MANTRA Launches RWAccelerator Program with Google Cloud Support
The real-world assets (RWA) tokenization industry has reached a valuation of $38.7 billion, led by MANTRA and Chainlink. Growth is expected as institutional investors increasingly enter the blockchain space.
Blockchain technology reduces friction in traditional finance, allowing internet users to invest in tokenized stock indexes easily.
MANTRA Chain Developments
MANTRA Chain has emerged as a significant layer one permissionless blockchain, connecting traditional finance with decentralized finance. A collaboration with DAMAC Group aims to introduce token-based financing for properties worth approximately $1 billion.
To promote RWA development, MANTRA launched RWAccelerator, a startup accelerator program supported by Google Cloud, offering funding and technical assistance to developers.
John Patrick Mullin, CEO of MANTRA, emphasized the opportunity for startups to leverage advanced technology and mentorship through this initiative.
Market Overview
As the second-largest RWA-focused blockchain, OM has a fully diluted valuation of around $13.3 billion and a daily trading volume of $189 million. The price of OM has surged over 29 times in the past year, with over 97% of holders currently in profit.
The RWAccelerator program is expected to enhance the utility of OM, fostering a bullish outlook. Despite increased competition, OM continues to attract retail and institutional investments. The MANTRA team remains committed to reducing OM's supply through token burns, which have eliminated 6.2% of the total supply, valued at roughly $408 million.