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This platform is transforming high-end property into NFTs

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Buying real estate is a complex process with many legal steps, but now, non-fungible tokens bring these transactions into the 21st century.

partnership between Materium And property consultancy West London City Lets has announced that a prime beachfront property on England’s south coast will be issued as an NFT by Tokenized Properties, a subsidiary of West London City Lets. means available.

The parcel of land is located in Milford-on-Sea and the minimum bid is OpenSea NFTs From 1.25 million USDC.

So how does it work?Well this NFT is linked Materium Asset Passport, proving the value of a physical object. It consists of a series of signed legal statements, land registry documents and a detailed description of the land.

Mattereum and West London City This approach will revolutionize property transactions in the UK and 170 countries around the world, streamlining transactions while increasing efficiency and transparency in the property market. Through non-fungible tokens, both parties can sell their homes to others without having to go through difficult legal checks again. Property NFTs can also be integrated into the DeFi ecosystem for secured lending.

Tokenization of real-world assets

Mattereum defends real estate as a potential use case for its protocol, but the platform also targets other high-value assets in the so-called “Million Dollar Quartet.” Through his B2B platform, you can tokenize anything from gold and antiques to musical instruments and investment-grade wine. The technology is also offered to other startups in the cryptocurrency industry.

Management emphasizes that every asset class can benefit from its approach. In other words, with the help of that protocol, it is possible to bring any item in the real world onto the blockchain.

Mattereum founder Vinay Gupta told Cointelegraph: In 4 months the cost is 4%. Mattereum has rolled its buying process down to his quick KYC checks and NFT purchases. There are over $1 trillion in real estate transactions a year waiting to be rationalized. ”

Further Insights from Materiam here

Reduced bureaucracy

Milford-on-Sea land offered through OpenSea has potential for commercial development.

Idris Anjary of West London City Lets said: People who want to buy and sell real estate. “

Overall, Mattereum’s Vinay Gupta believes this cutting-edge approach can “unleash a lot of latent potential in the field.”

This document is Materium

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