MANTRA reaches a $1 billion asset tokenization protocol with Dubai real estate giant

On January 9th, the blockchain Layer 1 project MANTRA, which focuses on the tokenization of real-world assets (RWA), announced an agreement with a well-known real estate group in Dubai to tokenize at least $1 billion in assets held by the group in the UAE.

MANTRA has been active in the RWA track, and after launching its mainnet in October 2024, its Token price saw a significant increase. Data shows that throughout 2024, MANTRA (OM) increased by 6418.3%, rising from $0.0584 at the beginning of the year to $3.81 by the end of the year, making it one of the best-performing RWA investment projects of 2024.

The Middle East Becomes a Business Focus

This collaboration aims to provide token-based financing for the portfolio companies of the partners, covering the fields of real estate, hospitality, and data centers. This partnership will enhance the accessibility of investments and streamline processes, with the tokenization of these assets expected to begin in early 2025.

MANTRA currently has operations in places like Hong Kong and Singapore, but the main focus is on the Middle East, especially Dubai. Last year, MANTRA also reached an agreement with a developer to tokenize real estate assets worth a total of $500 million, with the first project starting from a residential project in Dubai.

In addition, MANTRA has signed a memorandum of understanding with a digital bank in the UAE to collaborate on developing a framework that supports the tokenization and distribution of RWA, while complying with local regulatory requirements.

Important Milestones in 2024

In 2024, MANTRA has achieved several significant advancements:

1. Completed a $11 million financing in March, followed by a strategic investment from a digital asset subsidiary of a securities company two months later.

2. Developed the RWA suite, including digital identity (DID), compliance system MANTRA Guard, token management system MTS, decentralized exchange (DEX), and liquidity efficient emission protocol (LEEP).

3. The mainnet will be launched on October 23, and users can perform operations such as token bridging, staking, and participating in network security.

Future Development Plan

The CEO of MANTRA stated that the project's goal is to become a ledger for asset issuance or RWA. He believes that large-scale adoption of RWA requires a public blockchain that can be compatible with a broader DeFi ecosystem, while MANTRA is building a permissionless layer that allows asset issuers, tokenization platforms, and regulated trading venues to easily, compliantly issue, distribute, and manage RWA.

MANTRA is expanding its DApp ecosystem, including a secondary market, on-chain RWA liquidity hub, and collaborations in areas such as lending, borrowing, and fractional real estate products. In the future, it will also explore fields like private credit, payments, and carbon credits.

The development plan of MANTRA is divided into three phases: the first phase focuses on bringing high-quality assets on-chain; the second phase emphasizes liquidity and the secondary market; the final phase will unlock the composability of RWA, allowing it to be used across different DeFi applications.

The project has set an ambitious goal: to reach a TVL of $100 billion in RWA by the end of 2026. Although progress is currently slow, it is attracting new funds and new capital, and it is expected to create a snowball effect in the future, ultimately leading to a leading position in the RWA sector.

The collaboration between MANTRA and the Dubai real estate giant marks further application of blockchain technology in the tokenization of real estate in the Middle East, providing new opportunities for the RWA sector. As MANTRA continues to expand in the RWA field, the project demonstrates formidable strength. It is worth keeping an eye on whether MANTRA can become a leader in RWA in the future.