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Saturday Night Live Finally Spoofed a Rap about Non-Fungible Tokens

kawaiidaigakusei at 12:00AM, March 29, 2021

The moment Pete Davidson dressed in a make-shift Robin costume asking a question about an NFT (one of the more recent buzzwords of the Internet) during a late night comedy show was shocking, but not entirely surprising.

The term Non-Fungible Token (NFT) has been thrown around on many podcasts by comedians, celebrities, and tech millionaires in recent weeks. Most individuals are still learning more information on this new phenomenon.

According to an article written on The Verge earlier this month, “NFTs are designed to give you something that can't be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork). To put it in terms of physical art collecting: anyone can buy a Monet print. But only one person can own the original.”

The Internet is home to so many one-of-a-kind relics and the luckiest ones sometimes become a Meme. An NFT of the famous gif of Nyan Cat, a gray cat with a pink pop tart body flying with a rainbow trail through space, has been sold for close to six-hundred thousand dollars. Celebrities create NFTs with their name, while musicians sell entire albums to the highest bidder. I have even seen original pieces of digital works auctioned off as non-fungible tokens for the general public. Does a content creator benefit from creating a sought after piece of digital art?

It sounds as if the entire Internet is having a liquidation sale, with ownership of the most famous memes and people being picked up first. In one song lyric, Pete Davidson raps, “An NFT it’s like Real Life Monopoly.” It will only be a matter of time before we find out if NFTs are here to stay or if they were only a temporary fixture to satiate boredom.

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Ozoneocean at 7:09PM, March 29, 2021

It's a good idea to try and get in on this somehow... but I don't see that it'll be any good for most of us unless you're popular enough to make something that someone really, really wants.

Banes at 8:57AM, March 29, 2021

Very interesting! I'd never heard of this, so thanks for the introduction. I'm going to have to look into this to understand it. Like marcorossi says, I don't get how an original digital product is any different from a copy...but if I can get six hundred grand for one, I wanna get crackin' on making one! xD

Gunwallace at 1:40AM, March 29, 2021

There's already one comic creator using this format ...

marcorossi at 1:33AM, March 29, 2021

If the artist retains the copyright, there is no sense in which a .png with a NFT attached to it is more the original than the same .png without the token. It seems to me that it is the same phenomenon of bitcoin: a lot of people have a lot of money to spend, but there are not good real investiment options for various reasons, so this money goes in bitcoin, gold, Picasso paintings, and now NFT. IMHO.

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