MANTRA partners with DAMAC for a $1B asset tokenization deal. It expands blockchain technology in real estate and investment opportunities.

MANTRA, a blockchain platform focused on real-world assets (RWAs), has signed a deal with Dubai developer DAMAC Group to tokenise assets in the Middle East worth at least $1 billion, the two firms said on Thursday.

The deal will allow token-based financing of DAMAC's wide range of portfolio companies that includes real estate development, hospitality and data centers.

UAE’s Damac Properties and blockchain firm Mantra announced a $1 billion partnership to tokenize real estate. What does this mean in the real world? You could soon buy a slice of luxury property for $100 worth of crypto — stablecoins, Bitcoin, whatever suits your wallet.

MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs), has signed a US$1 billion agreement with the Dubai-headquartered investment conglomerate DAMAC Group to tokenize asse