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18 April 2021

SNL Auctions NFT Parody Skit as...an NFT - Decrypt

SNL Auctions NFT Parody Skit as...an NFT - Decrypt


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Underlying the Ethereum blockchain is a distributed ledger system, which is a ledger held on many computers across the world, which simultaneously record and verify everytransactionon Ethereum’s blockchain. .

NFTs are tokenized digital assets.

Because of thesmart contracton which NFTs are built, they are non-fungible assets (that’s where the acronym NFT comes from), meaning they can’t be exchanged for an identical item of an identical value.

Its first foray into digital assets proved to be a historic auction for both digital artists and auctioneers: EVERYDAYS sold for an unprecedented figure of $69.3 millionto NFT whale Metakovan. 

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