In a significant move for the blockchain and real estate sectors, MANTRA has announced a landmark $1 billion partnership with DAMAC Group, one of Dubai's largest and most influential conglomerates. The collaboration is set to transform real-world asset (RWA) tokenization in the Middle East by digitizing ownership rights of DAMAC’s extensive portfolio, including real estate, hospitality, and data centres.
What the Partnership Involves
MANTRA and DAMAC Group will work together to tokenize a minimum of $1 billion worth of assets. The process will involve converting ownership rights of physical assets into blockchain-based digital tokens, enabling fractional ownership and online trading.
DAMAC Group is renowned for its impressive portfolio, including real estate projects, luxury hospitality offerings, and data center developments. Through this partnership, these traditionally illiquid assets will become accessible to a wider range of investors via the MANTRA Chain.
Amira Sajwani, Managing Director of Sales & Development at DAMAC, commented on the collaboration, saying:
“DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions. Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”
Expanding Investment Opportunities
Asset tokenization offers a range of benefits, from reducing investment barriers to increasing transparency. By tokenizing DAMAC’s portfolio, this partnership will unlock the Middle East's property market for both institutional and retail investors, providing global access to high-value assets.
John Patrick Mullin, CEO & Co-Founder of MANTRA, emphasized the significance of the partnership, stating:
"This collaboration is a testament to the growing acceptance of blockchain technology in traditional industries. Partnering with DAMAC Group allows us to showcase the potential of RWA tokenization in bringing transparency, efficiency, and accessibility to asset ownership."
The tokenized DAMAC assets will launch on the MANTRA Chain in early 2025, marking a major milestone in the application of blockchain for real-world use cases.
Why This Partnership Matters
Through this collaboration, both companies aim to address the traditional limitations of real estate investment by introducing secure and compliant blockchain solutions. This initiative also supports DAMAC’s ongoing efforts to innovate across its diverse portfolio, which includes ventures in real estate, fashion, data centers, and luxury brands.
About DAMAC Group
DAMAC Group is a multi-billion-dollar conglomerate headquartered in Dubai, UAE. With operations spanning real estate, hospitality, capital markets, and more, the group is recognized globally for its innovation and diversification. Notable projects include DAMAC Properties, the luxury DAMAC Towers Nine Elms in London, and the Maldives resort development. The group has also expanded into digital infrastructure through EDGNEX Data Centers, a venture focused on disrupting the global data center landscape.
About MANTRA
MANTRA is a purpose-built Layer 1 blockchain designed for real-world asset tokenization. By adhering to regulatory compliance and leveraging advanced technology, MANTRA empowers developers and institutions to participate in the evolving blockchain ecosystem. Its permissionless chain ensures seamless cross-chain interoperability while maintaining compliance with global financial regulations.
——————————————————
About Stakecito Labs
At Stakecito Labs, we've honed our craft as validators. Our reputation as the third-largest validator by delegation count within the Cosmos ecosystem speaks to our unwavering dedication and the trust placed in us by over 270,000 delegators worldwide.
Our validation services are not just about maintaining Cosmos blockchain networks though; we validate networks outside of Cosmos as well (NEAR, Aleph Zero, etc.).
Our core mission is centered on demystifying blockchain technology to ensure it's accessible for everyone, from newcomers to seasoned investors. To begin staking, visit our homepage.
Stake with Stakecito | Follow us on Twitter | Subscribe to Our YouTube | Governance
——————————————————
