A altcoin project MANTRA Blockchain has signed a monumental agreement with UAE-based real estate giant DAMAC Group. By early 2025, the two companies plan to tokenize $1 billion worth of assets using blockchain infrastructure. DAMAC’s portfolio spans diverse industries, including real estate development, hospitality, and data center operations. This move aims to digitize traditional financing processes. Following the news, MANTRA’s price began to climb slightly.
Altcoin MANTRA Blockchain and DAMAC’s $1 Billion Asset Tokenization Agreement
According to the announcement, details of the assets DAMAC will tokenize under this agreement will be revealed in the coming weeks. Through tokenization, both individual and institutional investors will gain secure and transparent access to investment opportunities in sectors that were previously difficult to reach. DAMAC’s Managing Director, Amira Sajwani, commented:
“Tokenizing our assets provides investors with transparent and reliable access to a broad range of investment opportunities. This process represents a critical step toward digital transformation in the industry.”
What Is Tokenization of Real-World Assets?
The tokenization of real-world assets (RWA) involves converting physical assets into digital tokens. Real estate, commodities, funds, and securities can all be tokenized using blockchain technology, potentially making investment processes faster and more efficient. Moreover, this system opens up access to a broader investor base.
Various analysis firms, including McKinsey, BCG, and 21Shares, predict that the RWA market could reach trillions of dollars by the 2030s.
How Did MANTRA’s Price React to the Partnership Announcement?
MANTRA, the 40th largest cryptocurrency by market cap, was in decline during the partnership announcement. On January 9, Bitcoin, Ethereum, and many other cryptocurrencies experienced downward movements. However, after the announcement, MANTRA’s price reduced its 5% loss to approximately 3%. As of writing, it is consolidating at this level.
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DAMAC’s Interest in Blockchain and Altcoin
DAMAC has been at the forefront of adopting blockchain technologies. In 2022, the company began accepting Bitcoin (BTC) and Ethereum (ETH) payments, aligning with the UAE’s goal of becoming a crypto hub.
Additionally, former U.S. President Donald Trump recently announced that DAMAC is planning a $20 billion investment in data centers across the U.S. This indicates the company’s focus on growth both regionally and globally.
MANTRA’s Role in Digital Transformation in the Middle East
MANTRA plays a crucial role in transitioning traditional financial assets in the Middle East to the digital space. Previously, it collaborated with Dubai-based MAG Group to tokenize $500 million worth of assets. Since MANTRA’s mainnet launch in October, its native token OM’s market cap has surged by 200%, reaching $3.6 billion. For updates on Binance’s latest listings, check out the announcement on 18 new altcoin!
