Real-world asset (RWA) tokenization platform, MANTRA (OM) has spiked over 50% in the past 7 days with it hitting a new all-time high of $5.87 on 31st January.
The spikes in OM price follows MANTRA’s recent partnership with Dubai’s luxurious real-estate firm DAMAC Group. Under this deal, both the firms will collaborate to enable token based financing for assets in the real estate sector.
As per Coinmarketcap data, OM is currently trading near $5.63, up 20% and its trading volume has spiked over 160% 24 hours.
DAMAC Group will begin tokenizing its assets on MANTRA Chain this year with offering greater transparency, security and accessibility to investors.
“This partnership with DAMAC Group is an endorsement for the RWA industry,” said JP Mullin, co-founder and CEO of MANTRA, adding “We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain.”
A recent report from Statista cites that the real-estate industry is expected to become the largest tokenized real-world asset class by 2030. This sector is getting broader day by day with several multinational conglomerates planning to join the race in tokenizing their real-world assets on blockchain.
The current market cap of RWA-based crypto assets currently sits at $39.9 billion, which has risen 6.6 in the past 24 hours.
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