MANTRA Tokenize $500 Million Real Estate Assets With UAE

Bittime - Mantra Chain announced the tokenization of $500 million worth of real estate assets with Dubai's MAG Group. Investors can earn yield through stablecoins and OM Mantra tokens, in an effort to support the adoption of blockchain technology in the property sector.

MANTRA Tokenize $500 Million Real Estate Assets dengan UAE

In a press release sent to CoinDesk, Mantara Chain announced that it will tokenize $500 million in assets of Dubai-based real estate developer MAG Group. With a focus on the Middle East, Mantra will tokenize assets in stages. 

The first part of the initiative will include MAG's residential project, Keturah Reserve, which is under construction in Meydan, Dubai. It will also include a $75 million mega-mansion in part of the Keturah Resort development, "The Ritz-Carlton Residences, Dubai, Creekside."

Investors Earn Yields Through Stablecoins and Mantra Tokens

Investors will earn yield through stablecoins and OM Mantra tokens. They are expected to receive an 8% yield on the stablecoin, as well as additional OM tokens. 

“Yield specifications, such as which stablecoins will be used and the amount of OM to be allocated, are under discussion between MAG and Mantra,” the company said. They also stated that they plan to begin final discussions in the coming weeks.

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MANTRA Traded 84 Cents

According to CoinMarketCap, MANTRA is trading at 84 cents, after touching an all-time high of more than a dollar in June. Digital asset companies have been pushing the use of real-world asset (RWA) tokenization as an additional option for crypto and blockchain. 

Although some traditional industries support this trend, its widespread adoption may take time. McKinsey recently noted that, in an optimistic scenario, the tokenized asset market could reach $4 trillion by 2030, but warned that mass RWA adoption is still a long way off.

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Conclusion

Mantra Chain has announced an initiative to tokenize $500 million worth of MAG Group real estate assets. The focus is on luxury properties and housing in Dubai, such as Keturah Reserve and The Ritz-Carlton Residences. Although the real-world asset tokenization market is expected to reach $4 trillion by 2030, McKinsey says mass adoption remains difficult. However, investors will earn returns via stablecoins and OM Mantra tokens, with an estimated yield of 8%.

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