On January 9, 2025, MANTRA Chain announced a $1 billion partnership with the Dubai-based DAMAC Group to tokenize real-world assets (RWAs) in the Middle East.
This marks a significant milestone in the adoption of blockchain technology in the real estate and investment sectors.
MANTRA and DAMAC: A New Era in Asset Tokenization
The development aims to tokenize at least $1 billion worth of assets from DAMAC’s diverse portfolio, which will be available exclusively on the MANTRA Chain in early 2025.
John Patrick Mullin, CEO of MANTRA, expressed enthusiasm about the partnership, stating, “This partnership with the DAMAC Group is an endorsement for the RWA industry. We’re thrilled to partner with such a prestigious group of leaders who share our ambitions and see the incredible opportunities of bringing traditional financing opportunities on-chain.”
This move seeks to provide investors with a secure, transparent, and convenient way to invest in DAMAC’s properties and ventures. Furthermore, it aims to unlock liquidity previously unavailable in traditional markets.
The partnership has been in the works since the launch of MANTRA Chain’s Mainnet in October 2024.
The company has also been building its presence in the Middle East’s RWA tokenization space. In July 2024, it partnered with MAG, another prominent UAE developer, to tokenize $500 million in real estate assets.
This deal focused on luxury residential developments in Dubai’s Meydan district. It provided investors access to premium properties through secure vault products.
The recent deal between MANTRA and DAMAC reveals growing confidence in blockchain technology’s ability to revolutionize traditional finance and real estate markets.
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