You may remember a few weeks ago when Saturday Night Live (SNL) did a skit using an Eminem-style parody to explain Non-fungible Tokens (NFTs)? The hilarious video involved comedians Pete Davidson and Chris Redd rapping alternative lyrics over Eminem’s 2002 hit “Without Me.”
The rapper himself responded to the video with a chin-scratch emoji, seemingly indicating he didn’t understand the content. However, recent developments seem to point to a different result – was the chin scratch an indication that he was thinking about how he could capitalize on the new NFT craze by releasing one of his own?
It now appears that could be the case.
A Nifty Gateway Collaboration
Earlier today, Nifty Gateway – the exclusive digital platform of the Winkelvoss-backed Gemini Exchange – announced that “@Eminem is dropping this Sunday – April 25th on #NiftyGateway!”
Precisely what that means is unclear but one would naturally assume it means he’ll be releasing some kind of NFT since that’s what Nifty Gateway does. Eminem responded minutes later from his own Twitter account, retweeting the Nifty Gateway post with just a simple lightbulb emoji added. Clearly, he believes the NFT launch is a good idea, following on the heels of several other A-list celebrities like A$AP Rocky, Kings of Leon, Grimes, and The White Stripes.
The NFT craze is not all just fun and games it seems, as the technology also has some useful – if somewhat boring – real-life use cases. Computer giant IBM has recently partnered with intellectual property specialist IPwe to see if NFTs can improve the struggling patent market.
IPwe is now investigating how it can use NFTs as a means to secure patents on the blockchain using IBM Cloud for hosting. With less than 5% of the current patent market valued, IPwe founder Erich Spangenberg believes there is a huge opportunity in blockchain to better identify and authenticate patents.