New Dapps Report: VeeFriends Series 2

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The Next Chapter of the VeeFriends Saga

In the May 2022 edition of DappRadar’s New Dapps Report, we look at popular and interesting NFT collections, and this time we cover VeeFriends Series 2. The New Dapps Report serves as an executive overview and analysis of financial metrics for NFT collections. 

This New Dapps Report is part of a series of executive reports that provide readers with a high-level perspective of promising randomly generated NFT collections. The report focuses on financial metrics, including sales activity and price analysis, and distribution metrics like Unique Holders Ratio and Whale Concentration Index. It additionally dives into whales’ behavioral patterns and social and technical overviews. 

VeeFriends Series 2 (VF2) is the second installment of the successful VeeFriends project, launched in April 2021 by Gary Vee. VeeFriends Series 2 is a collection of 55,555 NFTs that evolved from the designs of the original collection. Our regular readers will instantly recognize him. For the newcomers, Gary ‘Vee’ Vaynerchuk is an entrepreneur, media personality,  marketing guru, and social media pioneer. VeeFriends is part of Gary’s greater ecosystem of projects which includes Vee Friends, Book Games, or the Vayner Pass to bring people together, establish a long-lasting community and bring utility to the holders. 

Please do not consider this document as financial advice. 

Data updated on: May 18, 2022

Table of Contents

Key Takeaways

  • VeeFriends Series 2 is the 12th most traded collection in the last 30 days with a volume of over $68 million.
  • The floor price of the collection appreciated by 85% since minting on April 25th, while the average price appreciated by 160%
  • After the launch of VeeFriends Series 2, the official VeeFriends Twitter average new daily followers increased by more than four times.

Financial Overview

VeeFriends 2

VeeFriends V2 – New Chapter in the VeeFriends universe

Blockchain: Ethereum

Launch date: Apr 25, 2022

Edition size: 55,555 – Limited Edition

Traits: 5

Attributes: 346

Floor price: 0.62 ETH

VeeFriends S2 was issued in several instances. Holders of a Series 1 VeeFriends NFT and wallets who won the ‘Friends’ List’ lottery by burning a Book Games NFTs had the privilege to mint a VeeFriends S2 ahead of the public mint on 18 of April. Book Games are NFTs that provide utility within the Vee Friends ecosystem. People could acquire them by purchasing twelve copies of Gary Vee’s book ‘12 and a Half’. ‘Friends List’  winners were allocated 32,000 NFTs, while the Series 1 holders were given 10,255. The public mint on April 25th has made 10,000 S2 NFTs available to the public. Two hundred thirty-five of said 10,000 NFTs were supplied via an ‘Emerald auction’ on OpenSea. Lastly, on April 27th, a further set of special 3,300 NFTs was made available. 

VeeFriends S2 generated nearly $17 million in sales in its first week, and the highest trade volume of $13 million happened during the public mint on April 26th. The daily trade volume has subsided sharply in the ensuing days.  

The floor price, which is currently 0.62 ETH, has appreciated by 85% from the mint price. The average price rose sharply in the first week, reaching as much as 1.34 ETH, and is currently settled at 0.87 ETH, an appreciation of 160% from the mint price. 

Added Utility

Gary Vee is known for understanding the value of utility in the NFT space. His projects have a tradition of rewarding long-term holders with utility in his future projects. A good example of this is the Book Games NFT. People who bought twelve copies of his ‘’Twelve and a Half’ book were eligible to mint Book Games NFT, which at the time had unknown utility. It was later revealed that these NFTs could be burned to receive various goods like VeeCon tickets, a chance to get on the ‘’Friends List’’ lottery to mint VeeFriends S2 early and exchange them for NFTs out of Gary Vee’s private collection

This trend continues with VeeFriends Series 2, as it does not start with much utility. The original purchasers of VeeFriends S2 can elect to have an IRL box of collectible cards shipped to their doorstep, one package for every minted NFT. The cards are part of the ‘Compete and Collect’ game, where players can compete against each other by flipping each other’s cards. The winner gets to keep the prize card of the opponent. Besides the collectible game, there has not been any utility announced at this time. The VeeFirends S2 NFT, unfortunately, does not grant access to the upcoming VeeCon. Nonetheless, the VeeFriends ecosystem boasts a robust utility factor.

Social Awareness and Engagement 

VeeFriends series 2 shares the social channels with series 1. VeeFriends main social channel has a strong social presence. The Discord server is public and has 374,318 active users, which indicates a well-populated server. The server has a simple onboarding procedure but has active moderators that filter newcomers. This is done to reduce spam, bots, and inconveniences. The discord is very lively and Gary is also actively present.  

VeeFriends Twitter went live in February 2021 and currently has 249,219 followers. The account experienced 10.4% of its total growth in the last 30 days, gaining an average of 865 new followers per day. During the Minting event around April 18th, Twitter saw an average increase of nearly 1387 new users per day; however, shortly after the minting process ended, the average growth dropped sharply to the prior baseline average of 285 new followers per day. This indicates that the minting attracted a significant amount of followers to the channel. 

VeeFriends 2

VeeFriends S2 has 15,674 unique traders, which is the highest that we covered in our series of New Dapps Reports, even beating out PhantaBears. This unusual trading activity has to be taken into perspective as the collection supply is larger than usual, 55,555 compared to 10,000. The collection has also been traded for over three weeks, giving it plenty of time to accrue a large following. Another critical factor to consider is the previous success and notoriety of Gary Vee himself and his past NFT projects like VeeFriends S1.

Team Overview 

VeeFriends is headed by Gary Vee and developed by his company Vee Friends, LLC, which owns all the intellectual property rights to the NFTs in this project. 

Gary Vee is head of Vayner Media, a media marketing company that services fortune 500 companies like Unilever, Mondelez, Pepsico, and Johnson. Gary has also launched many successful NFT projects, such as the Vayner Sports Pass and the FlyFish club, which we previously covered in our New Dapp Reports.

VeeFriends 2

Technical Overview

VeeFriends S2, like most other projects, stores its metadata in the form of ERC-721 NFT Token. The data is stored via  IPFS rather than fully on-chain. This type of storage is common among NFTs. It is used to reduce the load on the network because visually rich data dens use more space than text data. 

  • Audit status: no audits performed yet
  • Storage: NFTs are stored as ERC-721 tokens on the Ethereum blockchain, and visuals live on IPFS for immutable ownership.

Whale Wallet Analysis

VeeFriends Series 2 currently has a Unique Holders Ratio of 41%, indicating a relatively concentrated collection. The whale concentration ratio of the collection is relatively low at 1.50%, and there are no known whales among the top five holders. Together these statistics indicate a low risk of trading data and prices being manipulated by affluent holders.


VeeFriends S2 is the newest NFT project launched by Gary Vee. Gary is a veteran among the NFT community who found multiple successful collections with a recurring theme of interdependent utility with each other. It is the second installment of VeeFriends which got launched in May 2021. 

The second season has accrued over 68 million in the last 30 days and is the 12th most traded collection in that time period. However, the prices increased rapidly during the first few days after mint. In the ensuing days, the price action has ebbed, and the floor price currently sits at 0.62 ETH, which is an 82% appreciation from the mint price, while the average price is at 0.87 ETH, which is an appreciation of 160%. 

Currently, the collection does not offer any utility other than the art and optional trading card game. Knowing Gary, the NFTs may have some hidden utility revealed later, as he did with VeeFriends S1  and BookGames. In his own words, ‘BooksGames are forever’.

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