Here is a collection of NFTs by the Belarusian-American entrepreneur Gary Vaynerchuk and also grants access to the multi-day conference, VeeCon. VeeFriends operates on the Ethereum Blockchain. The platform’s initial launch had 10,255 VeeFriends collectables split into three categories; Admission tokens, Gift tokens and access tokens. These NFTs are registered in the name of VeeFriends LLC — a limited liability company founded in 2021 and based out of Delaware, US.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
Gary’s 10,000+ VeeFriends NFTs are a representation of human attributes and traits that the artist admires along with some of the popular cultural references. His belief is that these characters are the source of happiness and success. There are a total of 268 characters, each of them imagined, created and drawn by Gary himself.
VeeFriends NFT Marketplace Fees
When you make a trade at VeeFriends NFT Marketplace, they do not charge you with a commission. But since the NFT operates on the Ethereum network, users will have to incur gas fees.
The marketplace supports primary sales of VeeFriends after which the user may choose to sell the NFT on other platforms like Opensea and Rarible. All such secondary sales will attract a 10% royalty fee of which Gary pledges to donate 1% to any charity of his choice.
Layout of VeeFriends NFT Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from VeeFriends marketplace:
VeeFriends Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal deposits. However, VeeFriends cannot be bought using either of them. It can only be purchased using ETH.