The collaboration will mint mortgage documentation NFTs
Matrix Mortgage Global and EZ NFT have announced a collaboration to mint vital mortgage and real estate documentation in blockchain-enabled NFT form.
The partnership will see the Toronto-based brokerage and the Wee-Cig International Corporation subsidiary develop a system that will render key documentation like mortgage deeds, identification, appraisals, and inspection reports into NFTs.
The companies said that through this system, the documentation will be rendered proven, immutable, and non-fungible. This is because in most cases, NFT documentation offers “lasting, uncontested proof of ownership – mitigating genuine risks of forgery, corruption, theft, damage and loss,” the companies said.
Read more: Matrix Mortgage Global – Top Brokerages 2020
“Moving mortgage documentation to the blockchain is a step in the right direction that will certainly open the door to many other applications in the space,” said Shawn Allen, CEO and broker of record at Matrix Mortgage. “Realizing our vision requires a strong and credible partner with a depth of NFT experience and capability. As a division of the first publicly traded company in the NFT space, EZ NFT’s professionalism, reputation and existing capability position them as the ideal partner for us in this exciting endeavour.”
“I’m energized by the potential for our engagement with Matrix Mortgage Global,” said Russell Korus, CEO of Wee-Cig International. “In an industry ripe for disruption, Matrix was the first mortgage lender in North America to accept cryptocurrency for home down payments. Now they are taking their leadership a step further by transitioning critical mortgage documentation to the blockchain.”
More details on the partnership will be announced in the coming weeks, the companies said.