MANTRA Blockchain Agrees with DAMAC to Tokenize $1 Billion in Real-World Assets

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– MANTRA will tokenize assets worth at least $1 billion of real estate developer DAMAC Group in early 2025.

– DAMAC’s portfolio; It includes real estate development companies, hotel management and data centers. The company started accepting crypto payments in 2022.

– Earlier this week, President-elect Donald Trump announced DAMAC’s plans to invest $20 billion in data centers.

MANTRA, a Layer-1 blockchain network focused on tokenizing real-world assets (RWA), has reached an agreement with United Arab Emirates-based real estate giant DAMAC Group to move at least $1 billion of the company’s assets onto the blockchain. The companies announced the agreement in a press release on Thursday.

This agreement will allow investors to finance DAMAC’s broad portfolio, which includes real estate development, hospitality and data centres. Tokenizing assets aims to increase access for both individual and institutional investors while making traditional investment processes more efficient.

Details of which DAMAC assets will be tokenized and the proposals will be announced in the coming weeks. A MANTRA spokesperson confirmed this information in a statement to CoinDesk. According to the press release, tokenized assets will begin to be released in early 2025.

Tokenization of real world assets; It is the process of converting traditional assets such as real estate, commodities, funds and securities into digital tokens that represent their ownership on the blockchain. This process is attracting increasing attention around the world. Institutions and governments are increasingly exploring tokenization due to benefits such as operational efficiency, faster transactions, and broad investor access. According to reports such as McKinsey, BCG, 21Shares and Bernstein, the RWA market could reach trillions of dollars within this decade.

DAMAC General Manager Amira Sajwani says the following in her statement:

“Tokenizing our assets will provide investors with safe, transparent and easy access to a broad range of investment opportunities.”

MANTRA focuses on the Middle East region, aiming to move traditional financial assets to the blockchain network. Earlier this year, Dubai-based real estate developer MAG Group announced it would tokenize $500 million in assets. MANTRA’s mainnet launched in October, and the market cap of its native token, OM, has increased by 200% in the last three months to $3.6 billion (according to CoinGecko data).

DAMAC has also taken steps in the past in the use of blockchain technology and cryptocurrency. The company started accepting crypto payments with Bitcoin (BTC) and Ether (ETH) in 2022. This step was taken in line with the UAE’s goals of becoming a crypto hub.

Notably, President-elect Donald Trump said at a press conference earlier this week that DAMAC had announced plans to invest $20 billion in data centers in several US states.