Mantra will tokenize one billion dollars of real world asset

Yesterday, Mantra announced that it will tokenize one billion dollars of real world asset (RWA) on its blockchain. 

The initiative is the result of collaboration with a company from the United Arab Emirates, DAMAC Group, which, among other things, also deals with real estate. 

The blockchain Mantra 

Mantra is a progetto crypto launched in 2020.

It is a level 1 blockchain based on PoS (Proof-of-Stake) that prioritizes security and regulatory compliance, specifically designed to facilitate the tokenization and trading of RWA.

It was created thanks to the Cosmos SDK, it is compatible with IBC and supports CosmWasm. 

On the Mantra blockchain, a decentralized finance platform has been created that offers a permissionless environment suitable also for permissioned applications, making it suitable for institutional uses as well. 

Its native cryptocurrency, OM, landed on the crypto markets before the last major bull run, but its performance in 2021 was not extraordinary.

The boom, however, occurred only in 2024, when in less than twelve months its price skyrocketed from $0.04 to over $4. 

The all-time high was recorded on December 11, at 4.6$, and it still remains above 4$. 

The tokenization of RWA on Mantra

All this is a consequence of the increasing interest in the tokenization of real world asset.

In the specific case of the collaboration with DAMAC Group, the idea is to revolutionize the world of tokenized assets with an agreement worth 1 billion dollars.

The tokenized RWA will concern a wide range of assets, ranging from real estate, to hospitality, to data centers, and other critical sectors.

The tokens of the DAMAC Group thus created will be available at the beginning of 2025 exclusively on MANTRA Chain.

DAMAC Group is a leading conglomerate in real estate development known for its diversified investment portfolio in the United Arab Emirates.

Thanks to tokenization, the assets of DAMAC Group will also be available in fractional ownership, and token-based financing will be allowed for a wide range of assets. 

DAMAC Group 

DAMAC Group is the multi-billion dollar business conglomerate of Hussain Sajwani, based in UAE. The group’s investments are divided into seven main areas, namely real estate, capital markets, hotels and resorts, manufacturing, catering, high-end fashion, and data centers.

Some of the most important activities of the group include DAMAC Properties, one of the largest real estate developers in the region, but the group is also famous for the acquisition of the Italian fashion house Roberto Cavalli and the Swiss luxury jewelry brand de GRISOGONO. It is also active outside the UAE, such as in London, where it built the 50-story DAMAC Towers Nine Elms, and in the Maldives, where it created a luxury resort. 

Recently the group announced the idea of building data centers through its digital infrastructure company EDGNEX Data Centers, in various global locations.

By now the group is operational also in North America, Europe, Asia, Middle East, and Africa. 

The comment

Regarding the collaboration with Mantra, the CEO of Sales & Development at DAMAC, Amira Sajwani, stated: 

“DAMAC always explores new technologies to enhance our product offerings. The partnership with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions. The tokenization of our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities”.

The CEO and co-founder of Mantra, John Patrick Mullin, added: 

“This partnership with DAMAC Group is an endorsement for the RWA sector. We are excited to collaborate with such a prestigious group of leaders who share our ambitions and see the incredible opportunities to bring traditional financing opportunities onchain”.