Gary Vaynerchuk is a well-known entrepreneur who has been working in the digital sphere for over two decades. He recently launched a marketplace for NFTs called Arts Official, which is an Ethereum-based platform for digital artwork.

Vaynerchuk has launched this new venture, partnering with real-world gallerist Vito Schnabel to launch an NFT marketplace.

The marketplace will allow collectors to buy and sell non-fungible tokens through blockchain technology. This will make it possible for collectors to own compositions from influential composer and pianist Philip Glass, art from Francesco Clemente, and Gus Van Sant’s work without spending millions of dollars. 

Vee was inspired to create an NFTmarketplace for artwork because of his partnership with Vito and the ease with which he could get “access to the incredibly high-quality artists that we were going to put on the platform.” 

“That was going to be a major differentiation in the space. At the end of the day, Vito’s ability to curate, and our ability to innovate on the product offerings and the strategy around the art—and create a demand for it—is a winning combo,” Vaynerchuk told Decrypt.

From September 24 to October 4, the first auction will commence, which will include four unique NFTs designed by Italian Neo-Expressionist Francesco Clemente. Each of the NFT pieces sold on the site will come with live experiences; for example, the buyer of Clemente’s Milarepa’s Dream will get a live portrait session with the artist.

VeeFriends, a collection of tokens depicting characters hand-drawn by Gary Vee was launched earlier this year. He has plans to work on VeeFriends for the next 40 to 50 years, and the auction is just one more step in the process. Recently, he has been hinting at a huge announcement for VeeFriends, and sales activity in the project has increased in the previous week.

VeeFriends was introduced through a Dutch auction, priced at 2.5 Ethereum. At the end of August, VeeFriends’ floor price was 9.5 ETH. 

Pavan A

CBW - External Analyst

INDIA