California-based Quantm Real Estate announced on Thursday the creation of the QuantmRE Network, a blockchain-based real estate marketplace designed to allow people to obtain equity in residential property.
According to Quantm Real Estate, the network will provide a platform for the issuance and trading of tokens backed by equity interests in single-family residences in the U.S.
This is accomplished by Quantm Real Estate buying equity from homeowners, and using that equity to back its tokens. This allows token holders to invest in the real estate market, and homeowners to obtain cash without increasing their debt by taking out a mortgage, according to the company.
“Having to borrow from a bank simply to access the wealth that you have built up in your home is deeply unsatisfactory,” said QuantmRE founder Matthew Sullivan, who previously worked for billionaire Richard Branson, and founded crowdventure.com. “Our ability to digitize the value of a homeowner’s equity and realize the locked-up value will solve a huge problem for homeowners worldwide. It’s time for people to be able to access more affordable homeownership options, flexibility, and less financial risk.”
QuantmRE stated that its investment tokens will be backed by an ever-expanding pool of real estate assets, making their investment token a viable option for people who want to be passive real estate investors and avoid having to deal with “tenants, toilets and trash.”
“The Quantm Real Estate team is democratizing real estate equity for homeowners by giving them a liquidity option other than debt, along with an on-ramp to cryptocurrency,” said QuantmRE advisor Tim Sanders.
QuantmRE stated that its real estate fund management team holds decades of experience and has syndicated over USD 500 million in commercial debt and fractional equity transactions in the past five years. Its other advisors include David Moss, the founder and CEO of TrueBlock.io, and Enzo Villani, the chairman of Millennium Blockchain.