Howard Stern Can't Grasp Concept of NFTs; Asks, 'What Are You Buying?'

Radio personality Howard Stern seems to be a little confused about what NFTs are—like many other Americans. In an attempt to understand the concept, he jokingly said his head was going to explode.

Non-fungible tokens (NFT) are digital, unique tokens used to represent the ownership of items like art, collectible items and even music, not the items themselves. Sound confusing? Stern thinks so.

On Monday's episode of The Howard Stern Show, the host joked about his confusion.

"I don't even understand what an NFT is," Stern said on his SiriusXM radio show. "It's so stupid I don't even know how to say it."

When his cohost Robin Quivers tried to explain the NFT concept, Stern was at a loss for words.

"It's a digital representation of something," Quivers said. "It's the only one that will ever be created. No one will ever be able to get their hands on the original. So this is the only version of this that you can have."

Quivers offered a further explanation saying if Stern were to buy, for example, an NFT of a Beatles song, he wouldn't own a piece of paper the lyrics were written on nor any rights associated with the song. She said he'd be buying the "digital representation" of the tune.

Stern then said the entire thing sounds like a scam.

"What belongs to me?" Stern asked confused. "My head's going to explode—it's insane. I don't know what they're talking about. Like, I'm old school."

Howard Stern
Radio personality Howard Stern seems to be a little confused about what NFTs are—like many other Americans. In an attempt to understand the concept, he jokingly said his head was going to explode. Getty Images

Unlike Stern, some celebrities are hopping on the NFT bandwagon.

Reese Witherspoon, Eva Longoria, Gwyneth Paltrow, Serena Williams, Ozzy Osbourne, and Jimmy Fallon have all taken part in the fad, changing their Twitter profile pictures to NFT artwork.

Over 360,000 people own NFTs, and they're gaining more traction each day, according to an analysis by Financial Times and the blockchain analysis platform Nansen. The digital tokens are stored on a blockchain, where people can see how much an NFT was purchased for.

The most expensive NFT sold to date was created by the digital artist known as Beeple. His piece, "Everydays: The First 5000 Days" sold for a whopping $69.3 million through an auction at Christie's.

There are rising concerns over people stealing NFT artwork. Nothing is stopping an individual from taking someone else's artwork and minting it as their own NFT. There is a Twitter account with over 15,000 followers dedicated to helping artists who have had their art used without permission in an NFT.