Mortgages Hit The Blockchain as NFTs

Bacon Protocol, a decentralized solution for the housing market, minted seven mortgages as NFTs this week as crypto experimentation expands in real estate.

Bacon Protocol minted the mortgages across $7.2 million in property in four states — California, Alabama, Iowa and Washington.

“The mortgage industry is not meant to be replaced, but built upon with new technology that allows the homeowners of today to have the options they deserve,” said Karl Jacob, CEO and co-founder of Bacon Protocol. “NFTs and smart contracts fit perfectly into the lending world as they are similar to many legal arrangements in real estate, with upgraded technology and features, allowing for products like our Smart Loans 2.0 which offer auto refinancing to the lowest rate and an infinite term.”