🚨Mantra to Tokenize $500M Real Estate Assets for UAE Builder MAG Group🚨

Mantra, a blockchain firm focused on the Middle East, plans to tokenize $500 million worth of real estate assets for Dubai-based developer MAG Group. This initiative will be executed in multiple tranches, starting with a residential project, Keturah Reserve, and a $75 million mega-mansion at The Ritz-Carlton Residences, Dubai Creekside. Investors will earn yields through stablecoins and Mantra's OM token, with expected stablecoin yields around 8% and additional OM tokens.

In March, Mantra raised $11 million for real-world tokenization efforts and is finalizing licensures from Dubai’s crypto regulator VARA. Mantra’s CEO John Patrick Mullin and MAG Lifestyle Development’s CEO Talal Moafaq Al Gaddah announced the collaboration, highlighting the potential for tokenized real estate investments.

Tokenization of real-world assets (RWA) is a growing trend in the crypto space, with firms pushing for broader adoption despite challenges. McKinsey projects the market for tokenized assets could reach $4 trillion by 2030 in an optimistic scenario, though mass adoption may still be distant. At the time of writing, Mantra's OM token is trading at 84 cents, down from its all-time high of over a dollar in June.

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