JPMorgan has taken a dive straight into non-fungible tokens (NFT).
The megabank gave away NFTs to attendees of its first “Crypto Economy Forum for TradFi Investors” event, which was held at the Wall Street giant’s New York headquarters earlier this week.
None have traded so far, according to OpenSea, but one of the 69 owners of the NFT collection put one up for sale for a whopping (and cheeky) 420 ETH, or $1.8 million.
“Wasn’t us, but thought it was funny because now it’s the floor price for our free NFT,” said someone close to the bank.
Speakers at the event included such big names as FTX exchange chief Sam Bankman-Fried, Ava Labs founder Emin Gün Sirer and Coinbase CEO Brian Armstrong.
Meanwhile, JPMorgan CEO Jamie Dimon continues to throw shade on crypto, recently stating that digital currencies have no intrinsic value.
Whatever Dimon’s view, the so-called TradFi world is aping into decentralized finance (DeFi), NFTs and “Web 3″ at an alarming clip. The bank’s private wealth division took a peek at NFTs in a report back in April.
The JPMorgan NFTs were minted on Ethereum layer 2 network Polygon.
JPMorgan is not the first bank to issue a commemorative NFT; Bank of America created one about a month ago.