The market for non-fungible tokens and digital collectibles has been growing at a breakneck pace, with projects like Dapper Lab's NBA Top Shot seeing user activity and transaction volumes soar.

Since the beginning of the year, the burgeoning market — which runs the gamut of sports collectibles to digital cats — has seen more than half a billion in weekly trade volumes, according to data compiled by The Block.

On this episode of The Scoop, Gary Vaynerchuk — the Internet personality, entrepreneur, and CEO of VaynerMedia—broke down what's taking place beyond the hype and why he thinks NFTs are going to be the internet's next big thing after the development of social media.

Vaynerchuk is best known for his angel investments in tech giants like Facebook, Twitter, Venmo, and Uber.

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Angel investor Gary Vaynerchuk explains the disruptive power behind NFTs 25:57 Share

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Angel investor Gary Vaynerchuk explains the disruptive power behind NFTs