What to know:
- MANTRA will tokenize at least $1 billion worth of property developer DAMAC Group's assets in early 2025, the companies said Thursday.
- DAMAC's portfolio encompasses real estate developments, hospitality, and data centers, having begun accepting crypto payments in 2022.
- Earlier this week, President-elect Donald Trump stated that DAMAC plans a $20 billion investment in data centers.
MANTRA, a layer-1 blockchain innovating in tokenized real-world assets, partnered with UAE-based DAMAC Group to introduce $1 billion worth of assets onto the blockchain. This strategic alliance aims to enhance investment avenues for DAMAC's diverse portfolio in sectors like real estate and hospitality. By digitizing these assets, the initiative promises a smoother investment process and improved access for various investors.
Further details regarding which DAMAC properties will be tokenized and the specifics of the offerings will be disclosed shortly. The start of these offerings is anticipated in early 2025.
Tokenization of real-world assets, like real estate and commodities, is a rapidly growing trend worldwide. Institutions and municipalities are increasingly looking to this technology for efficiency and greater accessibility, with market projections reaching trillions within this decade as indicated in various industry reports.
“Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities,” said Amira Sajwani, Managing Director of DAMAC.
MANTRA has recently focused on integrating a spectrum of traditional financial assets into its blockchain, announcing plans to tokenized $500 million worth from another Dubai developer, MAG Group. The mainnet launched in October, with its native token's market capitalization rising tremendously, reporting a near 200% increase within three months.
DAMAC has been actively exploring blockchain and cryptocurrency applications, having accepted Bitcoin and Ether payments since 2022, aligning with the UAE's crypto hub ambitions.
Notably, President-elect Donald Trump mentioned DAMAC's extensive $20 billion investment intentions for U.S. data centers earlier this week.
