Epazz's CryObo Technology to Issue Token (NFT) for a Real Estate Deal in Cyprus
Epazz Inc. (EPAZ) announced its plan to issue Non-Fungible Tokens (NFTs) for a real estate deal in Cyprus, utilizing its CryObo technology. This initiative is aimed at raising capital through tokenization, where the real estate's future value will be assessed. CryObo anticipates launching in early 2022, providing a decentralized financial system that supports real estate developers. CEO Shaun Passley expressed confidence in Cyprus as a testing ground for this technology, which could revolutionize asset transactions.
- Launch of NFTs for real estate in Cyprus could broaden funding options.
- CryObo technology aims to improve capital raising terms for developers.
- Dependence on successful implementation and adoption of new technology.
- Risks associated with regulatory changes in cryptocurrency markets.
Tokenization of Real Property Becoming a Way to Raise Capital
CHICAGO, Nov. 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Epazz Inc. (OTC Pink: EPAZ), a mission-critical provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced today that CryObo technology will issue Non-Fungible Tokens (NFT) for a real estate deal in Cyprus. Cyprus is a small European Union member which is moving forward with cryptocurrency regulations. The Cyprus real estate deal will be a test of CryObo technology.
The tokens will be backed by real estate. Real estate will be appraised for current value; however, the future of real estate will be evaluated. The goal is for the real estate deal to access the future value of properties once the land is developed, and buildings are constructed. This technology would allow real estate developers to raise capital at better terms and allow the token holder to raise appraisals of the tokens and earned income.
Our goal is to launch CryObo in early 2022. This decentralized financial system would be the first real-world business backing the tokenized economy. It would be beneficial to fund farmers, help their customers by giving discounts and provide incentives for the retail sector.
Shaun Passley, Ph.D., Epazz Inc. CEO, and chairman, said, “Cyprus is a great country to test the abilities of CryObo technology for real estate deals.”
About CryObo Inc.
CryObo Inc. will be enhancing its software to give early access to companies backed by real assets an easy way to access the token markets. The company’s platform will change how people transact real estate, digital assets, corps, and raw materials by allowing companies to access the future value of their assets. The growth of Bitcoin and other cryptocurrencies is bringing new regulations for large financial service companies, which will require a smart solution to manage their growing portfolios.
About Epazz Inc. (www.epazz.com)
Epazz Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS v3.0 is the complete business web-based software package for small to midsize businesses, Fortune 500 enterprises, government agencies and higher-education institutions. BoxesOS provides a combination of many of the web-based applications that an organization would otherwise need to purchase separately. Epazz’s other products are DeskFlex (room scheduling software) and Provitrac (applicant-tracking system).
SAFE HARBOR
The “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking language, such as “may,” “expect,” “intend,” “estimate,” “anticipate,” “believe” and “continue,” the negative thereof or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause the actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance, and actual results may differ materially from those contemplated by such forward-looking statements. Epazz Inc. assumes no obligation and has no intention of updating forward-looking statements. It has no obligation to update or correct information prepared by third parties that are not paid for by Epazz Inc. Investors are encouraged to review Epazz Inc.’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC Markets filings, which contain general business information about the company's operations, results of its operations and risks associated with the company and its operations.
Contact
For more information, please contact
Investor Relations
investors@epazz.net
312-955-8161
www.epazz.com
FAQ
What is the purpose of the NFTs being issued by Epazz Inc. in Cyprus?
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What impact does the Cyprus real estate deal have on Epazz Inc.?
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