MANTRA: The RWA blockchain project reaches new heights

MANTRA, as a Blockchain Layer 1 project for the tokenization of real-world assets (RWA), has been making frequent moves recently, attracting widespread attention from the industry. On January 9, the project announced an agreement with Dubai real estate giant DAMAC Group to tokenize at least $1 billion of its assets in the UAE.

! [With a 64-fold increase in a year, what are the actions of MANTRA, the L1 project of the RWA track?] ](https://img-cdn.gateio.im/webp-social/moments-ec8672e1e22a5572dae7f5414d338d99.webp)

According to the data, MANTRA (OM) has performed well in 2024, with an annual increase of 6418.3%, soaring from $0.0584 at the beginning of the year to $3.81 on December 25, becoming a leader in the RWA investment field.

John Mullin, co-founder and CEO of MANTRA, said DAMAC's support demonstrates the industry's strong confidence in the prospects of RWA tokenization. DAMAC Group's business covers real estate, capital market, hotel and vacation, manufacturing and other fields, and has a number of well-known brands and high-end projects. The partnership will provide DAMAC's portfolio companies with token-based financing options in areas such as real estate, hospitality, and data centers. It is expected that the tokenization process of the underlying assets will start in early 2025.

At present, the focus of MANTRA's business is mainly concentrated in the Middle East, especially in Dubai. Last year, the project also reached an agreement with MAG Property Development to tokenize $500 million worth of real estate assets. In addition, MANTRA has signed a Memorandum of Understanding (MoU) with Zand Bank, a UAE digital bank, to collaborate on the development of a framework for the tokenization and distribution of RWA.

Looking back on 2024, MANTRA has made a number of important progresses. In March, the project completed a financing of 11 million US dollars; In May, it received a strategic investment from Laser Digital, a digital asset subsidiary of Nomura Securities. MANTRA has also developed a range of RWA-related tools, including digital identity, compliance systems, token management systems, decentralized exchanges, and more. Among them, the MANTRA Token Service (MTS) is a comprehensive module that supports the creation and management of tokenized assets on the MANTRA Chain.

! [With a 64-fold increase in a year, what are the actions of MANTRA, the L1 project of the RWA track?] ](https://img-cdn.gateio.im/webp-social/moments-95c4f5e9673f85fe447f0f9b4268c7fa.webp)

The MANTRA mainnet was officially launched on October 23rd, and users can bridge tokens, staking, and participate in new tasks. Mr Mullin said MANTRA aims to be the ledger of record for asset issuance, or RWA. He argues that RWA mass adoption requires a public blockchain that is compatible with the broader DeFi ecosystem, as well as a permissionless layer that allows asset issuers, tokenization platforms, and regulated trading venues to operate compliantly.

Looking ahead, Mullin outlined a three-phase roadmap for the RWA space: the first phase focuses on bringing high-quality assets on-chain; The second phase focuses on liquidity and secondary markets; The final stage will be to implement the composability of RWA so that it can be used in different DeFi applications. He is ambitious that he hopes to reach $100 billion in total RWA lock-up value (TVL) by the end of 2026.

! [With a 64-fold increase in a year, what are the actions of MANTRA, the L1 project of the RWA track?] ](https://img-cdn.gateio.im/webp-social/moments-ccaf23d0449055ecec90b60704854061.webp)

The partnership between MANTRA and DAMAC marks the further application of blockchain technology in the field of real estate tokenization in the Middle East, bringing new opportunities to the RWA track. As MANTRA continues to expand in the RWA space, the project is poised to become an industry leader. The industry will pay close attention to its subsequent developments.