Blockchain platform MANTRA, which focuses on real-world assets (RWAs), has announced a partnership with DAMAC Group, signing a historic US$1 billion deal with the renowned investment holding company.
The partnership will see various types of assets from DAMAC’s diversified portfolio, including real estate, hospitality, and data centers, being integrated into the MANTRA Blockchain.
As per the agreement, by Q1 2025, all of DAMAC Group’s assets will be tokenized and will be traded exclusively on the MANTRA Chain. This move marks a new approach in applying the principles of blockchain to the management of traditional assets, ultimately accelerating the possibilities for protecting the interests of investors.
Launching its mainnet in October 2024, MANTRA Chain will serve as the platform for these tokenized assets. The collaboration aims to create a secure, blockchain-based ecosystem for DAMAC’s investments, opening doors for new financing opportunities. By utilizing MANTRA’s blockchain infrastructure, investors will be able to access a diverse range of tokenized assets seamlessly and efficiently.
Speaking on the partnership, John Patrick Mullin, RWA CEO and Co-Founder of MANTRA, said that the partnership is a great boost to the entire RWA industry. He spoke about the possibilities of working with a company like DAMAC to integrate traditional financing use cases on-chain, adding that this is what excites him the most about the partnership.
Highlighting DAMAC Group’s commitment to leveraging emerging technologies, Amira Sajwani, Managing Director of Sales & Development at DAMAC, said that tokenizing DAMAC’s assets aligns with the company’s goal of enhancing its product offerings through innovation. The partnership provides a secure and transparent method for investors to explore various opportunities in sectors integral to DAMAC’s portfolio.
This partnership marks a significant development in the realm of blockchain technology and its role in reshaping conventional finance. Both organizations are set to revolutionize investment access and management by tokenizing real-world assets, continuing the Middle East’s strong presence in blockchain advancements.
