MANTRA secured a 1 billion USD deal with DAMAC Group, aiming to tokenize assets in the Middle East by early 2025. DAMAC, a large conglomerate, operates in sectors like real estate and data management. The collaboration will facilitate tokenized asset access, enhancing transparency and security for investors.

This partnership highlights a trend where traditional businesses like DAMAC are turning towards token-based financing. By leveraging MANTRA’s blockchain capabilities, DAMAC intends to offer secure and transparent investment opportunities in its varied sectors, including hospitality and real estate. The initiative aims to add more utility in the ecosystem.

Following the announcement, MANTRA’s native token, OM, experienced increased investor confidence, surging in price. CEO John Patrick Mullin sees the collaboration as an endorsement of the RWA industry. The token is now ranked 42nd in market cap, trading near 4 USD, amidst the broader market decline.