Gary Vaynerchuk’s vision for the future of NFTs

NFT

Non-fungible tokens (NFTs) will go far beyond the digital collectibles and works of art they are today, according to an industry insider.

Gary Vaynerchuk (aka Gary Vee), the entrepreneur behind the media company VaynerX and NFT collection VeeFriends, said in a recent podcast interview with TechCrunch that NFTs have a much broader purpose than simply being collectibles,

According to Vaynerchuk, the real-life use potential of NFTs is perhaps the most important thing that NFT artists should take more seriously when developing projects.

For example, Vaynerchuk said he believes NFTs will grow more in areas like ticketing, contracts and title insurance, rather than just being digital collectibles.

He also compared the evolution of the Internet, which he says used to be called the “information superhighway,” with the much broader scope it encompasses today.

“Today we know the internet for much more,” said the NFT maker.

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 to create “a universe” in digital form remains.

“I want to create a universe and I thought NFTs technology was an incredibly fun way to start doing that,” Vaynerchuk said in the interview.

As an entrepreneur with a successful background in e-commerce and the emerging web3 space, Vaynerchuk’s insights carry some weight in the evolving NFT landscape, and his call for NFTs to move beyond mere collectibles could mean that the future exciting possibilities for these unique digital assets.