🌎 MANTRA DAMAC $1 Billion Blockchain Partnership

Global Crypto News: MANTRA Enters $1 Billion Partnership with DAMAC Group to Tokenize Assets

MANTRA and DAMAC Group Team Up to Bring Blockchain Technology to Real Estate and More

A new $1 billion partnership between MANTRA and Dubai-based DAMAC Group is set to revolutionize the way we invest in and access real estate, hospitality, and data centers. The agreement, announced in a recent press release, aims to increase transparency and accessibility across DAMAC’s diverse portfolio using blockchain technology.

Tokenization of DAMAC’s Assets

As part of this partnership, DAMAC’s assets will be tokenized and made available exclusively on the MANTRA Chain by early 2025. This collaboration will provide token-based financing for assets valued at a minimum of $1 billion. MANTRA CEO John Patrick Mullin believes this partnership is a significant endorsement for the Real-World Assets (RWA) industry.

“This partnership with DAMAC Group is an endorsement for the RWA industry,” said MANTRA CEO John Patrick Mullin. “We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities on-chain.”

Previous Partnerships and Initiatives

In November 2024, MANTRA partnered with Libre Capital, a tokenization platform based in the United Arab Emirates, in a similar deal regarding tokenized real-world assets. DAMAC Properties also announced its initiative to support the digital economy by accepting cryptocurrency payments for property sales in Bitcoin and Ethereum in July 2022.

How Tokenization Can Change Real Estate

Tokenization involves transforming an asset into digital tokens on a blockchain. When applied to real estate, this method could revolutionize property buying, selling, and financing. By tokenizing assets, companies can open up access to investment opportunities in the Middle East and beyond.

Benefits of Blockchain Technology in Finance

The partnership between MANTRA and DAMAC Group follows the October 2023 launch of the MANTRA Chain Mainnet, marking a significant step in bridging blockchain technology and traditional finance. This collaboration is expected to bring numerous benefits, including: