FACTZ caught up with Gary Vee in New York City to get his take on trading cards, the NY Jets and the business of NFTs. It's a fascinating take.
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00:00 - Good to see you, how's everything, right?
00:01 You look good.
00:02 - Thank you, Brett.
00:02 - What's going on in the world of Gary Vee?
00:03 How's everything with you?
00:04 I know--
00:05 - The Jets are breaking my heart.
00:07 - What's going on right now?
00:08 Is it over or what, this season?
00:09 - Of course it's not over.
00:12 The NFL is a marathon, not a sprint.
00:14 Zach played well the other night, I'm excited.
00:16 Coach Sal, I believe in that dude.
00:18 I'm not done yet, get a win here in Denver,
00:21 and take it from there.
00:21 - Do you still feel confident at Rodgers?
00:23 Like you'll think he'll be at, he's getting older,
00:25 but next year when he plays,
00:26 'cause he says he's gonna play--
00:27 - 39 and 40's the same thing.
00:28 - Yeah, you think he's got it?
00:30 VCon's coming to LA, you excited for this?
00:32 - Super pumped, VCon LA next August,
00:34 already starting to plan a year out.
00:37 The whole VFriends thing is incredible,
00:38 the trading cards, it's taking a lot of Pokemon--
00:41 - Listen man, trading cards, do you still feel like
00:43 that's going in the right direction,
00:44 where it's not gonna hurt?
00:46 - Yeah, I mean, here's the problem with collectibles.
00:48 Art, sneakers, NFTs, trading cards,
00:52 anything that people collect, 99% of them go to zero.
00:57 So when people talk about them, they talk in headlines.
01:00 But 99% of sports cards, 99% of art goes to zero.
01:05 But Andy Warhol and Jackson Pollock don't.
01:09 99% of sports cards go to zero,
01:11 but Michael Jordan rookie cards don't.
01:15 99% of NFTs go to zero, but VFriends won't.
01:18 99% of sneakers that we all wear aren't collectible,
01:23 but 1% goes on StockX.
01:25 So I think when people talk about collectibles,
01:27 they're undereducated on how they all work.
01:29 Antiques, 99% of stuff that's sold at Sotheby's
01:33 down the street, and Christie's in Midtown,
01:36 don't sell, like they don't make it to those auction houses.
01:40 So I think, the way I think about them is,
01:43 cult cars, watches, it's all the same game,
01:47 but people lump them, trading cards.
01:50 They don't do that with art.
01:53 They're confused about the actual game of collectibility.
01:55 - So how do we make those NFTs,
01:57 a lot of people lost money, but how do we make them--
01:59 - I gotta go, go ahead.
02:00 - How do we make those NFTs work?
02:02 - People have to execute demand.
02:04 It's like anything else, 99% of startups go to zero,
02:11 but people keep investing, investing in the right ones.
02:13 - I love it, buddy, good to see you, all right.
02:15 Gar, the metaverse, we still believe in it,
02:17 or what's the deal with metaverse?
02:18 What are your thoughts on it right now?
02:19 - You know, if you look at every video I put out,
02:21 I've been thinking that it's five to 10 years away,
02:24 so VR is still a little ways away.
02:26 - What about the real estate in the metaverse?
02:28 - Same thing, until there's people there,
02:31 nothing's worth anything if there's no people there.
02:33 - Yeah, what's the best investment
02:35 and the worst investment you ever did?
02:37 - The worst investment was not investing in Uber
02:39 in the first round, it cost me a lot, a lot, a lot,
02:42 a nine figures, and the best investment
02:44 was definitely Facebook and Twitter.
02:46 I mean, I invested in those companies in 2006.
02:49 You know, it was pretty spot on.
02:52 - One thing about you, a lot of people don't know about you,
02:54 you were on the board at Bojangles.
02:56 - Yes.
02:57 - Tell me what made you want to get involved with Bojangles,
02:59 'cause it's one of my favorite restaurants out there.
03:00 - I love the food, you know, when you want a little escapism
03:05 and a little, you know, couple calories, it's okay,
03:08 you know, couple times a year, couple times a month,
03:11 and then more importantly, I wanted to learn QSR.
03:14 I wanted to learn the franchise, E, franchise, or model
03:19 for future business behavior that I'm up to.
03:21 - What should people expect from Bojangles in the future?
03:24 - Well, listen, I think we've got a really interesting
03:26 marketing infrastructure now, we've got a new CMO
03:28 that I'm extremely excited about.
03:30 We're expanding outside of just the southeast,
03:32 so I think it should be a major player
03:34 in the chicken space.
03:35 - And lastly, your favorite thing on the menu?
03:37 - Probably, probably the new chicken sandwich.
03:42 I mean, I know there's a hundred of them out there,
03:44 but I think it's the best.
03:45 - I love the sweet tea.
03:46 - Yeah, the sweet tea's the best.
03:47 - Good to see you, buddy.