This Company Wants To Turn Your Mortgage Into An NFT

The hottest NFT on the market may not be an ape or sport’s highlight—but your mortgage.

Indeed, mortgage lender LoanSnap recently announced they had minted the first NFT mortgages in existence, using their Bacon Protocol to wrap seven mortgage liens into tokens collectively worth $1.5 million.

The benefits of such tokens, according to LoanSnap, are lower mortgage rates, faster loan approvals, and greater flexibility around repayment terms. The explanation being that as the blockchain can permanently record information like applicant credit score, debt-to-income ratio, and home value, the need for verification through middlemen is eliminated—in turn reducing the cost and time involved in the lending process.

While these potential benefits are indeed significant, the largest beneficiaries of this innovation are almost certainly retail investors—who for the first time are gaining access to the highly-coveted $17 trillion mortgage industry.

For those unfamiliar, financial regulation and capital requirements have historically made it virtually impossible for everyday citizens to get involved in mortgage lending. This has left large financial institutions and the government to soak up all of what’s considered to be one of the lowest-risk and consistent yielding asset classes available. Tokenizing housing debt eliminates many of these barriers to entry—making it theoretically possible for anyone with a DeFi wallet to own a fractional share of a mortgage. Click to read more at