What does Gary Vaynerchuk think about Web3

Introduction: The Marketing Guru of NFTs

Gary Vaynerchuk, universally known as GaryVee, is a serial entrepreneur, investor, author, and internet personality who has become one of the most visible and influential advocates for Web3, particularly in the realm of NFTs (Non-Fungible Tokens). With his signature high-energy style and relentless focus on practical marketing and brand-building, Gary has brought the concepts of digital ownership and community to a massive mainstream audience.

This guide explores GaryVee's unique perspective on Web3, focusing on his investment thesis, his emphasis on building long-term intellectual property (IP), the creation of his massively successful VeeFriends NFT project, and his actionable advice for anyone looking to navigate the space.

From Wine to Web3

Gary's journey is one of identifying and capitalizing on emerging trends. He first gained fame by transforming his family's liquor store into a multi-million dollar e-commerce business, largely through his pioneering YouTube show, Wine Library TV. He then founded VaynerMedia, a digital advertising agency that has grown into a global powerhouse.

His core skill has always been understanding where consumer attention is going and how to build brand and community on new platforms. He was an early adopter of social media platforms like Twitter, Facebook, and Snapchat, and he applied this same pattern-recognition to Web3. He saw in NFTs not just a new type of digital collectible, but a fundamental shift in how brands, creators, and communities can interact and create value together.

Core Thesis: NFTs as Long-Term IP and Community Keys

Unlike many who entered the space with a focus on finance or technology, Gary's perspective on Web3 is rooted in marketing, branding, and human behavior. His central thesis is that NFTs are not just about the art; they are about access, community, and the creation of long-term intellectual property (IP).

1. The Real Value is Utility and Access

For Gary, the "art" of an NFT is often the least important part. He consistently argues that the long-term value of an NFT project will be determined by the utility it provides to its holders.

NFTs as "Keys": He views NFTs as digital keys that unlock access to a community, events, information, or experiences. The NFT is the proof of membership.
A New Kind of Membership Card: Holding a specific NFT might grant you access to a private Discord server, a seat at an exclusive conference, a one-on-one meeting with the founder, or a free product. The more valuable the access, the more valuable the NFT "key."

2. Building Intellectual Property for the Next 50 Years

Gary encourages founders and creators to think of their NFT projects not as a short-term cash grab, but as the beginning of a new global brand or intellectual property, on par with franchises like Pokémon or Hello Kitty.

Characters as Brands: The characters or assets in an NFT collection are new pieces of IP. The goal is to build a story, a personality, and a universe around these characters, turning them into recognizable brands that can be licensed for toys, cartoons, clothing, and more.
Long-Term Vision: He constantly preaches the importance of patience and having a 10, 20, or 50-year vision for the IP. He believes the vast majority of projects that are focused on short-term hype will fail, while those that patiently build a beloved brand will win in the long run.

3. Community is Everything

Drawing on his decades of experience in social media marketing, Gary emphasizes that a strong, engaged, and positive community is the most important asset for any Web3 project.

From Audience to Community: Web3 allows brands to move beyond having a passive "audience" to cultivating an active "community" of owners. When users own a piece of the project (the NFT), their incentives are aligned with the project's success.
The "Vibe" Matters: He often speaks about the importance of the "vibe" or culture within a community. A positive, supportive, and collaborative community will attract more like-minded members and create a network effect that is difficult for competitors to replicate.

VeeFriends: Putting the Thesis into Practice

In 2021, Gary launched VeeFriends, an NFT project that serves as the perfect embodiment of his entire Web3 philosophy.

The Characters: The collection consists of 286 characters, all hand-drawn by Gary himself, with whimsical names like "Patient Panda," "Accountable Ant," and "Empathetic Elephant." These characters represent traits that Gary values and promotes in his content.
Access as Utility: Each NFT serves as a ticket to VeeCon, an annual super-conference that Gary hosts. Different tokens come with different levels of access. For example, "Gift Goat" tokens entitle the holder to receive multiple physical gifts from Gary throughout the year. "Hangout Hawk" tokens grant the holder one-on-one coaching sessions.
Building the IP: From day one, Gary has treated the VeeFriends characters as new IP. He has secured deals to turn them into plush toys sold at major retailers like Toys"R"Us, and has developed animated content, clothing lines, and other merchandise. He is executing his playbook in public, demonstrating how to build a brand from an NFT collection.

VeeFriends is a masterclass in Gary's Web3 strategy: create scarcity, provide real-world utility and access, build a strong community, and focus on the long-term development of intellectual property.

GaryVee's Practical Advice for Web3

Gary's content is always focused on providing practical, actionable advice. Here are some of his most common recommendations for individuals and businesses looking to get into Web3.

Do the Work (DYOR): He relentlessly tells his audience to "do your own research." He believes that to succeed, you must spend dozens, if not hundreds, of hours immersing yourself in the space—listening to podcasts, reading articles, and joining Discord communities—before you invest a single dollar.
Focus on the "Who," Not Just the "What": When evaluating a project, Gary places enormous emphasis on the founder and the team. He asks: Is the founder a long-term operator? Do they have a track record of execution? Are they communicating transparently with the community? He believes that in the long run, betting on good people is the best strategy.
Provide Value First: For brands entering the space, he warns against a simple "cash grab." He advises them to think about how they can use NFTs to provide real value to their existing customers. For example, a restaurant could issue an NFT that gives the holder a free dessert every time they visit.
Patience is Key: Gary constantly reminds his audience that Web3 is a long-term game. He compares the current state of NFTs to the early days of the internet in the 1990s. He advises people to be prepared for volatility and to focus on projects that are building for the next decade, not the next week.

Conclusion: The Ultimate Web3 Marketer

Gary Vaynerchuk's contribution to Web3 is not as a technical innovator, but as a master communicator and marketer. He has a unique ability to cut through the complex jargon and explain the core value propositions of NFTs and community ownership in a way that resonates with a mainstream audience.

His relentless focus on long-term brand building, community engagement, and providing real-world utility has been an important counterbalance to the speculative frenzy that has often dominated the NFT space. Through his own project, VeeFriends, he provides a public, real-time case study in how to build a meaningful and valuable Web3 brand from the ground up. For anyone looking to understand the practical application of NFTs for marketing and community, GaryVee's work is an essential starting point.

Frequently Asked Questions (FAQ)

Q1: What is VeeFriends? A1: VeeFriends is Gary Vaynerchuk's signature NFT project. The collection consists of characters hand-drawn by Gary, and each NFT acts as a "key" that grants the holder access to his multi-day super-conference, VeeCon, and other potential utilities.

Q2: Does GaryVee think all NFTs are good investments? A2: Absolutely not. He has stated publicly and repeatedly that he believes 98-99% of all NFT projects will fail and go to zero. He urges people to do extensive research and focus on projects with strong, long-term-oriented founders and real utility.

Q3: What does GaryVee mean by "utility"? A3: For Gary, "utility" means the real-world value or access an NFT provides. It's what the NFT does beyond just being a collectible. This could be access to an event (like VeeCon), a private community, a physical product, a discount, or a service.

Q4: Is GaryVee a coder or developer? A4: No, Gary is not a programmer. His expertise is in marketing, brand building, community dynamics, and identifying consumer trends. He relies on his team at VaynerNFT (now Vayner3) to handle the technical execution of his Web3 projects.

Q5: What is GaryVee's advice for big brands entering Web3? A5: His primary advice is to avoid short-term thinking and "cash grabs." He encourages them to use NFTs as a tool to reward their most loyal customers and build a deeper sense of community, rather than just selling collectibles with no long-term plan.