connect your wallet use your Nft claim it and it’ll be shipped to Your house it’s a very cool mechanic and What the future of our world is going to Look like so shout out to them for using That mechanic and I mean hey it’s a free Figurine you can’t be mad about that as A holder but Brett why is that good for Me as a holder that doesn’t have one of Those 10 characters well my my friend
That’s exactly what I’m going to explain To you so guys there’s this foreign term Called patience that a lot of people in The world practice but in the nft space No one knows about it so what you guys Need to understand building this type of Worldwide IEP brand does not happen Overnight does not happen in a year Doesn’t even happen in five years most The time but once we start talking on a Decade time Horizon this is when things Will start to play out and so understand That if you are a v friend holder this Is what you’re signing up for this is Garyvee strategy and this is what you Need to mentally prepare yourself for Gary is trying to build the next Trek The Next Scooby-Doo whatever it may be With these v-friend characters and like I said earlier that’s going to require Comic books TV shows movies toys merch Whatever it is but this is an extremely Positive sign because he already has Built the first vertical which is Stuffed animals now think about this These toys are going to be on the Shelves in hundreds of stores Across America and hundreds of thousands if not Millions of kids will stumble across These in the store now of course they’re Not gonna know this is an nft project But if they think the toy is cute they Take it home they scan the QR code they Watch the stories they listen to the
Songs and they build an emotional Attachment to this toy to this brand That is where we are in business so if We think about any collectible it Typically takes decades for those to Become valuable when baseball cards come Out they’re not valuable this year They’re not valuable next year they’re Typically valued 10 20 30 years down the Line by people who enjoyed these cards As a kid have made some money and now Want to live through some of the Memories by buying these cards that they Used to have as a kid now this same Concept will apply to the V Friends Plush toys if as a kid you bought this Plush toy it was one of your favorite Toys for years you enjoyed the story you Created emotional bond with it you’re Gonna then stumble across the series 1 V-friend nfts and the idea is if they Had such a big connection five to ten Years ago with these toys they enjoy the Brand the TVC series comes out Comics Come out they get deeper involved how Valuable would that very first nft that Started this whole brand become that is What garyvee is trying to do they are Trying to create emotional attachment to This brand and that is what makes the Nfts valuable no hype no fomo no Buzzword utility to pump the floor this Week this true genuine connection Between the brand and the consumer so to
See Gary be one of the very first Project Founders to actually implement This make this a reality and get Distribution across the entire country Is absolutely massive this is exactly What Doodles has to do this is exactly What azuki’s gonna have to do Essentially every pfp project you need Awareness you need your brand in front Of every kid and you need them to love It so I think this is a step in the Right direction now I do have a few Critiques but not as many as I usually Do compared to my other nft strategy Videos that I make on companies so I Would say that in this day and age with Technology the way it is how easily of Available it is and how much it’s Evolved kids are used to very in-depth Very immersive experiences with their Games so I kind of wish they took a note Out of the Webkinz Playbook so if you Don’t know what Webkinz was way back in The day I think over 15 years ago if you Bought this stuffed animal you could Then take it home use a code on the Stuffed animal type it into your Computer and now this stuffed animal is Your character in this Webkinz arcade Game and within the game you actually Had your own home you could customize Your home put a couch put toys put Decorations on the wall and you could do This by playing these games in their
Arcade spinning a wheel these simple Arcade games but the more you played the More you can customize your home and the More Webkins you had the more points you Could earn so the better your home could Look and every single weekend I’d have My friends over I’d show off my WebKinz Home I’d have all the stuffed animals And I had a real deep emotional Connection because I could look at the Stuffed animal and I could look at it on The screen and I really just felt proud And felt like that was me that was my Digital identity and I was doing this in Elementary school and that was something That I was very serious about because it Almost gave me status in elementary School like I would brag and flex and Show my friends and it would make me Work so much harder and want to buy more So I could be better and have a cooler Home just to show off to my friends and So I really don’t know if a stuffed Animal and a QR code for an animated Story is gonna be enough for a kid to Get that deep emotional attachment but Of course I already know Gary has much More up his sleeve and that obviously Takes a long time to build I’m not gonna Expect Gary to be able to pop out of Webkinz competitor in a year so Personally I think maybe there could Have been more time focused on the QR Code but only time will tell to see how
In-depth those animated stories are and How they actually have people interact With it and of course I know I just Criticized Doodles and azuki for not Doing this maybe they’re doing something And it’s just going to take a few years So understand guys there’s so much going On but based on the decisions and based On this execution that garyvee just Exhibited this gives me huge confidence That he knows exactly what he’s building In just a matter of time so guys that’s Going to do it for today’s video go Ahead and leave a comment on what you Think they could have done better Because I think constructive criticism For all of us is what makes us better so Guys if you learned something from this Video send it to a friend this is the Biggest opportunity for Our Generation Hands down and we don’t want anybody to Get left behind but lastly guys like the Video If you enjoyed it it really does Help the channel but as always I hope You have a wonderful day I will see you In the next one Thank you [Music]
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Simple Way to Get Rich – Reinvesting Your Earnings
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