WATCH: ‘SNL’ Explains What NFTs Are In New Sketch
Saturday Night Live broke down what non-fungible tokens (NFT) are in a new sketch over the weekend after the crypto-asset recently generated headlines and social media buzz.
“Two Silicon boys were talkin’ outside,” he started rapping to the tune of Eminem’s 2000 hit “Without Me.” Chris Redd joined Davison and offered a rapid-fire “list of complete nonsense.”
Musical guest Jack Harlow, playing a janitor passing by, offered an explanation, “Non-fungible means that it’s unique,” he rapped. “There can only be one like you and me. NFTs are insane, built on a blockchain. Once it’s minted, you can see it as art.”
The sketch ended with the four of them getting Photoshopped onto a background of Abbey Road and was sold as an NFT for “420 ether.”
NFTs are described to be unique, like art or collectables, and are not meant to serve as a currency. They are usually written on the ethereum blockchain, carrying their own unique digital signature that cannot be altered.