The Difference Between Short Term and Long Term NFTs | DCL Blogger

Community Strategies

Building and nurturing communities around NFTs is crucial for long-term success. Gary Vaynerchuk emphasizes his history of community building as a key factor in his success, highlighting the importance of understanding human dynamics and being willing to "get my hands dirty" 1. He believes that his experience in influencer culture and his ability to build from the ground up will be more significant than his collecting skills. Navigating the NFT space requires thoughtfulness, especially in unprecedented times where rapid financial transactions can impact markets 2. Gary reflects on the challenges of making public statements in such a volatile environment, noting, "I'm petrified to say anything because I'm not... Everyone's so on tilt."

   

Influencer Impact

Influencers and celebrities play a significant role in shaping the NFT landscape. Gary acknowledges the power of big IPs like Pokemon and Disney in the NFT space, emphasizing the need for well-structured economies and smart contracts 3. He draws parallels with sports cards, where the quality of the release often outweighs being first to market. The influence of reviews and community feedback is also crucial, as Gary appreciates the support from listeners who leave reviews, recognizing their role in building a podcast's reputation 4. He notes, "People that leave reviews... mean the world to me."