Patrick

<a href="https://bitcoinworld.co.in/mantra-to-tokenize-500m-real-estate-assets-for-uae-builder-mag-group/" title="Mantra To Tokenize $500M Real Estate Assets For UAE Builder MAG Group" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">The Middle-East-focused Mantra will tokenize $500M real estate assets in several tranches.</li> 
 <li style="font-weight: 400">In March, the firm raised $11 million for its real-world tokenization efforts.</li> 
 <li style="font-weight: 400">Investors will earn yields through stablecoins and OM tokens.</li> 
</ul> 
Mantra Chain will tokenize $500 million worth of assets of Dubai-based real estate developer MAG Group, the firms said in a press release shared with CoinDesk. 
Mantra, which is focused on the Middle East, will tokenize the assets in multiple tranches. The first tranche will include a residential project, Keturah Reserve, which is being built by MAG in Meydan, Dubai.&nbsp; 
The tranche will also package a $75 million mega-mansion at ‘The Ritz-Carlton Residences, Dubai, Creekside’ development, part of the Keturah Resort. 
Investors will earn yield through stablecoins and Mantra’s OM token. They are expected to receive yields of 8% from the stablecoins and be granted additional OM tokens. 
“The specifics of the yield, such as which stablecoin will be used and the amount of OM to be allocated, are under discussion among MAG and Mantra,” the companies said, adding that they will start the final discussions in the coming weeks. 
At the time of writing, OM was <a href="https://coinstats.app/coins/mantra-dao/">trading</a> at 84 cents, after touching an all-time high of over a dollar in June, according to Coinstats. 
<figure id="attachment_76007" aria-describedby="caption-attachment-76007" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-76007" src="http://bitcoinworld.co.in/wp-content/uploads/OM-Price-Chart-483x300.png" alt="" width="604" height="375" srcset="https://bitcoinworld.co.in/wp-content/uploads/OM-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/OM-Price-Chart.png 760w" sizes="(max-width: 604px) 100vw, 604px">
 <figcaption id="caption-attachment-76007" class="wp-caption-text">
 OM Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Crypto firms have been pushing for tokenization of real-world assets (RWA) as another use for crypto and blockchain. Although the trend has garnered support from some traditional industries, broad adoption is likely to take time. Recently, McKinsey noted that the market for tokenized assets may reach $4 trillion by 2030 in an optimistic scenario, and warned that mass adoption for RWA is still far away. 
In March, Mantra raised $11 million for real-world tokenization. The firm was in the final stages of securing licensures from Dubai’s crypto regulator VARA, founder John Patrick Mullin said in March.

Mantra To Tokenize $500M Real Estate Assets For UAE Builder MAG Group

ItsBitcoinWorld

Other articles published on Jul 4, 2024

Bitcoin Miner Capitulation Signals Potential Rebound Amidst Market Turbulence

BIS says indebted nations may lose market confidence

MAG’s Blockchain Move: $500 Million in Real Estate Tokenization with Mantra’s Platform

Bittensor Network Shutdown After $8 Million Theft: What You Need to Know

BlockDAG Gears Up to Lead the Next Crypto Bull Run with 1300% Surge Amidst Filecoin and Mantle Pr...

Crypto Market Turbulence: $295M Liquidated in 24 Hours

Join our free newsletter for daily crypto updates!