Take Advantage Of The NFT Wave, The Right Way | Interview With Coinbase

some of you are so talented and the right person fell in love subjectively on your art gave you love and you exploded but for the 99.9 percent of you you need to spend the next nine years building community building narrative of who you are as an artist and build up the fact that you even can is something you should be grateful for you've got your perspective i just want to be happy don't you want to be happy why have you doped so deep into nfts i think the biggest reason i've gone so hard into nfts is for me subjectively and intuitively i believe that it is the biggest consumer shift since social media and web 2.0 that that it is very clear to me based on my instincts and my history in business and kind of being a behavioralist now i'm realizing watching what people do that this will happen this has happened and i just don't see a world where nfts are not an infrastructure in our society right now it's very obvious that it's collectibles and art but these are smart contract visualization right so this is homes and leases and i i can't imagine not every ticket being an nft in a decade so once i realized it was this big big i only know one move all in what was that realization for you you know it's funny i was just talking to somebody what was my realization i i can't actually recall the singular piece of content that was the eureka moment but it was december 30th through mid-january this two three week special period of time where between six seven nine hours a day you know if i was really busy at work 7 p.m to midnight if i was a little less you know i was hacking at it cutting a 45-minute meeting to 15 so i could get 30 to get 30 minutes more of what is an nft or a counterpoint to something that i was feeling i think i wanted a well-rounded point of view but i remember the it was very it was i might have been the day before valentine's day i'm remembering it's mid-february where i truly had the true eureka moment where i stood up from my laptop at my kitchen table stood up and said thank you god because i realized that not only did i recognize there was this new big shift like i saw in dot com and like i saw on social but i was a unique position of my career where i had leverage financially for the first time in the three times uh reputation community but most of all it was also about in its first phase collecting flipping knowing like that's what i'm good at i've been training for 40 years in sports cards in comic books in toys in garage sales in premium wine i've been training for this moment my whole life so um the eureka moment happened in in it was happening from december to mid february and there's really no turning back now so like one thing your master has brand building so when looking at brands specifically big brands like what's the biggest potential for them in the nft space and like what does a successful foray look like for a big brand moving into nfts you know if you're a big brand a fortune 500 a fortune 5000 the biggest opportunity is that you you you've learned from social media right social media was a place where brands were too slow and two brands meaning they weren't authentic enough they weren't transparent enough they weren't clever enough they weren't cool enough they weren't relevant enough and that just happened that was 2005-6789 my hope and we'll see because big companies love to do things wrong my hope is that the executives are still there they remember the feelings of how wrong they were about facebook and twitter and instagram and youtube and they say maybe we need to do this differently a i'm already feeling that b here's the big one brands unlike everything you do in marketing where you can hide behind a headline or a fake report when you launch an nft project the entire world has access to the fact of it being successful or not think about that so number one goal and and you know i started a company called vayner nft to work with brands is i'm trying to slow down brands don't do an nft project to get a headline and be like oh we're clever you need to do an nft project that's actually successful and uh my real hope is that people realize that you're now on the record and you're selling something this isn't a marketing campaign it can be a marketing campaign but you still have results and so i'm really excited about it so uh to flip that a little bit for smaller for artists who are just coming into nfps from smaller entrepreneurs what's what's one tip or a few tips you give them uh within in terms of getting started in nfps you know the biggest thing i think about when i think about small artists or entrepreneurs is a kiss the ground right now you are so fortunate to be in a moment like this this is special this is a gold rush you know most of us actually let me phrase all of us were not alive when everybody in new york or st louis were like hey if you go to california you gotta pick and shovel you could get gold like we didn't this is that big of a deal now if you're a historian of the gold rush yes there were many people and still families to this day that trade on uncle tom's great move to going to california back then but there was a lot of people that lost money a lot of people that got sick a lot of people that got depressed so my number one by far point of view is be grateful and patient be grateful that you're at a moment that's this big you are a person that was going to be a graphic designer at a company and now you're famous in making millions that's wild but be patient just like influencer marketing for every charlie demilio and logan paul there's a lot of people in the middle and the long tail that are making a hundred thousand dollars a year doing something they love and that's even more exciting in my mind so you don't need to be a millionaire like ferocious and ex-copy and and people if you're watching right now wouldn't you love to just make art full-time and have a roof over your head and that's amazing that you can do that now because it wasn't easy to make 50 000 in sales and art just two years ago and now it's obtainable number two don't be audacious the number one thing i'm seeing now is artists getting mad they're not successful matt the entitlement is extraordinary just because you're making art doesn't mean people should spend money on it people like gary you're well of course yours is doing well you had a big community i'm like i earned my community i worked for the last 15 years i spent all of 2007 to 2011 15 hours a day answering people on twitter i did that just because you haven't yet that's okay because you can start right now being active on discord and twitter and clubhouse and come to art basel and network but it's gonna take you time it's going to take you time some of you are so talented and the right person fell in love subjectively on your art gave you love and you exploded but for the 99.9 of you you need to spend the next nine years building community building narrative of who you are as an artist and build up the fact that you even can is something you should be grateful for and to kind of wrap up this part of it with coinbase nft coming you know we have tens of millions of users what what do you see happening when potentially 70 million plus people get on board for the nfc economy let there be no confusion and not because i'm sitting here with you all because i'm always on the record there is no bigger thing brewing right now in the space than the potential of what this coinbase thing may be if this hits and you get that much of an influx of first-time users because a platform that people used on the financial side have a very easy way to get into nft because they're playing within the ecosystem that they're accustomed to i mean i'm holding my breath out of excitement by the way because i like to shoot it straight it may not be a windfall maybe a lot of those people but even a million new people is staggering to this space because we're still in the hundreds of thousands and so i'm antsy in the best way meaning i just can't wait for you all to get it done because i just want to see what's going to happen those first 30 days i'm excited for the artists i'm excited for the projects you know i am macro concerned in general that everyone's too focused on the money and and if you think about a lot more people coming in prices will go up and people might even get more about the money and money matters that's how you pay for food you can't tough to trade art right now for a bacon cheeseburger but i i do think that people have to be thoughtful about their behavior um but to answer your question directly the moment is extraordinary and it is one of the big moments of 2022 because if it hits it takes the space to a completely different level thank you so let's switch gears a little bit uh do the behind the wallet thing do you have like your nft collection accessible on your phone where's my phone the gallery i know you have your gallery link let me know if they just like kind of scroll down what we've been doing people is we're getting some shots of them scrolling through their nfts and just like just asking a couple questions about their collection why they bought and stuff so let us know when you got that pulled out the problem is my visual might be a little challenging and i think we need to be thoughtful i'll tell you why so many people spam dropped me see anything that happened do you have like a liked or a favorites gallery i don't but i can give you like one awesome i got an idea i got an idea can you help this now you guys i assume have no problem if it's open c or you do no okay um i think the main important thing is like to get the story behind like why you're gravitating to this project like 100 what's what's your vibe on it and like totally um maybe even some questions like if you had one f and of t to hold on for ever what would it be type of game so i can i can absolutely scroll here and give you i got a great way to start um i'm just gonna riff play with me here for a sec you know when i go through my collection uh you know women and weapons world of women plasma bears um creature world me bits uh brain vomit as i keep scrolling and you know deadheads um swamp verse these are all things on chain monkeys mfr's punk comics curio cards crypto punks ford ape um cool cats they all have stories to me right strawberry.wftwtf avastar's the icon you know as i keep going through these they've all have meaning to me long neck ladies right i remember when i bought them why i bought them um what was on my mind what was i thinking about what got me excited that day lamelo balls collectible is that right like early in sports people of somebody i believed in i was very scared to buy nba top shop because i thought most would go down not because i think nba topshop's amazing i just know how collectible cards work 99 go to garbage because they don't become lebron right so buying lamellae because i thought lamella was going to be a beast right um you know mumbot you know her work uh monkey bet dao i remember thinking oh a casino on the chain with art um you know candy digital which i'm on the board of sports cards similar to nba um you know just it's fun to like scroll through here and think about alpha betty doodles right kind of kids book first time i saw uh wanted to do something around autism like i felt compelled to you know pick those up um koala intelligence agency it was a hot one that popped i'm like could this be the next board ape and i spent a ton of money on the number one rarity one the project is still doing nicely but it didn't become that and boy did i lose a lot of money on that and that's like fun for me i'm like that's a i knew i was taking a high risk high reward bet on that um cool cats events airdrop tokens from owning it that's fun to see in my wallet choose one community yeah yeah which one would you like what's your favorite one that you're a part of one community that i'm most um thrilled to be a part of probably some sort of tie between creature world i would say the following because it's just the truth that i'm not trying to be politically correct world of women creature world brain vomit women and weapons all kind of sit in a very curio cards a little bit but i'm a little less active those four kind of really sit in the same place to me they represent four projects that have real artists they represent four projects that have real artists that have real community that feel to me that the majority of the makeup is not day trading flipping life which i don't think is bad i just think it's bad when people like i'm here for the community but what they're really saying is i just want my bag to go those four stand out as like okay there's a high enough and they got plenty of flippers in those four communities but there's enough people in those communities there's enough people in those communities that i think really care of like i want to own this art for 17 years it makes me want to go in there and and i like going in there when i see the floor dropping because as the elder statesman i like going in there and being like patience right and everyone gets excited because kind of like everyone's too stock broker right now when things are going down their their vibes down and i like going into those communities reminding everybody but you're here for the art so who cares if it's a dollar or if it's four million dollars if you're holding it you're good right and so those four stand out as communities i enjoy being a part of last question if you had to choose one nfc to pass on to your kids that they would never be able to sell what would it be if i had to pick this is the difference between me and drock's ghetto style where we just film regardless of the [ __ ] background noise and us respecting other really amazing creatives that we know prefer to not have that [ __ ] in the background i [ __ ] think it's great that [ __ ] fires me up but i also sleep with a sound machine at max noise so chaos keeps me comfortable i think that'll make sense to all of you um what's that you're ready for bed yeah no [ __ ] trains to this day drock trains like weirdly get me tired because i grew up by a train track in edison and when the train would go out lights out that's how i got into time i think to sound machines i think the reason i like sound machine so much is the thing that consistently put me directly to sleep was when i would hear the train from afar coming out and when it passed that's when i would sleep which is why i live in new york city easily and all that other [ __ ] that's why i'm an entrepreneur i prefer the chaos if i had to give one nft to my kids that wasn't a v friend i would probably give them it's a really tough question i would probably give them my x copy plasma bear there's a project from 2018 there's a pro we also gotta go and find it we'll get it we'll get it we'll get it no you're the best thank you there's there's a project from 2018 called plasma bears that really matters to me one world of women women and weapons mumbot you know my mother is my hero my business hero even though she never spent the day in a business we're going to keep that in the background this time because it is from my heart so i've been very thoughtful and and focused on trying to seek out female artists that i enjoy plasma bears done by a female project in 2018. angelique is no g had five or six or ten different artists make the bears one of those artists was x-copy x copy in the last three four years has gone on to become easily one of the most collectible and most expensive and most sought after artists in the world gary me as a collector loves providence and origin it's why i like nft the fact that somebody did a little project for probably a couple of bucks i don't know the details but went on to become the x copy there's something just everything for me about it it's actually happening right now there's a bunch of kids right now doing stuff that in seven years are gonna be the ones and the stuff they're making right now is grossly underpriced from a collectible historical value female lead project in 2018 x copy made three bears and here's the best part they did it on a side chain that side chain failed layer two it crashed disappeared the bears were on there they gave the community this chain very little time to know that you could get your bears over so many of the bears burn in the ether gone like in essence my favorite stories burned in a fire right like why mickey mantle's rookie cards are so valuable tops threw them in the water so like everything that my collector and origin and providence is happened in this project female base project early by the way burnt lost bears so there's less than there should be and one of the five most important artists made it i figured that out found three x copy full bears because it was like build-a-bear you had to buy the pieces to make the bear i found three clean x copies every arm everybody every heart every head was from x copy i have three clean bears right now they are my prized possession nft youtube watcher what's up it's garyvee first of all thank you so much i hope you're doing super well during these times i also want to ask you please subscribe because my commitment and exploration of youtube is about to explode stories polls more content more engagement more surprise and delight this is the time to subscribe i hope you consider it and i hope i see you soon

Channel: GaryVee

Views: 62,030

Keywords: Gary Vaynerchuk, Garyvee business, gary vee, gary vaynerchuck, garyvee, business, success, entrepreneurship, entrepreneur

Id: AwMJ6bScB2s

Length: 19min 49sec (1189 seconds)

Published: Fri Dec 17 2021

Reddit Comments

[u/theberkshire]

FYI he names the communities at around the 13:00 mark: Creature World, Women and Weapons, World of Women, and Brain Vomit