Agents of Tech

Epazz’s CryObo Technology to Issue Token (NFT) for a Real Estate Deal in Cyprus

Epazz Inc., a mission-critical provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced that CryObo technology will issue Non-Fungible Tokens (NFT) for a real estate deal in Cyprus. Cyprus is a small European Union member which is moving forward with cryptocurrency regulations. The Cyprus real estate deal will be a test of CryObo technology.

The tokens will be backed by real estate. Real estate will be appraised for current value; however, the future of real estate will be evaluated. The goal is for the real estate deal to access the future value of properties once the land is developed, and buildings are constructed. This technology would allow real estate developers to raise capital at better terms and allow the token holder to raise appraisals of the tokens and earned income.

The company’s goal is to launch CryObo in early 2022. This decentralized financial system would be the first real-world business backing the tokenized economy, Epazz said, adding that it would be beneficial to fund farmers, help their customers by giving discounts and provide incentives for the retail sector.

Shaun Passley, Ph.D., Epazz Inc. CEO and chairman, said, “Cyprus is a great country to test the abilities of CryObo technology for real estate deals.”

 

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