Non-fungible tokens, or NFTs, have been a media, marketing and cultural obsession for weeks now. (See Ad Age’s recent coverage, including “How an ad collector paid $2 for a Pringles NFT, and sold it for close to $1,500” and “Are non-fungible tokens dead? Time releases three NFT covers.”) The common thread is that while a lot of people have been trying to explain(-ish) what they are, no one can quite fully make sense of the phenomenon. Not even U.S. Secretary of the Treasury Janet Yellen—or at least the version of her played by Kate McKinnon in a new “Saturday Night Live” segment (below).
Fortunately, cast members Pete Davidson and Chris Redd, along with musical guest Jack Harlow, are on hand to rap about NFTs in a parody of Eminem’s “Without Me.” Davidson poses the questions—“Now what the hell’s an NFT? / Apparently cryptocurrency / Everyone’s making so much money / Can you please explain what’s an NFT?”—which Redd attempts to (elaborately) answer, prompting McKinnon’s Yellen to declare, “OK, well, that was just a list of complete nonsense—but you’re not totally wrong.” And then Harlow swoops in to definitively nail NFTs (more or less).
The segment first aired as a part of the weekend’s episode of “SNL” on NBC.