Why did I buy a VeeFriends NFT?

The first, and main, reason is because I am a learn-by-doing person. I wanted to understand block chain, smart contracts, and NFTs better and this loked like a golden opportunity for me to do this.

I believe that electronic/digital/automated smart contracts are where we are headed and it will happen faster than you might imagine. I think NFT tokens will be like the visual file folder label for accessing those contracts.

The NFT token I bought is a drawing of the Happy Hermit Crab. When I click on it, a file opens up that shows when I bought it, what I paid for it, and identifies me as a string of numbers tied to my digital wallet which I used when I paid for it in ETH. It also shows that I have admission to the 2022, 2023, and 2024 Vee Conferences to be hosted by Gary Vaynerchuk.

I am fairly certain that in the future it will also show whether or not I attended those conferences. If I decide to sell this token to someone else, that transaction will also be recorded in the file along with a string of numbers that indentifies the new owner, when they purchased it and how much they paid for it.

NFTs will be key players in the legal system.

Everything will be swiftly and automatically recorded without needing a notary to stamp it and without someone having to note everything down.

Artists will use NFTs to license their work. NFTs could be automated to withdraw access at the end of the term or present an option to renew. Any kind of lease could be automated to end access at the end of the leasing term in the absence of continuous payments.

There will be a huge demand for people who can create NFTs. Notaries should probably start now to learn this stuff.