PlanetRE, an enterprise cloud vendor, has announced a new single-click non-fungible token (NFT) creation feature within its flagship Transaction Management. This feature allows agents to effortlessly create, share and possibly gift NFTs to their clients, within the transaction management platform, on every real estate transaction closing.
The branded NFT is an immutable privileged record of the transaction containing encrypted documents, files, pictures and communication logs that consumers can save long after the deal is done. Each party can only see records that they are privileged to. It can be accessed by the consumer by secure email or within their own agent-branded portals offered within the transaction management. Once gifted, these NFTs reside in the buyer/ seller digital wallets.
The new technology also allows brokerages to create and keep their own NFTs: a master copy of the transactions with encrypted documents, compliance records, logs, commissions and others to be stored securely on the decentralized blockchain. NFTs created can be verified for authenticity using industry blockchain scanning tools within the platform.
NFT and web3 capabilities above are also offered via API for third-party blockchain applications.
“This raises the bar for Transaction Management in industry to a whole new level for the brokerage and the agent” said Subrao Shenoy, CEO of planetRE. “TMS platforms have had no innovation for a decade. The new web3 innovation offers differential market advantages for real estate companies and their consumers. “
