Wee-Cig International Corp., a company focused on identifying and growing top tech companies in emerging markets, has announced that its controlled subsidiary dba, EZ365, plans to join forces with Toronto-based Matrix Mortgage Global to mint critical mortgage and real estate documentation in blockchain-enabled NFT form.
EZ NFT will support Matrix Mortgage Global in a shared vision of digitizing the mortgage process on the blockchain by building a system to mint key real estate documentation, including mortgage deeds, identification, appraisals and inspection reports as NFTs. As a result, the documentation will be rendered proven, immutable and non-fungible.
The transition of physical documentation to NFT form will enhance efficiency and reduce fees while providing improved access to critical parties in real estate transactions. The benefits will be even greater in other geographies where NFT documentation will provide lasting, uncontested proof of ownership – mitigating risks of forgery, corruption, theft, damage and loss.
“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,” says Shawn Allen, Matrix Mortgage Global’s CEO. “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 endeavor.”
“I’m energized by the potential for our engagement with Matrix Mortgage Global,” states 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.”
Additional details about the planned partnership will be announced in the coming weeks.