The group behind Mantra, the layer-1 blockchain for real-world possessions, has actually signed a $1 billion contract handle DAMAC Group, a financial investment corporation, to increase ease of access to tokenized possessions in the Middle East.
Users can tokenize DAMAC Group properties from early 2025 utilizing the Mantra blockchain.
Next-Level Tokenization
DAMAC Group is a multi-billion-dollar company corporation whose arms crossed varied undertakings, such as high-end style, information centers, capital markets, catering, hotels & & resorts, and production. Headquartered in the United Arab Emirates (UAE), the group has workplaces throughout North America, Africa, Asia, and Europe.
Checking out real-world property tokenization indicates that the corporation has an interest in including extra energy to items within its community. The current offer will likewise present token-based funding including numerous properties within the group’s portfolio.
Echoing the group’s optimism about the collaboration, among the DAMAC Group’s executives mentioned that picking Mantra is “a natural extension of our dedication to development and forward-thinking options.” The executive included that “tokenizing our possessions will supply financiers with a protected, transparent, and hassle-free method to access a large range of financial investment chances.”
Mantra’s CEO, John Patrick Mullin, likewise talked about the current cooperation, specifying:
“This collaboration with DAMAC Group is a recommendation for the RWA market. We’re enjoyed partner with such a distinguished group of leaders that share our aspirations and see the unbelievable chances of bringing conventional funding chances onchain.”
Mantra Expands Ecosystem
Considering that its October 2024 mainnet launching, Mantra has actually worked together with numerous platforms within and outside the crypto market to grow its adoption. Google Cloud, Chainlink, Anchorage Digital, and Hex Trust are amongst them.
Surprisingly, these turning points have actually moved Mantra’s native token, $OM, to brand-new heights. At the time of composing, the token is presently trading near $4 regardless of the wider market’s decrease in the previous couple of days. OM is now the 42nd-largest cryptocurrency by market cap as the metric is well above $3.7 billion.
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