VaynerNFT’s Web3 Rebrand ‘Cannot Be Ignored’
VaynerNFT — VeeFriends founder and prolific internet entrepreneur Gary Vaynerchuk’s NFT strategic consulting arm — is undergoing a significant rebrand. This follows reports that surfaced last May 2022 of a new Vaynerchuk-centric trademark filing: Vayner3.
Effective today, this arm of Vaynerchuk’s various internet-related ventures is now going by this new name. It marks a significant shift in strategy by the firm, as well as the continued commitment of Vaynerchuk towards NFTs — and Web3 as a whole.
With another crypto winter upon us, this shows the firm’s readiness to weather the storm — and they’re looking to bring along anyone looking to work with them for the ride.
“Vayner3 is doubling down on its belief that Web3 technology cannot be ignored. Every single industry, company, and intellectual property owner will be impacted by blockchain technology. NFT technology will remain a cornerstone of Web3, but the industry is far-reaching. Vayner3 aims to ensure they can bring the most ambitious Web3 concepts to life,” Vayner3 president Avery Akkineni said in an interview with nft now.
Content is key
In 2021, when Vaynerchuk boldly tweeted that 98 percent of all NFT projects “will likely end up being bad investments for many that bought them,” some in the community took this statement as the entrepreneur sowing fear and distrust in the market. So what’s Gary Vee doing now that we’re deep into an industry-wide downturn that’s claimed its fair share of victims?
Building. Despite the market’s current state, the 46-year-old entrepreneur still has his fingers all over the NFT space. If his track record is anything to go by, this vote of confidence could be huge for the community moving forward. Just like how Vaynerchuk bet on e-commerce over 20 years ago, and social media over a decade ago, today the internet mogul is (continuing) to bet on NFTs.
So how’s that been going? As of writing, VeeFriends has recorded sales volumes of over 53,000 ETH since its launch in 2021 — equivalent to over $60 million in today’s dollar valuation of Ethereum. Owners later got the opportunity to attend VeeCon — a celebration of the community Vaynerchuk helped built with VeeFriends, as well as the larger NFT space as a whole. VeeFriends Series 2 has grossed over 22.5K ETH thus far — worth well over $27 million.
A show of commitment
Vaynerchuk has made it clear that, bear market or not, the key to the NFT space’s continued growth is slow, gradual building. Getting more legacy brands and companies to buy into the potentially world-changing technology that is blockchain would be a start. Vayner3 believes they’re uniquely positioned to take that challenge head-on.
Over the last year, the company partnered with a fair share of legacy brands looking to get their first steps into NFTs — and Web3 as a whole — on the right track. Most notably, this includes Budweiser, whom the company launched as its flagship client in June 2021. With this rebrand, the consultancy hopes to expand its services.
“As we celebrate the first anniversary [of VaynerNFT], we took the time to reflect on the ever-changing landscape and the work we have accomplished leading enterprises and IP owners through this next wave of digital innovation,” Akkineni said. “Though the journey began with non-fungible digital collectibles, art, and tokens, the breadth of consulting we’ve done reaches far beyond NFTs. We want our firm’s branding to reflect the entire spectrum of services that our incredible team can provide,” she said.
So what services can Vayner3’s clients expect? According to Akkineni, Vayner3 hopes to give brands and companies the tools to engage in “multi-dimensional Web3 strategies, anchor in driving tangible business outcomes.” This includes “loyalty integration programs, immersive consumer and digital experiences, meaningful philanthropy infrastructure, [and] adopting crypt-currency acceptance,” Akkineni said.
Ears to the ground
Additionally, the consultancy hopes to double down on its education-first strategy to attract new clients. This will be spearheaded by IRL initiatives, such as awareness campaigns at key events like Art Basel and SXSW, as well as the publication of “collaborative educational videos and whitepapers, with the likes of Reddit and NAS Academy,” as mentioned in their press release.
Vayner3 hasn’t just paid attention to the behavior of big enterprises in relation to Web3 the past year, though. They’re also closely monitoring what’s happening on the ground as Web3 technologies gradually enter mainstream parlance.
“We are all about consumer behavior — and that lives in culture. So as consumers’ habits and behaviors change — the way they interact with social media, digital assets, blockchain, and Web3 will change. We are going to be leading those efforts across the industry,” Akkineni said.