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He cautions that while many are eager to jump into the NFT space, building genuine demand requires effort and community engagement. Athletes and celebrities, he argues, must fundamentally care about their audience and actively build connections over time, rather than assume their fame alone will guarantee success in NFT sales.
Branding and NFTs: Strategic Considerations
For consumer brands, Vaynerchuk emphasizes the importance of a strategic approach to NFTs. High fashion and luxury brands, for instance, have the ability to create tokens that represent both their physical products and exclusive experiences, thereby crafting unique narratives around their offerings.