MANTRA, a platform for tokenized real-world assets, has signed a significant agreement worth $1 billion with DAMAC Group, a leading investment conglomerate in the Middle East. On January 9, the Layer 1 blockchain announced a collaboration to tokenise the group’s regional assets as part of a deal valued at $1 billion.
DAMAC Group’s business operations include real estate, hospitality and data centers. MANTRA operates as a blockchain platform focused on real-world assets and cryptocurrency.
MANTRA targets a $1 billion tokenized RWA market
Under the partnership, MANTRA and DAMAC Group will work together to enable token-based financing for multiple DAMAC assets. The collaboration aims to drive tokenization with an initial target of at least $1 billion. DAMAC Group assets are expected to be launched on MANTRA Chain in early 2025.
“This partnership with DAMAC Group supports the RWA industry. We are excited to collaborate with such a prestigious group of leaders who share our ambitions and see the tremendous opportunities in bringing traditional financing capabilities to the blockchain,” said John Patrick Mullin, CEO of MANTRA.
Amira Sajwani, Managing Director of Sales and Development at DAMAC, said the partnership will offer investors access to opportunities that benefit from enhanced security, transparency and convenience.
MANTRA’s mainnet launched in October, marking a period of notable integration as both traditional finance and decentralized finance participants began adopting its blockchain technology.
The platform has reached key milestones for its native token, OM, including listings on major exchanges. MANTRA has also developed important infrastructure features such as a bridge, staking, swaps and liquidity pools to support its ecosystem.