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JPMorgan Gave Away NFTs at an Event This Week. One Is Now Listed for 420 ETH
One prankster is looking for $1.8 million for Jamie Dimon’s first mint. Why not?
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.
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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.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
