Janet Yellen

‘Janet Yellen’ on Saturday Night Live Skit to Explain NFTs

Janet Yellen

Iconic comedy show Saturday Night Live (SNL) did a skit about non-fungible tokens (NFTs). The explainer features Kate McKinnon as U.S. Treasury Secretary Janet Yellen as well as an Eminem-inspired rap. 

The NFT craze in digital art and collectibles continues to go mainstream. And now every SNL viewer knows what an NFT is.

NFT made its debut on the long-running comedy sketch show in the form of a 3-minute explainer-turned-rap skit. In the skit, US Treasury Secretary Janet Yellen – portrayed by Kate McKinnon – is speaking to a university economics class, when a student asks her what an NFT is. 

What follows is an Eminem-inspired rap portrayed by cast members Pete Davidson dressed as Batman’s sidekick Robin, and special musical guest Jack Harlow as a janitor.

“Non-fungible means that it’s unique. There can only be one like you and me,” Harlow rapped. “NFTs are insane, built on a blockchain. A digital ledger of transactions, it records information on what’s happening. Once it’s minted, you can sell it as art.”

The SNL skit clearly shows how NFTs, the buzziest segment of the crypto universe, have captured the public’s attention.

“It also could be a sign of a market top, or simply the approach of one of the four horsemen of the apocalypse. Still, there’s no doubt NFTs have gone mainstream,” wrote CoinDesk in a report about NFT making it to SNL.

 

Salesforce’s Benioff Invests in Chainalysis 

On the other hand, blockchain analytics company Chainalysis announced it raised $100 million through its Series D funding round. Paradigm led the round, with additional backing from  Salesforce CEO Marc Benioff, who invested through his investment fund Time Ventures.

Salesforce CEO Marc Benioff has not been vocal about Bitcoin and cryptocurrency. However, TIME Magazine, which Benioff acquired last year, recently posted a job listing for a chief financial officer who is “comfortable with bitcoin and other cryptocurrencies.” The popular bi-weekly publication also auctions its first-ever NFTs. 

Founded in 2014, Chainalysis offers crypto investigation and compliance solutions to global law enforcement agencies, regulators, and businesses as they work together to fight illicit activity like money laundering. Chainalysis, along with its competitors like Elliptic and CipherTrace, aims to legitimize the crypto market.

As another funding news, crypto venture capital firm Dragonfly Capital launches a new $225 million fund. The Dragonfly Fund II looks to mainly invest in DeFi, NFT, Ethereum Layer 2 solutions, and more projects. 

Over the years, Dragonfly Capital has added to its portfolio many renowned projects, including dYdX, Compound, Maker, and StarkWare. Operating from Beijing and San Francisco, the investment firm is currently looking to hire people in Singapore as well.