The group behind Mantra, the layer-1 blockchain for real-world properties, has actually signed a $1 billion contract handle DAMAC Group, a financial investment corporation, to increase availability to tokenized properties in the Middle East.
Users can tokenize DAMAC Group possessions from early 2025 utilizing the Mantra blockchain.
Next-Level Tokenization
DAMAC Group is a multi-billion-dollar organization corporation whose arms crossed varied ventures, 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 possession 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 different properties within the group’s portfolio.
Echoing the group’s optimism about the collaboration, among the DAMAC Group’s executives mentioned that choosing Mantra is “a natural extension of our dedication to development and forward-thinking options.” The executive included that “tokenizing our properties will offer financiers with a safe, transparent, and hassle-free method to access a wide variety of financial investment chances.”
Mantra’s CEO, John Patrick Mullin, likewise discussed the current cooperation, mentioning:
“This collaboration with DAMAC Group is a recommendation for the RWA market. We’re enjoyed partner with such a prominent group of leaders that share our aspirations and see the extraordinary chances of bringing standard funding chances onchain.”
Mantra Expands Ecosystem
Because its October 2024 mainnet launching, Mantra has actually teamed up with different 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 more comprehensive 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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