Gary Vee’s Veefriends Secures $50 M in a Seed Round

Gary Vaynerchuk’s NFT universe is about to get bigger as Veefriends secure $50 million in a seed round led by Andreessen Horowitz (a16z). The popular NFT creator and investor first climbed to the top echelons of NFT kingpins last year after earning $90 million in 90 days.

Since then, Gary Vee, as he is constantly referred to in the NFT space. Gary has gone on to partner with prominent multinational brands with his signature NFT characters.

a16z Joins Veefriends

Gary Vee

a16z One of the leading venture capital firms promoting the shift from web2 to web3 has joined VeeFriend’s growing portfolio of partnerships after leading the NFT project’s huge seed round.

VeeFriends will use the funds to support its intellectual property ecosystem, which includes 283 VeeFriends characters, as well as, fund the development of its creative, technical, and experiential operations.

Chris Lyons remarking on his company’s investment in VeeFriends mentions that not only is Vee Friends an exciting NFT project, but it also feeds offline and in-person utility through curated experiences like VeeCon, which brought over 7,000 NFT ticket holders together for a week of illuminating conversations on web3, live music, and networking. VeeFriends defines the ethos of entrepreneurship, and they were humbled by the opportunity to support Gary and Veefriends’ community on this journey.

Also read, Gary Vee to receive NFT tribute

VeeFriends NFT characters are among the most popular in the NFT ecosystem, collecting over 200,000 ETH in primary and secondary sales since embarking in May 2021. The company has unleashed more than 10 collaborations, including its alliance with Mattel Creations to launch VeeFriends UNO Deck last December. Uno Deck is a popular American card game possessing 108 cards.

Gary Vee also revealed the launch of BOOK GAMES, a Layer 2 NFT project featuring 125,000 burnable tokens in a game that’s played permanently, along with a token exchange.

The fundraising for Gary Vee’s collection comes in despite the challenges created by the crypto winter. While market activity hints at a declining trend for NFTs and other crypto instruments, venture capital activity indicates otherwise.

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