Plug in the Possibilities

After three years, Licensing Expo kicked off Day 1 at Mandalay Bay Covention Center with the keynote, “The Power of Possibilities,” helmed by Pam Kaufman, president, global consumer products and experiences, Paramount and Gary Vaynerchuk, chairman, VaynerX, chief executive officer, VaynerMedia and creator and chief executive officer, VeeFriends.

For Kaufman and the crowd in the Licensing U Theater better understand how Vaynerchuk got to where he is today, he reflected on his beginnings. When he was three, Vaynerchuk came to the U.S. from the Soviet Union. His parents’ love and work ethic inspired him to become an entrepreneur.

“If you are lucky enough to be born in a family that may not have a lot of money but has plenty of love, you are so lucky,” says Vaynerchuk.

There is a difference between Vaynerchuk the person and Vaynerchuk the brand. His vision and passion is shared on social media, where he has amassed a loyal following. He feels that some of his popularity comes from speaking only about the things he is knowledgeable about and thinking about the impact of who he publishes.

“My brain has [always] thought, ‘Why would anyone watch this?’ [when it comes to uploading],” says Vaynerchuk.

Vaynerchuk is now getting into the live events industry VeeCon, a multi-day event in Minneapolis, Minn., created by Vaynerchuk, is exclusive to attendees who can only participate with an official VeeCon NFT. The event only strengthens Vaynerchuk’s beliefs about the future of NFTs. Vaynerchuk has also shared his thoughts about NFT with License Global in 2021 about the new technology in a webinar, “WTF NFT.”

While Vaynerchuk acknowledges that NFTs are misunderstood, he firmly believes that the future for NFTs is bright and will introduce a culture shift especially felt in the licensing industry.

“NFTs will change this show in 10 years,” says Vaynerchuk.

For Vaynerchuk, he likened the current NFT boom to the cartoon boom in the ’80s. Companies saw a chance to monetize and grow intellectual property by featuring their brands on TV. Vaynerchuk points out that content creators are still doing that now but on the metaverse and Web3.

More than anything, Vaynerchuk is excited about the future.

“We have the capacity to change,” says Vaynerchuk. “Humans inspire me so much.”