Since launching in 2021, VeeFriends has stood out not just as a collectible-first NFT project, but as a brand deeply committed to building long-term value, character IP, and utility for its community. At the center of that effort is Andy Krainak, who started as an intern for Gary Vaynerchuk over a decade ago and now leads the growing VeeFriends universe as its President.

In this conversation, Andy shares how the team approached NFTs from day one with a utility-forward mindset, introducing conference access, physical rewards, and onchain loyalty long before many others in the space. We talk about their collector base, the challenge and strength of having a largely web2-native audience, and the strategic choices that guide each new product drop. 

OpenSea: I’d love to hear about your entry point into web3. You’ve been working with Gary Vee for a long time. How did that evolve into VeeFriends?

Andy: I started as an intern for Gary in 2013. Over the next decade, I became his brand director and led the content and brand team. Then, around the time I was looking for a career change, Gary was diving deep into blockchain and NFTs. He decided to launch a new IP, and I became the President of VeeFriends.

OpenSea: Was there a clear moment where you both felt like the right move was to get involved in web3?

Andy: For Gary, it was this perfect combination of his passions: collectibility, character IP, and new tech. He was especially drawn to how NFTs can empower creators, enabling them to maintain creative control, establish provable ownership digitally, and using the blockchain to offer real utility to collectors — giving people access to experiences and community, not just a collectible. That’s what led to VeeCon and the access tokens tied to specific characters.

OpenSea: You were early with that concept of utility and membership. At the time, not everyone had figured out what NFTs could offer beyond collectibility. How did you come to that thesis?

Andy: From the beginning, we wanted to offer value right out of the gate. When we priced VeeFriends Series 1, we looked at it as a ticket to a major conference [VeeCon] for three years — so it had to be worth that. For Series 2, you didn’t just mint a digital collectible; you also got a box of trading cards. That physical-digital connection has always been key for us.

OpenSea: So where are you focused now when it comes to utility?

Andy: We’ve delivered on our initial access and gift promises. For instance, Gift Goat holders received 18 physical gifts over three years. And we’re still doing VeeCon. Even now, for every product drop, we ask: how do we reward NFT holders? For the Topps trading card launch, Series 1 holders got early access at a discounted price, and those cards have appreciated significantly.

OpenSea: How do you measure success these days?

Andy: Revenue and product sales, sure. But also growth on social, in awareness, and especially in our collector base. What’s exciting is how we’re onboarding people through physical products and content. We’ve had fans go from watching Gary on Twitch, to discovering our trading cards, to buying their first NFT. That’s a very different path than most web3 brands.

OpenSea: Totally. It’s rare that someone’s first NFT is also their only NFT. But I’ve heard that’s common in your community.

Andy: Yes. A big portion of our community owns only VeeFriends. We saw it in holder overlap data. That’s both a strength and a challenge. But we’ve leaned into it by continuing to build character IP and utility. And our holders tend to stay. Around 50% of Series 1 holders minted and have never sold.

OpenSea: That kind of long-term holding is pretty uncommon. I imagine your focus on IRL utility and physical products helps.

Andy: Definitely. It’s easier to onboard people into NFTs when there’s a clear value prop like access, experiences, real-world perks. And we’ve kept it diverse: plushies, pins, trading cards, a children’s book, and now comics. We’re building character stories, and that opens up new entry points for people.

OpenSea: You guys have launched so many interesting products and collectibles. How do you strategically decide what to launch next?

Andy: Two things: it has to be authentic to us, and it has to reach the audience we’re aiming for. We ask: what can we execute well, and what will get people’s attention?

OpenSea: Looking ahead, what’s the future for VeeFriends, and what do you think is coming for the space in general?

Andy: “Brick by brick.” Gary always says this isn’t a flip. We’re building for the next 50 years. We want to grow our collector base across digital and physical. We want people to see our characters like Patient Panda and actually internalize those traits. Comics will help us deepen that connection. And long-term, we hope to build IP that’s on par with the greats.

OpenSea: You’ve also leaned into partnerships and live commerce. Is that a continued focus?

Andy: Absolutely. We want to meet people where they are and they’re not all on crypto Twitter. Live shopping and streaming is huge. Twitch, TikTok Live, Whatnot, that’s where brands are being built. We stream 50–60 hours a week now, and that’s just our starting point. It’s about reaching people, introducing them to the brand, and gently onboarding them into web3.

OpenSea: Love that. I totally get the potential there. Anything else you want OpenSea readers to know?

Andy: We’ve got Series 1, Series 2, and Book Games. More broadly, I’d just say: the community is incredibly passionate, and there’s so much to explore. We’re a collectibles brand building IP from the ground up and we’re just getting started.

OpenSea: Amazing. Thank you so much for taking the time, Andy.

Andy: Thank you! This was great.

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