MANTRA partners with DAMAC for a $1B asset tokenization deal. It expands blockchain technology in real estate and investment opportunities.
MANTRA, a blockchain platform designed for tokenizing real-world assets (RWAs), has announced a significant partnership with DAMAC Group. DAMAC has agreed to the tokenizing of assets from its extensive portfolio throughout the Middle East for a US$1 billion agreement. The partnership is a significant step to realizing MANTRA’s mission to change the way real-world assets are managed and financed using blockchain technology.
The partnership will see DAMAC Group’s assorted assets deployed onto the MANTRA Chain, minimum US$1billion in value. By doing so, it will allow token based financing of all kinds, opening a safer, more secure and more efficient way of managing assets. The partnership believes that blockchain will make it easier, cleaner and quicker for investors to make investments.
DAMAC Group, a company vested in real estate, hospitality and data centers, considers tokenization of the assets as a step towards innovation. Back then the company was always looking for new technologies to broaden its offerings. DAMAC, through this partnership with MANTRA, aims to deliver these investors a new bar of transparency and security.
DAMAC Assets to Launch on MANTRA Chain in Early 2025
In early 2025, the DAMAC assets will be available on the MANTRA Chain. It represents a major step for MANTRA. It will expand its digital assets’ offerings. MANTRA CEO John Patrick Mullin was excited. It is an endorsement for the RWA industry, he called it. He feels it will help bridge traditional financing onto the blockchain.
Besides this, MANTRA Chain partnered with Google Cloud in October 2024. The primary validator and infrastructure provider will be Google. The goal of this collaboration is to make the blockchain faster, safer, and more reliable. This will only assist in strengthening the platform’s overall infrastructure.
The partnership is in line with DAMAC’s strategy for innovation. Amira Sajwani, the Managing Director at DAMAC, discussed the positives of tokenization. Asset tokenization will give investors a safe and user-friendly access to new investment opportunities.
The launch follows the October announcement of MANTRA Chain’s Mainnet. It continued the trend of bringing blockchain all the way into traditional finance. MANTRA is still heading on becoming the number top platform to tokenize real word assets. With its DAMAC partnership, the interest in blockchain’s potential to reshape industries such as finance or real estate is growing.
