MANTRA Blockchain Partners with DAMAC to Tokenize $1 Billion in Assets
MANTRA has partnered with DAMAC Group to tokenize at least $1 billion of the firm's assets. This collaboration aims to finance DAMAC's diverse portfolio, including real estate and hospitality, by enhancing investment accessibility for retail and institutional investors.
Key points include:
- Details on which properties will be tokenized will be revealed soon.
- The offerings are expected to launch in early 2025.
- Tokenization is gaining traction globally, potentially expanding the RWA market to trillions of dollars in the coming decade.
- DAMAC's managing director emphasized increased security and transparency for investors.
- Earlier this year, MANTRA announced the tokenization of $500 million from MAG Group.
- MANTRA's native token OM's market cap increased by nearly 200% to $3.6 billion over three months.
- DAMAC has previously accepted cryptocurrency payments, aligning with UAE's crypto ambitions.
- DAMAC also plans a $20 billion investment in U.S. data centers.