- Initial tokenization includes Dubai’s Keturah Reserve and a $75M Ritz-Carlton mansion.
- Investors to earn 8% yields from stablecoins, with additional OM tokens as incentives.
- MANTRA’s secure Layer 1 blockchain ensures transparent and safe real estate tokenization.
MANTRA Chain, a planned network for swapping tokenized real estate and other assets, has teamed with MAG, a renowned UAE developer, to tokenize $500 million in assets. MAG has a real estate portfolio worth over $5 billion, while MANTRA is mostly focused on the Middle East.
Tokenization Strategy: Multiple Tranches
Mantra will tokenize the assets over multiple tranches. The first tranche will feature Keturah Reserve, a luxury residential project in Dubai’s Meydan area. The tranche will also include a $75 million mega-mansion at ‘The Ritz-Carlton Residences, Dubai, Creekside’ development, which is part of the Keturah Resort.
Security and Yield for Investors
Furthermore, the project will benefit from MAG’s strong corporate creditworthiness, providing investors with a comprehensive layer of security in a robust environment. Investors will earn a yield from stablecoins and Mantra’s OM token. They are expected to receive 8% yields from the stablecoins and be given more OM tokens.
John Patrick Mullin, CEO and Co-Founder of MANTRA stated that this will establish new norms for real estate tokenization, providing global investors with access to premium real estate assets in the UAE.
Partnering with MAG represents a major milestone in our mission to bridge blockchain with tangible assets, with a special focus on the Middle East.
The announcement stated that MANTRA’s institutional-grade secure Layer 1 blockchain infrastructure will provide a secure and transparent platform for tokenization. MAG will contribute its extensive portfolio and expertise in the UAE’s real estate market.
Growing Demand for Real World Asset (RWA) Tokens
Real World Asset (RWA) tokens are emerging as a promising frontier in the rapidly evolving world of cryptocurrency investments. Ripple recently announced the expansion of its partnership with Archax, the UK’s first Financial Conduct Authority-regulated digital asset exchange, which will bring hundreds of millions of dollars in tokenized real-world assets (RWAs) to the XRP Ledger (XRPL) over the next year.
Top 4 Under $1 Altcoins: Leading Innovations in Crypto AI and RWAsMantra’s Recent Funding and Market Expansion
In March, Mantra announced the conclusion of a new funding round. Shorooq Partners, a top venture and technology investor in the MENA region, led the $11 million investment round. Ondo Finance recently announced the debut of USDY on the MANTRA Chain, which will increase on-chain liquidity and bridge the gap between traditional and decentralised finance.
