VeeFriends is an NFT project built on the Ethereum blockchain by Gary Vee. The collection consists of two series and was created to help Gary Vee give back to his community.
The first series was released in May 2021 and included 10,255 NFTs and 268 characters, 1242 of which were held by Gary Vee.
The second series was released in April 2022 and included 251 characters and 55,555 tokens. This series was released alongside VeeFriends Mini Drops and Book Games NFT projects.
This article will cover what VeeFriends are, how they work, who created them, how you can buy and what VeeFriends season two brings to the table.
What is VeeFriends?
VeeFriends is an NFT collection created by Gary Vee. The series one collection is based on 268 characters hand-drawn by Gary, each of which was inspired by human traits he admires.
The original collection consisted of 10,255 NFTs; however, 12% of the supply was held by Gary Vee and is referred to as G.O.O. (Gary Originally Owned).
The NFTs take the appearance of cartoon animals, bugs, and unique characters, each with different backgrounds and features. These are then divided into three categories: access, gift, and admission, each of which gives holders different benefits.
Access tokens provide direct access to Gary Vee or other holders.
Gift tokens offer unique experiences created by Gary Vee and his team.
Admission tokens provide holders a three-year access pass to VeeCon and are the most common in the collection.
As of October 2022, the highest-selling VeeFriend was a Watchful and Attentive Embarking Ape, which sold for 105 ETH (around $333,807) to Wu-Tang Clan. The project currently has a market cap of $133.5 million and a floor price of 4.96 ETH.
How Does VeeFriends Work?
VeeFriends series one consists of 10,255 tokens, categorized by access tokens, gift tokens, and admission tokens. Here’s how they work.
Access tokens are broken up into four categories: one-to-one- group, competition, and scholarship. Ninety of these tokens offer in-person access, and 210 offer virtual access.
There are 165 group access tokens, where investors can spend time with GaryVee or other VeeFriends holders. These tokens include:
- Ten Breakfast Bat tokens for in-person access
- Ten Lunch Lady Bug tokens for in-person access
- Ten Dinner Deer tokens for in-person access
- Ten Brunch Bear tokens for in-person access
- 125 Hangout Hawks tokens for virtual access
There are 108 one-on-one access tokens, each offering a unique experience. For example, courtside seats at sporting events, a wine shopping experience, and other one-to-one experiences with GaryVee. Other tokens include FaceTime calls with Gary; five tokens give holders access to events where GaryVee is a speaker.
There are 22 competition tokens, allowing holders to compete with GaryVee in a pre-chosen game. Games include basketball, chess, bowling, and more.
There are five Sorcerer Scholarship tokens, which investors must apply for to be accepted. If accepted, holders will receive mentorship from Gary Vaynerchuk.
Out of the 10,255 VeeFriends tokens, 555 are Gift Goat tokens. These tokens give holders three years of access to VeeCon. They’ll also receive a minimum of six physical gifts annually for three years. Each Gift Goat was hand drawn by Gary and can be verified on VeeFriends.com.
Admission tokens make up the largest percentage of VeeFriends, with 9,400 tokens in total. Each character has 40 tokens with different rarity levels, the rarest of which is “Epic,” of which only two exist for each character. Other levels include very rare, rare, limited, and core levels.
The tokens come with a three-year access pass to VeeCon.
There are forty tokens in differing rarity levels and a total of 9,400 tokens, making this category the largest within the VeeFriends NFT universe. The rarest category is “Spectaculars,” of which only one token exists. “Epic," the next rarest, as only two.
Additional categories include very rare, rare, limited, and core levels that gradually increase in numbers.
Who Created VeeFriends?
VeeFriends was created by Gary Vaynerchuk (GaryVee,) a serial entrepreneur and content pioneer. Vaynerchuk is the chairman of VaynerX, CEO of VaynerMedia, VaynerSports, and four-time New York Times bestselling author. He has an estimated net worth of $200 million.
Gary was one of the first entrepreneurs to realize the potential of cryptocurrency and NFTs, first acknowledging the trend in 2014. He’s since launched VeeFriends and VaynerNFT, a project designed to help brands create their own NFT collections.
VeeFriends was created by Gary to help pioneer the future of NFTs, with Gary stating that NFTs will change the way we interact online.
VeeFriends Series 2 NFTs
VeeFriends Series 2 was released in April 2022 and included 55,555 tokens which originally sold for 0.33 ETH ($995.) Holders of Series 1 NFTs had the opportunity to claim a Series 2 for free, claiming the same character they already own.
As the collection has more NFTs, GaryVee launched the collection at a lower price than the first to give more people opportunities to buy. The floor price for Series 1 is 5.96 ETH, pricing many investors out of the collection.
The project was released in four mint periods throughout April:
Friends List (32,000 Supply) | 4/18/22
Series 1 Free Claim (10,255 Supply) | 4/18/22
Public Mint (10,000 Supply) | Date: 4/25/22
15 New Characters (3,300 Supply) | Date: 4/27/22
After release, many VeeFriends increased in value, for example, Adaptable Alien #13905, which sold for 42 ETH. This one-of-a-kind NFT featured an alien character with a Glitch Emerald background.
How to Buy VeeFriends
You can buy VeeFriends on several NFT platforms, including Bybit and OpenSea.
To buy, open your platform of choice and connect your cryptocurrency wallet (MetaMask is a good option for this.)
Make sure your wallet has the correct amount of ETH to complete the transaction and place a bid on an NFT or “Buy Now” to receive it instantly. Before you buy, check the transaction fees to ensure you have enough ETH to cover the whole transaction.
Final Thoughts: Are VeeFriends A Good Investment?
Regarding utility, VeeFriends are one of the most valuable NFTs on the market. With each NFT, you’re guaranteed at least one benefit, from FaceTime calls with Gary himself to tickets to sports games.
Series 1 of VeeFriends has continued to increase in value since its release, making them a good investment for all investors, even if they’re not interested in cashing in on their reward. Series 2 hasn’t seen the dramatic rise in value that the first collection had; nonetheless, the project has maintained its value and sold out, suggesting its value could increase in the future.
However, VeeFriends aren’t necessarily for everyone. If having a chat with GaryVee isn’t your thing, other collections, such as CryptoPunks, offer great investments without the same utility.
Over the next few years, NFTs with unused benefits will likely continue to rise in value as their number continues to decrease. Therefore holding an NFT with a redeemable reward may be a good investment.