Tokenized real-world asset platform MANTRA has signed a remarkable $1 billion deal with DAMAC Group, the Middle East’s top investment conglomerate.
On January 9, L1 Blockchain announced that its partners have signed a $1 billion deal in a partnership to tokenize assets in the region. DAMAC Group’s business operations include real estate, hospitality, and data centers. MANTRA is a real-world asset blockchain platform and cryptocurrency.
MANTRA focuses on $1 billion tokenized RWA market
MANTRA and DAMAC Group will work together to introduce token-based funding for several of the group’s assets. The partnership aims to drive at least $1 billion in tokenization. The assets of DAMAC Group’s portfolio are scheduled to go live on the MANTRA Chain in early 2025.
“This partnership with DAMAC Group signifies support for the RWA industry,” John Patrick Mullin, Chief Executive Officer of MANTRA, said in a statement. We are excited to be partnering with such a prestigious group of leaders who see the incredible opportunities that come on-chain.”
Amira Sajwani, Managing Director, Sales and Development, DAMAC, added that the partnership will provide investors with investment opportunities that benefit from security, transparency and convenience.
MANTRA’s mainnet went live in October, and the L1 network has seen notable consolidation as traditional and decentralized finance players adopt its blockchain technology.
The platform marked a significant milestone for its native token OM with major exchange listing. Mantra has also reached development landmarks with bridges, staking, swaps and liquidity pools.
