At a recent event, JPMorgan gave out NFTs. One is now on the market for 420 ETH

• JPMorgan has jumped headfirst into non-fungible tokens (NFT). Attendees of the megabank’s inaugural Crypto Economy Forum for TradFi Investors event
• Big personalities including FTX exchange CEO Sam Bankman-Fried, Ava Labs founder Emin Gün Sirer, and Coinbase CEO Brian Armstrong spoke at the event
• The value of NFT, according to a source close to the bank, is amusing. Big figures including FTX CEO Sam Bankman-Fried, Ava Labs founder Emin Gün Sirer, and Coinbase CEO Brian Armstrong were among the event’s speakers

JPMorgan has jumped headfirst into non-fungible tokens (NFT). Attendees of the megabank’s inaugural Crypto Economy Forum for TradFi Investors event, held earlier this week at the Wall Street giant’s New York headquarters, received NFTs. According to OpenSea, none have exchanged thus far, but one of the NFT collection’s 69 owners put one up for sale for a stunning 420 ETH, or $1.8 million. It wasn’t them, but we thought it was humorous because it’s now the floor pricing for our free NFT, a bank insider explained.

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Big personalities including FTX exchange CEO Sam Bankman-Fried, Ava Labs founder Emin Gün Sirer, and Coinbase CEO Brian Armstrong spoke at the event. Meanwhile, JPMorgan CEO Jamie Dimon continues to criticize cryptocurrencies, later claiming that they have no inherent worth. Whatever Dimon’s point of view, the so-called TradFi world is rushing headlong into DeFi, NFTs, and Web 3′ at an alarming rate.

In April, the bank’s private wealth section published a study on NFTs.  The JPMorgan NFTs were created on Ethereum’s Polygon layer 2 networks. JPMorgan isn’t the first bank to develop a commemorative NFT; Bank of America did so only a few weeks ago.

The value of NFT, according to a source close to the bank, is amusing. Big figures including FTX CEO Sam Bankman-Fried, Ava Labs founder Emin Gün Sirer, and Coinbase CEO Brian Armstrong were among the event’s speakers.

In recent weeks, JPMorgan CEO Jamie Dimon stated that Bitcoin had no price. Polygon, an Ethereum layer 2 assay, is used to print JPMorgan NFTs. JPMorgan isn’t the first financial institution to produce a commemorative NFT. Bank of America had previously produced an NFT collection.

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.