Gary Vee Explains What “Utility” Is With His NFT Collection and Why It’s Worth Money

You might still be wondering why NFTs are such a big deal. Most NFT enthusiasts and collectors agree that the value of NFTs comes from three things: utility, access, and social currency. If you understand the concept behind membership cards, rewards on credit cards, and tickets to VIP access-only events, you understand NFTs. If you’ve ever purchased skins or other virtual items for your video games, you understand NFTs.

The reason you wanted that item was for it to hold a utility in a world that you cared about, to have unique experiences that aren’t for sale or available to the public, or to have clout, and flexing rights among others. In the same sense, NFTs extend that same utility and “flex”. 

One of the most successful NFT creators in the space is Gary Vee. His Vee Friends NFT collection has generated over $91 million in revenue for him since it was released a year ago. The unique thing about Gary Vee is how relatively new he is to the NFT space and yet, so successful. He credits this with being self-taught thanks to about “50 hours of research done on Twitter and online”.

Vee is a trusted voice in the NFT space and has a talent for explaining what they are in a way that even the most technically challenged person can understand. Check out this video where Gary Vee explains what utility is on his NFT collection and why it’s worth so much money.  Btw-If you’re new to NFTs or interested in learning how to invest in them without losing money or getting scammed, sign up for our free NFT course for musicians here.

Watch the video below