Share this article
Investor Gary Vaynerchuk Says NFTs Are Like the Dot-Com Bubble
"We are in a very similar place to where we were with internet stocks in 2000," the CEO of VaynerMedia said of Tuesday.
Updated Sep 14, 2021, 12:27 p.m. Published Mar 16, 2021, 3:47 p.m.
Non-fungible tokens (NFTs) are in a bubble, VaynerMedia CEO Gary Vaynerchuk said Tuesday on CoinDesk TV, though he doesn't doubt the technology will have staying power.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- NFTs are a "replication" of the dot-com bubble, Vaynerchuk said.
- "A lot of people talked about the internet being a fad," he said. "In reality, the internet was this game-changing revolution of technology but a lot of the early projects were just overpriced on the excitement."
- Explaining the upside of the technology, Vaynerchuk explained how a book author can use NFTs to issue unique works and rewards to boost their brand and relationships.
- When asked if he saw bitcoin becoming the currency of the world, Vaynerchuk said: "I really don't know. The reason I've gone harder onto NFTs than currency is because I enjoy it more."
- Earlier this year, Vaynerchuk participated in a $50 million funding round for Sorare, a platform that provides digital soccer collectibles in collaboration with big-name teams.
- Watch Gary Vaynerchuk speak at Consensus by CoinDesk 2021, May 24-27. Register here.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
Top Stories
