The craze behind non-fungible tokens, or NFTs, has seemingly reached peak parody after NBC’s famed Saturday Night Live sketch comedy featured it in a skit with United States Treasury Secretary “Janet Yellen.”
In last night’s show hosted by former cast member Maya Rudolph, Yellen — portrayed by comedian Kate McKinnon — is speaking at a university economics class when a student asks her to address exactly what are non-fungible tokens through the medium of rap.
“What the hell’s an NFT? Apparently cryptocurrency. Everyone’s making so much money — can you please explain what’s an NFT?”
The sketch options an absurd listing of some actual and invented NFTs in the crypto area, together with photographs of U.S. Supreme Court docket Justice Chuck E. Cheese and Household Man character Peter Griffin dunking a basketball. The solid of characters primarily consists of Peter Davidson as the scholar portraying rapper Eminem dressed as Batman’s sidekick Robin, Chris Redd’s Morpheus from The Matrix franchise, and a hapless “man with a mop” — performed by musical visitor Jack Harlow — who supplies essentially the most succinct clarification of the tokens.
“Non-fungible implies that it is distinctive,” he rapped. “There can solely be one such as you and me. NFTs are insane, constructed on a blockchain. A digital ledger of transactions, it information data on what’s occurring. As soon as it’s minted, you’ll be able to promote it as artwork.”
Highlighting the sudden surge in the variety of uncommon paintings, animation, and different photographs in digital marketplaces, the comedy rap sketch could trigger some in the crypto area to recall Elon Musk’s musical NFT providing this month. The billionaire and Tesla CEO posted a video clip taking part in a tune which featured a pair of diamond palms beneath the moon with Shiba Inu canine circling. Musk later stated he did not “really feel fairly proper promoting” it as an NFT.
Within the remaining seconds of the Saturday Night Live sketch, the three characters in addition to “Yellen” are minimize out of the nonetheless body and pasted right into a background of the Abbey Street crossing from the Beatles’ album, revealing an NFT promoting for 420 Ether (ETH) — roughly $718,000 on the time.