It will be Eminem’s first NFT after the recent Saturday Night Live parody sketch mocked the latest craze with his song.
Watchers were told the idea behind the non-fungible token craze in the sketch, which was broadcast on SNL last month. Pete Davidson and Jack Harlow used Marshall Mathers’ smash hit “Without Me” in the sketch.
The video also includes Harlow, who plays a caretaker, dressed as Batman and Robin as Davidson explains the trend.
“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.”
In response to SNL’s tweet, which featured the viral parody sketch, Eminem responded with a ‘thinking’ emoji, hinting he was planning something around the sketch.
He then followed up with a tweet from NFT marketplace Nifty Gateway, which stated that Eminem’s first NFT was set to go on sale this Sunday (April 25). More information about the release will be released soon.
Several artists have been involved in the NFT craze, including Grimes, The Weeknd, and Kings Of Leon.
During a recent interview about the NFT craze, Calvin Harris stated that cryptocurrency has the potential to “completely revolutionize the music industry”.
NFT, explained the NME’s Mark Beaumont in a blog post recently, are virtual assets. Unlike real assets, which are often traded on exchanges, cryptocurrencies can be spent on goods.
“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.
Despite this, NFTs are not without controversy, as recently it was discovered that digital items will have a huge impact on climate change. The NFT space continues to grow in popularity among digital artists and creators worldwide.