MANTRA and DAMAC Group Sign $1 Billion Tokenization Agreement

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In collaboration with the well-known DAMAC Group, MANTRA, a Layer 1 blockchain specializing in Real World Assets (RWA), is making headway in both the financial and tech industries. A press release to Coinspeaker announced their joint agreement worth $1 billion, which will tokenize DAMAC’s extensive collection of assets, establishing a notable milestone for blockchain adoption in the Middle East region.

The UAE’s DAMAC Group, renowned for its diverse ventures in real estate, hospitality, data centers, and fashion, is leading the charge towards investment opportunities using blockchain technology. By the beginning of 2025, their tokenized assets will be exclusively offered on MANTRA Chain, facilitating secure, transparent, and accessible investments for all.

John Patrick Mullin, CEO of MANTRA, expressed his excitement about their partnership with DAMAC Group, stating that it serves as a validation for the Real World Asset (RWA) industry. He’s delighted to collaborate with such esteemed leaders who share their aspirations and recognize the potential of moving conventional financing options onto the blockchain.

MANTRA & DAMAC Collaboration Unlocks Secure Investment Opportunities

Partnering with DAMAC signifies a significant milestone after MANTRA’s Mainnet launch in October, emphasizing their commitment to integrating blockchain technology into traditional financial structures. With its multifaceted portfolio that includes real estate, luxury brands like Roberto Cavalli, and a Maldives resort, DAMAC demonstrates the vast potential for tokenized investments.

Amira Sajwani, as the Managing Director of Sales & Development at DAMAC, articulated their progressive mindset.

DAMAC continually seeks out cutting-edge technologies to boost our product variety. Collaborating with MANTRA aligns perfectly with our dedication to innovation and forward-thinking service. By tokenizing our assets, we offer investors a secure, transparent, and user-friendly method to explore various investment possibilities.

This endeavor solidifies MANTRA’s standing at the forefront of combining blockchain technology with tangible assets. Boasting cross-chain compatibility and stringent compliance standards, MANTRA empowers businesses to effortlessly adjust to the ever-changing landscape of tokenization.

Previous Milestones

In March 2024, MANTRA raised $11 million during a funding round, which was spearheaded by Shorooq Partners and also involved major players in the industry such as Virtuzone and Hex Trust, according to previous reports from Coinspeaker. Subsequently, in July 2024, MANTRA collaborated with MAG, a prominent real estate developer based in the UAE, to convert $500 million of MAG’s assets into tokens.

The worldwide reach and bold initiatives of DAMAC serve as a testament to the significant influence this partnership could have. The organization’s presence stretches across North America, Europe, Asia, and Africa, with projects varying from the renowned DAMAC Towers Nine Elms in London to data centers established under EDGNEX Data Centers by DAMAC.

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2025-01-09 17:00