Explaining NFTs As Simple as Possible in Under 60 Seconds #Shorts

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While NFTs are a relatively new technology for many, the major groundwork for how NFTs function has existed and been used by people for a considerably decent amount of time. If you have ever bought a character skin in a game like Fortnite or Counter-Strike, you have essentially experienced what it is like to buy an NFT and why there is value in owning “digital goods”. The ability to have self-expression and “show-off” your cool skins to your friends are the very same appeals people have with NFTs. Not to mention all the real world benefits that will be attached to NFTs like free burritos from chipotle if you own the gold burrito NFT! #Shorts


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Gary Vaynerchuk is one of the world’s leading marketing experts, a New York Times bestselling author, and the chairman of VaynerX, a modern day communications company and the active CEO of VaynerMedia, a contemporary global creative and media agency built to drive business outcomes for their partners. He is a highly popular public speaker, and a prolific investor with investments in companies such as Facebook, Twitter, Tumblr, Venmo, Coinbase, Slack, and Uber. Gary is a board/advisory member of Bojangles’ Restaurants, MikMak, Pencils of Promise, and is a longtime Well Member of Charity:Water. He’s also an avid sports card investor and collector. He lives in New York City.

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Responses (32)

  1. Mysterious Bear

    "what's a non fungible token?"
    "You know those fungible tokens in videogames, like skins?"
    "Yes"
    "Those fungible tokens are what non fungible tokens are."

  2. Lapaloozie

    0_0

  3. Prisilla OK

    I’m not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turned out lucrative for me.

  4. American Made

    This guy looks beyond stressed and tired.

  5. Yes Sir

    Mr V we need to be friends sir

  6. This is nuts

  7. Cherie' Frank

    Thank you!
    💗🙏🤗

  8. Dequan Rosario

    You sir are a monster love it

  9. Simple Hidden Secrets.

    He dead made that simple

  10. Idon'tevenknow

    Sooooo it’s just dlc? Like anything else but way over priced. How would this become everything? Like there is a massive different in paying for a skin in a game for $5 that you can have fun with and several million dollars for a static image. For an average consumer, there is no reason to buy an NFT.

  11. TheKingofXboxlive

    But everything can be changed in the smallest way like a dot or change the colour?

  12. 『Ritesh Senpai』

    NFT ? Ignore and live your life

  13. Gary looking old AF, is he still gonna be going at 75?! 😂 probably

  14. Legendary Leon

    L

  15. FendrZwag

    So basically an nft is just something you can buy, period. Or am I wrong?

  16. Barnabasil

    I wish to no longer be part of this species.

  17. Lawrence Carter

    Screen shot nft ..change slightly and it's yours..sell away

  18. Equipo Secreto

    Ok so but what are nft

  19. qadri rulzdood

    You just know it that people who support NFTs are the same people who like Supreme.

  20. ItsTehTwiitch

    difference is with skins you can’t screenshot the skin so you have it for free, with most nft’s you can get it for absolutely free

  21. frankenclouds !!

    Homelessness and poverty hasn't been solved in real life but not to worry… Metaverse said it was gonna be a utopia for everyone…. 😂😂😂🤦🤦🤦

  22. Asce Blayze

    I literally understood it because of the last part since I work at chipotle. People would love that shit it would sell crazy

  23. Mariel Rego

    No, that is not an NFT! NFT is a non-fungible token, TOKEN. Token has nothing to do with the in game item. NFTs do not solve any problem. It is sad he talks about it so confidently although he has no idea

  24. I am only me

    Hahahaha

  25. Marcoroni Gootz

    So essentially the value is essentially based on demand almost. Sort of like art, people pretty much just say what an art piece is worth without truly having something to back it up???

  26. TinyGreenSlime

    Hey it's Mr bean

  27. Radioactive P0986

    People who say "so they are usless" well in a sense yes they are but you gotta understand where there is hype there is money. If it makes me money, who cares if its useless or not🤣

  28. He should have explained how Bored Ape is useful, or going to be useful in the future.

  29. JmanAA99

    The tech that NFT uses is great and has tons potential. The state of the art is what is trash about NFT right now. Jpeg of stupid monkeys is cancer.

  30. Carlos Arias

    That’s the type of utility I need, i need a golden burrito 🌯

  31. Aviral Janveja

    It looks like something that would work in combination with the Meta Verse.

  32. djzacmaniac

    NFTs are crypto coins that have been assigned individual serial numbers. Useless as a currency, or for anything else, except pyramid schemes. Gary V is so hard dicked for NFTs because he runs pump-n-dump NFT projects. Mystery solved…