MANTRA has announced plans to tokenize over $1 billion worth of assets from the UAE-based DAMAC Group, beginning in early 2025. This initiative marks a significant step in integrating blockchain technology into traditional asset management, offering investors new ways to access and trade DAMAC’s diverse portfolio.
Key Details of the Partnership
DAMAC Group, led by Hussain Sajwani, operates a global conglomerate with interests spanning real estate, hospitality, and data centers. As part of its blockchain adoption strategy, DAMAC began accepting cryptocurrency payments in 2022. Now, the group is taking a major leap forward with the tokenization of its assets.
Through this partnership, MANTRA aims to provide retail and institutional investors access to DAMAC’s high-value properties and ventures via blockchain-based digital tokens. The move is expected to simplify the investment process, improve transparency, and broaden participation.
Details about the specific properties and tokenized offerings are expected to be disclosed in the coming weeks, with the official launch scheduled for early 2025.
Endorsement for the RWA Industry
“This partnership with DAMAC Group is an endorsement for the real-world asset (RWA) industry,” said MANTRA CEO John Patrick Mullin. “We’re thrilled to collaborate with such a prestigious organization that shares our vision of bringing traditional financing opportunities on-chain.”
MANTRA has gained traction since launching its mainnet in October. Its native token, OM, has surged by 200% in the past three months, achieving a market cap of $3.6 billion and hitting an all-time high in December 2024.
Growing Interest in RWA Tokenization
Tokenization converts traditional assets like real estate, securities, and commodities into blockchain-based digital tokens that represent ownership. This process offers several benefits, including faster settlements, improved transparency, and expanded access for investors.
The market for tokenized real-world assets is projected to reach trillions of dollars by the end of the decade. Tokenization has gained significant momentum over the past year:
BlackRock launched its BUIDL tokenized fund in March 2024, expanding it across five major blockchains, including Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
The BUIDL fund offers on-chain yield, flexible custody, and seamless integration, becoming the foundation for stablecoins launched by projects like Ethena and Frax.
Tether is preparing to launch Hadron, a tokenization platform set to debut in February 2025. Hadron will provide user interfaces and API support for institutional adoption.
Conclusion
DAMAC’s partnership with MANTRA reflects a broader shift towards blockchain-powered investment models, which promise to transform traditional markets by enhancing efficiency, accessibility, and security. With a growing focus on real-world asset tokenization, initiatives like these are paving the way for a future where blockchain reshapes global finance.
