Tag Archives: NFT

Cecily Strong’s Kimberly Guilfoyle Hijacks Trump’s NFT Grift – Rolling Stone

The cold open of ‘Saturday Night Live’—the last before the holidays, and Strong’s final episode ever—featured James Austin Johnson’s Trump scamming his fans with pricey NFTs.

Prior to the start tonight’s Saturday Night Live, the sketch-comedy show announced on its Instagram that this would be Cecily Strong’s last appearance on the show after 11 years of hilarious service.

But before we could get to her big send-off, SNL dropped a cold open featuring Donald Trump (James Austin Johnson) hawking his NFT collection—a choice that even got the former president roundly mocked by some of his closest allies.

“We call them nifties cause they’re so neat,” Trump explained. “They feature incredible artwork pertaining to my life and my career. For example, when I was an astronaut, or riding a big elephant. Trump cards are each ninety-nine dollars. Seems like a lot, seems like a scam, and in many ways it is, but we love the Trump cards. We just love them. You can also get ‘em for free by just going online and looking at them. Maybe taking a screenshot. I don’t know.”  

“And the best part is: each card comes with an automatic chance to win an exclusive mystery prize where you get to pick anything out of this nice box,” he continued, holding a crate overflowing with classified information.

Trump then introduced his “third least embarrassing child,” Donald Trump Jr. (Mikey Day), to help him with the sales pitch.

“I know what you’re thinking: ninety-nine dollars? You can get two grams for that!” Don Jr. exclaimed, before introducing a Christmas CD he’s selling from his fiancée, Kimberly Guilfoyle.

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With that, Cecily Strong’s Guilfoyle emerged in a Christmas-red dress.

“Thank you! And I know you’re gonna love this Christmas album that I’m calling, Now That’s What No One Calls Music!” she said. “And I guarantee you’ll SLEEP IN HEAVENLY PEACE!”  



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Kevin Hart, Gwyneth Paltrow, Madonna, Jimmy Fallon Sued For NFT Endorsements – Deadline

Looks like a good old fashion cash grab celebrity endorsement has become a bit more fraught when it comes to the digital marketplace nowadays.

Less than a month after the likes of Larry David, Tom Brady Gisele Bundchen, and Stephen Curry were sued for bringing their well compensated star power to pitch now collapsed cryptocurrency firm FTX, a new class action filed in federal court aims to take the Golden State Warriors superstar and a pantheon of big names to the financial woodshed over shilling Bored Ape Yacht Club NFTs for hidden payoffs.

It’s an action that turns the spotlight uncomfortably not just on Curry again, but also Kevin Hart, Madonna, Jimmy Fallon, Justin Bieber, Paris Hilton, Serena Williams, DJ Khaled, Gwyneth Paltrow, and more. Along with Universal TV also being named as a defendant, high profile music manager Guy Oseary is specified as the brains behind the whole alleged big bucks scam.

“Defendants’ promotional campaign was wildly successful, generating billions of dollars in sales and re-sales,” says the lawsuit from Adonis Real and Adam Titcher filed on December 8 in U.S. District Court in California. ”The manufactured celebrity endorsements and misleading promotions regarding the launch of an entire BAYC ecosystem (the so-called Otherside metaverse) were able to artificially increase the interest in and price of the BAYC NFTs during the Relevant Period, causing investors to purchase these losing investments at drastically inflated prices,” the jury trial seeking 10-claim suit adds (read it here).

Essentially, on their various platforms, through public statements and in Fallon’s case on The Tonight Show in late November 2021, the celebs praised the Yuga Labs backed BAYC NFTs to the public by claiming to be customers themselves. Now, the allure of non-fungible tokens may have dimmed considerably ( a.k.a. nosedived) in recent months, but to BAYC buyers jumping on board last year, they quickly proved “losing investments at drastically inflated prices.”

“The truth is that the Company’s entire business model relies on using insidious marketing and promotional activities from A-list celebrities that are highly compensated (without disclosing such), to increase demand of the Yuga securities by convincing potential retail investors that the price of these digital assets would appreciate,” the 95-page fraud complaint states.

With the Oseary-backed crypto company Moonpay working with Yuga to covertly slip payments to the promoting A-listed talent, the whole scheme saw Hart, Fallon, Paltrow give BAYC NFTs the seal of approval without the celebs revealing the often hefty compensation they were receiving.

“During the Class Period, Defendants engaged in a plan, scheme, conspiracy, and course of conduct pursuant to which they knowingly or recklessly engaged in acts, transactions, practices, and courses of business that operated as a fraud and deceit upon Plaintiffs and the other members of the Class,” the document declares. “In truth, the Executive Defendants and Oseary used their connections to MoonPay and its service as a covert way to compensate the Promoter Defendants for their promotions of the BAYC NFTs without disclosing it to unsuspecting investors,” it adds

A spokesperson for Comcast-owned Universal TV said the company does not comment on legal matters. “In our view, these claims are opportunistic and parasitic,” a Yuga Labs spokesperson said in a statement today. “We strongly believe that they are without merit, and look forward to proving as much.”

Represented by San Diego-based attorney John T. Jasnoch, plaintiffs Real and Titcher have defined the potential Class in what could be a very pricey action as all those who invested in “Yuga Financial Products” between April 23, 2021 and now. They are looking for “actual, general, special, incidental, statutory, punitive, and consequential damages and restitution.”

And that will be in cold hard U.S. Treasury printed cash, not crypto, if you know what I mean?  



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Hyped Mystery Square Enix Game Turns Out To Be NFT Junk

Image: Square Enix

While several big gaming companies have flirted with the idea of non-fungible tokens, none has embraced the crypto scam with as much blind confidence as Square Enix. Now the Final Fantasy maker has finally revealed its first NFT stunt, Symbiogenesis, crushing fan hopes that the previously leaked name was actually for a long-awaited resurrection of cult-hit horror RPG Parasite Eve.

“NFT Collectible Art Project SYMBIOGENESIS Untangle the Story Spring 2023,” Square Enix tweeted on Thursday. A short teaser revealed the logo art alongside some upbeat electronic jazz. Announced at the Web3 Conclave event at India’s Game Developers Conference, Symbiogenesis will be hosted on the Ethereum blockchain and allegedly tell a story about characters whose art players can own as NFTs.

“The art can be used for social media profile pictures (PFP) and as a character in a story that takes place in an alternate world where the player can ’untangle’ a mystery by completing missions that revolve around questions of the monopolization and distribution of resources,” a press release reads. You can’t make this up.

While the beloved JRPG publisher’s crypto ambitions are nothing new—the company announced a Cloud Strife NFT as an expensive collectible add-on earlier this year—the Symbiogenesis reveal is hitting some fans especially hard because they thought the name hinted at the return of Parasite Eve. The RPG thriller literally revolves around the symbiosis of a parasite and its host, and despite a brilliant PS1 game and decent sequel, the series has been dormant since The 3rd Birthday on the PSP back in 2010.

Today’s Square Enix tweet has already been roundly ratio’d, with Parasite Eve fans collectively shaking their heads in disbelief. But will it cause the publisher to finally revaluate its plans and put the NFT cringe pipeline on hold? Who can say. Square Enix is clearly having an identity crisis of sorts at the moment.

This year it sold sold its American studios behind Deus Ex and Tomb Raider, told investors it was open to partial buyouts of its other studios, and flooded the market with a ton of JRPG sequels, remakes, and remasters, while barely giving any of them time to breathe or, apparently, a marketing budget. And now: Symbiogenesis.

      

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NFT Gaming Psycho Advocates Turning Human Players Into NPCs

Photo: Education Images (Getty Images)

A common thread linking my complete revulsion for all things blockchain and AI is the sheer inhumanity of it all. Devotees of these techbro causes are so focused on technology, profits and market forces, while remaining oblivious to their effects and consequences, that at times it feels like they have become completely disconnected from the human experience.

We’ve covered this to death over the last couple of years, from failed NFT experiments to the looming spectre of AI-generated art, but today I wanted to draw your attention to one of the most extraordinary things I have ever seen committed to print in the name of future technology.

This terrific feature on NFT and crypto gaming, focused mostly on Minecraft servers and Axie Infinity (womp), is by Neirin Gray Desai, and you should definitely read the whole thing over on Rest of World for a great—if also incredibly bleak—look at the markets surrounding “play to earn” games.

But there’s one section that truly stands out, and made me stop dead in my tracks reading it:

Mikhai Kossar, a chartered accountant and a member of Wolves DAO, a group that consults with NFT gaming projects in the early stages of their development, told Rest of World that some players will always go wherever they can make more money. “They will play Pac-Man if they can earn more,” he said.

According to Kossar, NFT renting mechanisms in play-to-earn games are important to keep them accessible to poorer players. “You have people that have money, but don’t have the time to play the game, and on the other hand, you have people that don’t have money but have time,” he said.

He sees a future, however, where guild ownership and management could upend the model of wealthy Western players managing those in low-income countries. “Filipinos could band together to buy some assets and then rent them out to themselves and make money that way,” he said.

But he also envisions NFT games that could exploit the wealth gap between players to deliver a different experience. “With the cheap labor of a developing country, you could use people in the Philippines as NPCs (“non-playable characters”), real-life NPCs in your game,” said Kossar. They could “just populate the world, maybe do a random job or just walk back and forth, fishing, telling stories, a shopkeeper, anything is really possible.”

Let me be very clear here when I say I wish nothing but the worst for everyone involved in this group.

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Melania Trump stays mum on Mar-a-Lago search as she promotes NFT business

“Just learned that agents went through the First Lady’s closets and rummaged through her clothing and personal items. Surprisingly, left area in a relative mess. Wow!” Trump posted on Truth Social.

“She cared, but not like he cared,” said a person familiar with the former first lady’s response.

The feds being in her bedroom, her closets and her bathroom skirted a bit too close to her independent orbit. But the former first lady has not been provoked enough to make a public statement about the search, or what it turned up. Instead, her public statements — through her Twitter account — have focused on her most apparent passion since leaving Washington: NFTs.

CNN reached out several times to Trump for comment on this story and did not receive a response.

“She’s private, and she’s protective of her son and her home,” added the second person.

The warrant was explicit about the rooms and areas the agents could search, and it included any space the former president frequents, says a person familiar with the details of warrant’s execution. The Trumps have separate bedrooms in their 3,500 square feet at Mar-a-Lago, three people familiar with the layout tell CNN, but Melania Trump’s bedroom and closets are just down a short hall from the former President’s sleeping quarters and home office.

Though put out and annoyed that strangers went through her curated and expensive collection of clothes and shoes and bags, say those who know her, she was — and remains –characteristically quiet.

“Why would she say anything?” says a person familiar with Trump’s longstanding taciturn communications strategy. “Her thinking is, if she’s quiet, it will just go away,” says this person.

Trump’s few recent public sightings include a visit to a Manhattan hair salon.

The coolness also stems from a fundamental certainty that Donald Trump’s possessions, however obtained, would not be found in her bedroom or closet.

“She would never allow him to keep his stuff in her room, and he would frankly never ask,” says one of the people.

“(Melania Trump) has always considered what Donald does to be separate from her,” says another person who has known the Trumps for several years. “Decisions he makes about his business are his decisions, not hers.”

The former first lady keeps her attention on NFTs

The business of being a former President of the United States who remains in the headlines has occupied Donald Trump. As focused as he has been over the last year and a half — as Republican kingmaker or fending off investigations — Melania Trump’s post-White House life has been less high profile.

Though out of the public eye, Trump has since early this year placed significant attention on a business called USA Memorabilia, using her Twitter platform — she has a personal account with 2 million followers and an “official” office account with 124,000 followers — to promote NFTs created and sold by USA Memorabilia.

Of the 50 or so tweets Trump has posted since mid-February, almost half have been retweets of those posted by USA Memorabilia’s Twitter account, which has fewer than 500 followers, or her own tweets plugging the NFTs on the site.

“It’s weird,” says a former Trump adviser of the former first lady’s promotion of a for-profit business. “To be so blatant about making money from USA-themed collectibles.”

Two people familiar with Trump’s foray into NFTs say she has been advised of late by Marc Beckman, a longtime friend and the husband of fashion designer Alice Roi, who designed a handful of outfits for Trump during her tenure as first lady. Beckman has for many years run a marketing and branding agency but has recently pivoted to the world of cryptocurrencies and how to profit from the new era of tech-based collectibles. Beckman in 2021 released a book called “The Comprehensive Guide to NFTs, Digital Artwork, and Blockchain Technology.”

Several attempts to reach Beckman by CNN were not successful.

There is no outward identifiable link between USA Memorabilia and the former first lady, however the only two accounts the Twitter account follows are hers, and the majority of the items sold feature Melania Trump, or her husband. Multiple attempts by CNN to contact representatives for USA Memorabilia have gone unanswered.

The collections released on the company’s website are government-adjacent topics such as the National Parks Collection, the Valor Collection — focused on the branches of the US military — and the POTUS Trump Collection, which are NFTs of various moments in Trump presidential history.

One NFT in the latter collection — each of which cost $50 — is of the former first couple with a digitally waving American flag and Mt. Rushmore in the background; another, the “45 First Lady NFT,” features Melania Trump and Donald Trump wearing tuxedoes, an official photograph from their time at the White House, used as their 2020 holiday card.

Though profits of USA Memorabilia NFTs are not publicly available — and attempts by CNN to obtain that information from the company were unsuccessful — the former first lady continues to promote the sales via social media.

“It’s very unusual for a former first lady not to take advantage of her continued power and prestige after she leaves office. But I’ve learned it’s a losing game to try and make sense of what Melania is doing,” says Kate Andersen Brower, CNN contributor and author of “The Residence” and “First Women: The Grace and Power of America’s Modern First Ladies.”

Charitable component of NFT sales still unclear

Also not mentioned on Trump’s tweets promoting USA Memorabilia, the most recent of which occurred Monday, is a charitable component that the former first lady touted back in December of last year, when she first announced her entrepreneurial endeavor into blockchain sales with a $150 digital image of her eyes.

Trump said the sales would instigate a “commitment to children through my Be Best initiative,” and that profits would provide computer science skills to kids who had aged out of the foster care system. However, no delineation of the portion of proceeds, nor confirmation of organizations that would receive funds raised were announced, despite repeated requests by CNN over several months for clarity.

In a May interview with Fox, Trump said she would be giving out scholarships from an initiative she calls “Fostering the Future,” yet only one scholarship has so far been publicly bestowed, the details of which were not publicly released.

“Just as it is in office, there is no rulebook for how much or how little (a former first lady) should do. Each woman has approached it differently,” said Brower of Trump’s unorthodox business model.

First ladies do not get government money to establish large offices after they leave the White House, and after their husband dies, they receive a paltry $20,000 per year pension. Several of the people CNN spoke with for this story speculated Trump is attempting to establish a business separate from those of her husband, who is currently mired in several legal entanglements.

“I would imagine as the wife and mother of his child, she must be worried (about the future),” says the person who has known Trump for many years. “She might at least be a little worried about how her own life will change.”

With one of the largest public platforms in the world, it is challenging to understand then why Trump is backing a little-known digital memorabilia business, when — perhaps like her recent predecessors — she could be establishing initiatives with global influence. To this effect, each of the people who know Trump and discussed her recent activities with CNN were flummoxed.

“To sum it up, I think it’s a wasted opportunity for a former first lady not to stay relevant,” Brower said.

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GameStop is letting someone sell an NFT that references a 9/11 photo

Less than two weeks into its soft launch, GameStop’s NFT marketplace is already courting controversy. Among the NFTs listed on the platform is an artwork called “Falling Man” that was . There’s no mistaking it, the NFT references one of the most iconic photos of the early 21st century. “The Falling Man” is part of a series of images captured by Associated Press photojournalist Richard Drew on the morning of September 11th, 2001. Of the 2,753 people who died inside the World Trade Center and surrounding area that day, it’s estimated that at least 100 individuals fell to their death while the towers were still standing.

“This one probably fell from the MIR station,” says the NFT’s description, referencing Russia’s decommissioned space station. The artwork’s creator is selling two different versions of “Falling Man,” with the cheapest listed at 0.65 Ethereum or about $990. As Web3 is Going Great points out, GameStop operates a curated NFT marketplace. Artists must apply and pass a vetting process before they can list their tokens for sale. The company takes a 2.25 percent cut of sales. GameStop did not immediately respond to Engadget’s comment request.

Artistic theft is a major issue in the NFT space. On platforms like OpenSea where people can mint tokens for free, . While you could make the argument that “Falling Man” doesn’t fall into those categories and that artists should be free to reference past works and tragedies, it’s also true that this NFT trivializes the falling man’s fate, reducing his final moments into something to be sold for a profit.

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Square Enix launches its first NFT project

What had once been a warning of dark times to come is now a reality. Square Enix has finally announced its NFT (or non-fungible token) project after threatening us with the company’s embrace of the controversial and largely reviled-by-gamers blockchain technology.

To facilitate this extraordinary waste of fans’ good-will, Square Enix has partnered with Enjin, an NFT company that will store Square Enix’s tokens on its Efinity blockchain. Starting today, consumers will be able to pre-order a physical action figure that comes with a code redeemable for a digital NFT. There will also be physical trading cards that similarly have a digital NFT component available for pre-order later this year.

If you’re wondering which of its many franchises Square Enix is pulling these NFTs from, well, that’s the worst part. In what is perhaps the most astounding case of “Didn’t read the source material you created,” Square Enix is making its NFTs from Final Fantasy VII— that relatively obscure indie game about a bunch of freedom fighters taking down a corporation that’s killing the planet.

Yes, you read that right. Square Enix is choosing to make its NFTs — a technology known to consume exorbitant amounts of energy contributing to wildly increased emissions and accelerating already out-of-control climate change on a planet that is either on fire, drowned, or melting — out of characters it created who were dedicated to stopping companies from doing exactly what an NFT facilitates.

The math is not mathing.

Currently, there are no images available of what the action figure or the collectible cards will look like or how much they’ll cost. In an environment where gaming-related NFTs are frequently met with swift and furious backlash, on top of the precipitous fall in price of all things cryptocurrency, it is also not known if these FFVII NFTs will have any value other than sentimental.

Square Enix

In the face of an inevitable backlash, Square has chosen to focus on its use of the Efinity Parachain, a layer 1 proof-of-stake solution that touts itself as “eco-friendly” and run by a company committed to being carbon neutral by 2030. It promises to be more power efficient than older Bitcoin or Ethereum blockchain technology, and with bridges that connect different blockchains without relying on them and their energy-hungry ways to operate.

But the planet’s dyin’, Cloud, we ain’t got that kinda time.

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YouTube Star Dr. Disrespect’s NFT Game Charges You To Playtest

Screenshot: Midnight Society

The democratization of game development has long been touted as a fresh, original idea, each and every time a developer does it. From releasing daily public builds to frequently updated Early Access editions, it’s been done many times for many years. The difference with Dr “Herschel Beahm IV” Disrespect’s upcoming FPS project, a battle royale-cum-extraction shooter from his Midnight Society studio? You have to buy a fucking NFT to play it.

Midnight Society’s goal—currently titled “Project Moon”—is to create “the next AAA competitive PvPvE first-person shooter,” which they say they will do “openly and transparently,” via releasing what they’re calling “Snapshots.”

These are effectively vertical slice builds of a game, which would more usually be created by a developer in pre-alpha to try to secure a publishing deal, or to show off during events like E3. Such samples of what a game will offer give an idea of the developer’s ambitions, but in this case will apparently be used so backers—sorry, “Founders Action Pass holders”—can give feedback, and vote for features they’d like to see removed or included. Which is otherwise called “playtesting,” a position developers or publishers pay people to perform, often poorly.

Image: Midnight Society

Midnight Society describes itself as a team made up of “ambitious game industry veterans,” with its leadership team built from Robert Bowling, original member of Infinity Ward and executive producer of Cat Girl Without Salad: Amuse-Bouche, money-man Sumit Gupta, and Beahm himself, a former community manager at Call of Duty studio Sledgehammer Games. It also boasts Quinn Delhoyo, sandbox design lead on Halo: Infinite, who has also worked on multiplayer for previous Halo games and Gears Of War III, and previously had the honor of being a level designer for Duke Nukem Forever.

They’ve already put together a further team of 10 experienced developers, plus a further 12 non-development crew, amongst whom a few have the word “crypto” written through their CVs.

It’s a pretty small team to try to put together what appears to be a battle royale-meets-extraction shooter (think Hunt: Showdown meets Plunkbat), the genres via which Beahm first gained streaming fame. Yet, it’ll be very simple to see how they’re doing, given that every six weeks they intend to release a playable build to those who’ve invested in the project.

“Our high-level gameplay goals are to capture the essence of arena shooter level design,” says Midnight Society’s latest blog, “with the scale and scope of battle royale player counts, and the session-to-session gameplay mechanics of extraction-based shooters.”

The development studio previously attempted to garner attention a couple of weeks back by paying for a pricey Times Square billboard. On it was teased the name of the studio, and little else, beyond a suggestion that some sort of announcement is due July 29. This, it seems, is to be the first “Founders Event,” where those who bought in before the game existed will get to meet up in Los Angeles to, er, “discuss the first Snapshot of the game.” What a time.

Back in March, Beahm and company sold off 10,000 NFTs that represent these Founders Active Passes, for the not-inconsiderable sum of $50 each. Midnight Society claims it received 400,000 applications, and clearly further rounds of selling off such passes will be an intended revenue stream. Half a million bucks for that first round won’t cover the salaries of the current team.

It’s interesting to note that in all the vague descriptions of what Project Moon will actually be, there’s no mention of further cryptoshit. Whether that’s canny marketing, to try to avoid the vast amount of negativity the topic rightly generates, is unclear. But given the hiring of crypto types, it’d not be a surprise to start to see some “Web3″ BS getting mentioned eventually.

Of course, given the promises of transparency, and that backers are allowed to make public video content from the six-weekly builds, we’ll get a fascinating perspective on the project as it goes along. Thanks to those making the odd choice to pay to perform a usually paid development role.

 

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At Gary Vaynerchuk’s ‘VeeCon’, the only way in is an NFT ticket

Those seeking evidence of the recent crypto meltdown need not look to Minneapolis — at least for the next few days.

This weekend, thousands of NFT-holders are descending upon the Twin Cities for Gary Vaynerchuk’s “VeeCon” — a four-day conference bringing together business leaders, entrepreneurs and Web3 evangelists to discuss digital transformation in everything from art to assets.

In addition to being a serial entrepreneur and social media influencer, Vaynerchuk is well known for his early investments in companies, including Facebook and Coinbase.

Vaynerchuk’s “VeeFriends” NFT collection is comprised of 10,255 character nonfungible tokens available for purchase via the cryptocurrency ethereum. Each token includes a “smart contract” with metadata that Vaynerchuk can use to interact with its buyer. Token holders also are given exclusive access to the annual event for three years after the NFT’s purchase.

“VeeFriends” character mascots getting ready for Gary Vaynerchuk’s “VeeCon” conference.

Riley de León | CNBC

Not only is this the inaugural VeeCon, it’s also the first-ever NFT-ticketed event. Token holders access their ticket via a digital wallet on their phones that verifies their ownership of Vaynerchuk’s digital assets.

NFTs are a type of digital asset created to track ownership of a virtual item using blockchain technology. Such unique items could be artwork or sports trading cards — a market that Vaynerchuk became familiar with as a teenager, peddling baseball cards for thousands of dollars every week.

The price of ethereum has recently traded down by as much as 60% from its 2021 peak.

“The timing of VeeCon could not be better,” Vaynerchuk said in his opening remarks at the conference on Friday. “There’s an incredible chapter of Web3 coming this next year. Everyone here is wildly aware that there has been a correction in [crypto] pricing … it’s not fun when your assets go down on paper. It is what it is, but the timing is remarkable because now a lot of good work gets done. A lot of the innovation gets done.”

The event, hosted at U.S. Bank Stadium, features keynote speakers that have recently come onto the Web3 scene, including Snoop Dogg, Spike Lee, Deepak Chopra, Eva Longoria and Mila Kunis, among others.

“Obviously because of who they are, celebrities are going to get a lot of attention and I think they have a responsibility [to educate] with the size of their audience,” Vaynerchuk told CNBC. “Anybody involved in this space has to give a lot of thought to whether or not the short term money is worth the reputational risk.”

VeeCon has also been a boon for the local economy in Minneapolis, which is one of many communities around the country attempting to recover lost tourism dollars from the Covid-19 pandemic. In attendance are token holders from around the world, including India, Australia, Romania, France and Sweden.

“As a local Minnesotan, I’m really proud that the first-ever VeeCon is taking place in my backyard,” said Maha Abouelenein, a local organizer of the event and CEO of media organization Digital & Savvy. “I can’t wait to see all the friendships that are created at VeeCon.”

Still, there’s some fear surrounding the space’s longevity. Bitcoin hit its lowest level since December 2020 earlier this week, under $26,000, and shares of publicly traded crypto brokerage company Coinbase were down by as much as 74% year-to-date this week.

“Right now the overwhelming energy of the space is very short term. I would call it greed. Many are not spending their time on education,” Vaynerchuk said.

“The reality is that all that behavior is going to lead to 97-98% of these current projects losing value over the next 24-36 months because the supply and demand curves will not work out.”

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