In a move that might tokenize $500 million in assets, MANTRA teams up with UAE real estate behemoth MAG
MANTRA used the social media platform X to announce a collaboration with the UAE real estate company MAG.
The partnership opens up new avenues for investment in the booming Middle Eastern market for $500 million worth of tokenized real estate.
New Whales have amassed 12.92 million OM tokens, according to on-chain statistics, and the supply on the market has fallen.
The goal of MANTRA's relationship with UAE real estate company MAG is to tokenize $500 million worth of real estate assets. The announcement was made on Wednesday via the social media platform X. Collaboratively, they want to make MANTRA's L1 technology-powered safe, yield-bearing vault solutions more accessible to high-net-worth individuals in the United Arab Emirates.
This partnership further establishes MANTRA and MAG as key players in the Middle Eastern sector, where tokenized real estate investment prospects are booming.
The partnership with MANTRA will improve company operations and provide innovative goods, according to MAG Lifestyle Development CEO Talal Moafaq Al Gaddah.
With MANTRA, we can take use of state-of-the-art blockchain technology to make our real estate products more valuable and easier to obtain. "As we keep inventing and leading the luxury real estate sector, this strategic partnership is crucial," he said.
On Wednesday, two new wallets removed 12,922,000,000 OM tokens, valued at $10.79,000,000, according to data from Arkham Intelligence.
Furthermore, Santiment's exchange supply fell from 135.57 million to 125.46 million the same day. This decline shows that investors are putting OM tokens inside wallets and aren't selling them as much.
The data from OM's Open Interest shows a substantial increase, reaching $47.35 million on July 4 from $15.80 million on July 2, which is the biggest level since mid-April. An increase of this magnitude indicates that the market is seeing a surge in purchasing power and fresh investment.
