BLOK Technologies Inc. announced that Visionary Private Equity Group have entered into a non-binding Memorandum of Understanding to form a joint venture for the development of technology for the real estate industry. Under the terms of the MOU, which is subject to the parties agreeing upon definitive terms, BLOK Tech will license its Greenstream blockchain technology platform in exchange for a $500,000 licensing fee and a 25% equity position in a to-be formed joint venture company. The MOU outlines the terms of the proposed strategic partnership between VPEG and BLOK Tech relating to the development of new technology enterprises, the first of which is expected to be with a real estate company partner. Under the terms of the non-binding MOU between BLOK Tech and VPEG the parties have agreed to the following: BLOK Tech and VPEG will establish a new joint venture company for the licensing, aggregation and build out of technologies for the real estate sector; The Parties will seek to jointly identify and secure a 3rd strategic partner from the real estate industry, who is expected to provide USD 5 million in funding for NewCo. BLOK Tech will grant NewCo an exclusive and perpetual license of the Greenstream technology platform for the real estate sector for a licensing fee of $500,000 payable to BLOK upon the securing of NewCo financing. VPEG will grant NewCo an exclusive and perpetual license of the Visionary Technology stack (including NFC, RFID, and Augmented Reality and Virtual Reality technologies) for the real estate sector for a licensing fee of $500,000 payable to VPEG upon the securing of NewCo financing. BLOK Tech and VPEG will be equal partners in NewCo and will jointly bring in other equity partners.