I. The Property-based HOM NFT
The Property-based HOM NFTs
A key feature of the HOM DAO is the creation of a permissionless platform to mint a HOM-NFT for a property. So you can make an NFT of any property in the world. This NFT is far more than a digital picture of the property kept in a crypto wallet. The NFT is actually all of the components of the actual property (e.g. legal ownership, property information and description, etc.). Much like one owns a property today, all of the components associated with the property are captured in the NFT and recorded on the Blockchain.
A HOM NFT is more akin to a strand of DNA, full of billions of particles of data and function. These utilities can be switched on or off, depending upon the needs of the NFT owner or the regulatory environment in the country where the NFT owner lives.
The five levels of HOM-NFT utility include:
- 2.Identity and Title
- 5.Lending and Borrowing