TechDogs-"Mattereum and West London City Lets Break New Ground on Land Sale as a Digital Asset on the Blockchain, an Industry First"

Blockchain

Mattereum and West London City Lets Break New Ground on Land Sale as a Digital Asset on the Blockchain, an Industry First

By Business Wire

Business Wire
Overall Rating


LONDON--(BUSINESS WIRE)--Leading property consultants West London City Lets have partnered with tech firm Mattereum and a team of investors to sell the first piece of land in the UK as a digital asset Non-Fungible Token (NFT). The prime beach-front property on England’s south coast will be for offers over £1.9M in a first of its kind transaction.

While the major rise in 'proptech' over the last five years has led to increased investment in new technologies, the notoriously slow-moving and antiquated property industry remains ripe for change. The blockchain and digital assets will usher in a new era of tech-driven transformations led by Mattereum's innovative legal tools, creating a market that is more efficient and transparent.

The relevant data for the high-value property will be stored securely using the Mattereum Asset Passport and held on an immutable public storage platform. The Mattereum Asset Passport bundles together legal rights and guarantees and is paired with Mattereum's smart contracts. This will not only enable the required searches, title deed, and reference media for due diligence to be displayed accurately and transparently, but will streamline the purchasing process and increase buyer confidence as to the authenticity and value of the property.

Idris Anjary of West London City Lets said: “We’re excited to be working with Mattereum on this first of its kind real estate project. It's going to be a game changer in the built environment industry and open up countless business avenues for people wanting to buy and sell property.

The property has commercial development potential and has already had designs created for an art gallery, multiple artist pods and a high-end cafe. The sale will be enacted via an innovative, first of its kind, transfer mechanism.

Mattereum founder and CEO Vinay Gupta said: “Real estate is the biggest asset class in the world, and one of the most stable, particularly in geographically diverse portfolios. But the transaction costs are extraordinarily high, both in terms of diligence on the buildings and the mechanics of legal transfer of title. Innovation in the space to make buying and selling real estate cheaper and easier is going to liberate a lot of dormant potential in the sector. We're very happy to be working with West London City Lets to show the world what is possible!”

The property is at the heart of Mattereum's 'Million Dollar Quartet', a portfolio of four million-dollar plus asset classes which also includes prized wines and whisky, gold bullion, and fine art and antiques. The quartet demonstrates Mattereum’s transformational capabilities in high-value markets as the most trusted operator in the field of on-chain hard asset transactions.

Notes for editors

About West London City Lets

Initially starting out as a property management and consultancy practice, the firm has diversified into providing architectural solutions and offering back office design support to existing architecture and design practices.

West London City Lets have a wealth of design experience ranging from residential to commercial projects, and employ qualified architectural technicians, engineers and surveyors who are responsible, passionate and enthusiastic about providing the best possible design solutions.

About Mattereum

https://mattereum.com/

Founded in 2017 by CEO Vinay Gupta, Mattereum is an impact-driven technology enterprise headquartered in London. Mattereum is committed to creating a new protocol for digital trade built on transparency, trust and accountability. Established by founders with a track record of designing and launching nation state-level infrastructure, Mattereum’s trans-disciplinary team brings together programmers, lawyers, and decades of cumulative experience in finance, technology, and dispute resolution to build the foundation of the next generation of digital commerce.


Contacts

For further information, please contact pressoffice@mattereum.com.

Liked what you read? Head to the TechDogs homepage to find the latest tech content infused with drama and entertainment. We've got ArticlesWhite PapersCase StudiesReportsVideos and Events that help you Know Your World of Technology.

First published on Mon, Aug 1, 2022

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

Mattereum West London City Non-Fungible Token (NFT) Digital Asset

Join The Discussion

- Promoted By TechDogs -

Are You Ready To Accelerate Your Cloud Migration And Data Modernization?
  • Dark
  • Light