It's all very "Inception"-like. The folks at "Saturday Night Live" answered their own question, "What the hell is an NFT?", well enough to be able to make a non-fungible token out of it.
- A skit in last week's show sought to explain non-fungible tokens, the hottest segment of the cryptocurrency universe (for the moment). It starred SNL regular Kate McKinnon as U.S. Treasury Secretary Janet Yellen, featured Pete Davidson portraying the rapper Eminem and was set to his music.
- Now a segment of that sketch is itself an NFT and is being auctioned on the OpenSea marketplace.
- The NFT up for bid captures a snippet at the end of the sketch in which four characters walk out of a classroom single file and then the background morphs into a street with the characters now on a crosswalk. Because there aren't enough layers to this already, the scene channels another work of art, the Beatles' album "Abbey Road."
- Adding further to the Russian nesting doll vibe, last week's skit showed this very segment being minted as an example of how things are turned into NFTs. Now it hass actually happened and it's all very meta.
- Proceeds benefit @stopAAPIHate. Bidding ends just before midnight Monday.
- At press time, bidding was at 8.5 wrapped ether (US$17,618.29).
- Next up will be an NFT of the auction of the NFT of the sketch about NFTs...
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.