MANTRA partners with DAMAC for a $1B asset tokenization deal. It expands blockchain technology in real estate and investment opportunities.

MANTRA, a blockchain platform designed for tokenizing real-world assets (RWAs), has announced a significant partnership with DAMAC Group.

Blockchain platform MANTRA has announced a partnership with DAMAC Group to tokenize assets from DAMAC's portfolio across the Middle East, in a deal valued at US$1 billion.

The partnership will see a minimum of US$1 billion worth of DAMAC Group's varied assets deployed onto the MANTRA Chain, enabling all kinds of token based financing. This will open up a safer, more secure, and more efficient way of managing assets, and the partnership believes that blockchain will make it easier, cleaner, and quicker for investors to make investments.

DAMAC Group, which is involved in real estate, hospitality, and data centers, sees the tokenization of its assets as a step towards innovation. The company has always been looking for new technologies to broaden its offerings. Through this partnership with MANTRA, DAMAC aims to deliver these investors a new bar of transparency and security.

DAMAC Assets to Launch on MANTRA Chain in Early 2025

The DAMAC assets will be launched on the MANTRA Chain in early 2025. This will be a major step for MANTRA as it expands its offerings of digital assets.

MANTRA CEO John Patrick Mullin was excited about the partnership, calling it a major endorsement for the RWA industry and how it will help bridge traditional financing onto the blockchain.

MANTRA Chain also partnered with Google Cloud in October 2024, with Google being the primary validator and infrastructure provider. The goal of this collaboration is to make the blockchain faster, safer, and more reliable, which will only assist in strengthening the platform's overall infrastructure.

The partnership is in line with DAMAC's strategy for innovation. Amira Sajwani, the Managing Director at DAMAC, discussed the positives of tokenization.

“Asset tokenization will give investors a safe and user-friendly access to new investment opportunities. We are excited to work with MANTRA to bring DAMAC assets onto the blockchain and to open up a whole new world of possibilities for investors in the region and around the world.”

The launch follows the October announcement of MANTRA Chain’s Mainnet, continuing the trend of bringing blockchain all the way into traditional finance. MANTRA is still heading on to becoming the number top platform to tokenize real word assets, and with its DAMAC partnership, the interest in blockchain’s potential to reshape industries such as finance or real estate is only growing.