Eminem is set to sell his first NFT, following the recent Saturday Night Live parody sketch that used one of his songs to explain the current craze.
In the sketch, broadcasted last month, SNL regular Pete Davidson and Jack Harlow used Marshall Mathers’ hit ‘Without Me’ to explain the idea behind the NFT (non-fungible token) craze to viewers.
Davidson is seen in the video donning a Batman & Robin-style costume as he parodies the track to explain the trend, with Harlow also appearing in the clip as a caretaker.
“Here’s the thing about NFTs, it’s a non-fungible token you see,” Harlow raps in the clip. “Non-fungible means that it’s unique, there can only be one – like you or me.”
After the clip was shared on Twitter by SNL, Eminem responded with a ‘thinking’ emoji, hinting that he was set to plan some sort of release around the viral parody sketch.
Then, he shared a tweet from NFT marketplace Nifty Gateway, revealing that Eminem’s first NFT is set to go on sale this Sunday (April 25). More details are set to be announced soon.
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See the tweets below.
— Marshall Mathers (@Eminem) April 19, 2021
— Marshall Mathers (@Eminem) April 20, 2021
NFTs have regularly been in the news recently, with the music industry and artists such as Grimes, The Weeknd, Kings Of Leon getting involved in the craze.
Speaking recently about the NFT craze, Calvin Harris said that the cryptocurrency form has the potential to “completely revolutionise the music industry”.
An NFT, as NME‘s Mark Beaumont explained recently in a blog, is a form of cryptocurrency asset. Most cryptocurrencies are fungible (or ‘spendable’) tokens; you can exchange them for other cryptocurrencies or spend them on goods where they’re accepted.
“Non-fungible tokens act like digital gold bars, rare trading cards or paintings kept in safe storage – they’re kept on the blockchain (basically a Cloud for financial assets, but where everyone with an account keeps a note of what you own) in your name but you can only sell or trade them as collectibles,” he wrote.
However, they are not without controversy – it was revealed recently that the sale of the digital items can have a huge effect on climate change, and Nils Frahm is among the artists to have criticised the format, calling NFTs “the most disgusting thing on the planet.”