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Integration of Blockchain Technology Broadens Value Distribution across Real Estate Industry
VANCOUVER, BC, June 3, 2021 /CNW/ - RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a technology platform for the real estate industry, announced today a strategic partnership with the Home Network Foundation to launch a cryptocurrency integration within the RESAAS platform.
The Home Network Foundation has developed the HOME Protocol ecosystem, enabling real estate agents and their customers to earn HOME Tokens, a cryptographic digital asset, as they engage with the platform.
Real estate agents earn an initial allocation of HOME Tokens by registering with the Home Network Foundation. Additional HOME Tokens can be earned for their continued participation in the real estate industry, through actions such as posting listings and conducting referral business.
RESAAS has over 450,000 Agents located in the United States eligible to claim HOME Tokens. Agents subscribed to RESAAS Premium or RESAAS Ultimate may earn additional HOME Tokens, bringing exceptional value to RESAAS's two paid-for tiers.
"RESAAS has established itself as a true platform at the cutting edge of the real estate industry, by facilitating the sharing of unique real estate data to licensed agents from any brokerage," said Tom Rossiter, CEO of RESAAS. "This partnership signifies a milestone in RESAAS' plan to bring tokenization to the real estate industry. We believe that blockchain technology will fundamentally change the way real estate transactions and interactions occur. The Home Network Foundation has approached this framework in a way that benefits the overall industry and its participants. This partnership further enhances RESAAS' value proposition to our vast network of real estate professionals."
The Home Network Foundation will begin the distribution of HOME Tokens over the Ethereum blockchain protocol during its upcoming launch. The Home Network Foundation has released a white paper with additional information surrounding use cases on its website.
The agreement between RESAAS and the Home Network Foundation was executed on June 2, 2021. RESAAS receives 1,000,000 HOME Tokens for execution of this agreement, with up to an additional 9,000,000 HOME Tokens as RESAAS Agents register to receive HOME Tokens themselves. As part of this agreement, 75,000,000 HOME Tokens are available to be claimed by RESAAS Agents.
RESAAS is working with one of its existing strategic partners, Blimp Homes, to facilitate the distribution of Tokens to RESAAS Agents. Once claimed by RESAAS Agents, the Home Network Foundation will deposit HOME Tokens into a digital crypto wallet provided to RESAAS Agents by Blimp Homes.
The HOME Tokens are solely intended to be used for their consumptive, non-speculative, purposes within the HOME Protocol. The tokens are not yet been minted and are not traded anywhere at present.
About RESAAS Services Inc.
RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. Visit www.resaas.com for more information.
About the Home Network Foundation
The Home Network Foundation is working with several ecosystem partners to move the real estate industry forward to allow broader distribution of value as well as decentralization of data ownership. The Home Network Foundation supports the acceleration of the decentralization of the real estate industry. Visit homefoundation.io to learn more.
About Blimp Homes
Blimp Homes is a collaborative platform that enables homebuyers, sellers, and real estate professionals to seamlessly connect and communicate on all aspects of real estate transactions. To learn more, visit blimphomes.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.
SOURCE RESAAS SERVICES INC.
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