The recent NFT craze is the latest story in the tech world to make the masses ask, “wtf is that?” With the digital art assets fetching multi-million dollar sums and NFTs beginning to pop up more and more in the music industrySaturday Night Live enlisted musical guest Jack HarlowPete DavidsonKate McKinnonKyle Mooney, Chris Red, and more for parody Eminem‘s “Without Me” that asks the question on everyone’s minds: “What the hell is an NFT?”

With McKinnon playing Secretary of the Treasury Janet Yellen and Davidson adopting a version of his typical exaggerated Millennial goofball persona—this time in Em’s Robin getup from the “Without Me” video—the supposed economic experts try to understand the trend. Redd, playing a Morpheus-style take on Dr. Dre‘s persona from the original video, comes in next to list off some of the many outrageous NFTs that have sold for big money. The older professor and Secretary still can’t quite grasp the concept so Harlow, the episode’s musical guest, steps in to add some clarity with his own (actually pretty solid) explanation verse.

Watch the SNL “NFTs” clip below. If you’re still confused about NFTs, check out a handy guide here.

“NFTs” Eminem Parody – SNL 

[Video: Saturday Night Live]