A significant partnership between Mantra and Damac Group aims to advance blockchain technologies in the UAE through the tokenization of real-world assets.
Tokenization in the Middle East
The partnership between Mantra and Damac Group will enable the latter to leverage the Mantra blockchain network for tokenizing its extensive portfolio, including real estate, hotels, resorts, manufacturing, and other sectors. Based in the UAE, Damac Group aims to make the Mantra blockchain the preferred digital ledger for tokenized real-world assets.
The Future of Tokenization
In April 2024, John Mullin stated in the Hashing It Out podcast that tokenization would be a key trend due to the interest from organizations and projects in circumventing regulatory hurdles. He emphasized that 'everything will be tokenized' in the future, especially since it allows investments to remain on-chain without more volatile assets.
RWA Use Cases by 2025
Sergey Gorbunov, CEO of Interop Labs and co-founder of Axelar Network, predicted that the value of tokenized assets will double by 2025. According to an annual report by venture capital firm a16z, tokenizing unconventional assets could revolutionize income generation in the digital age by unlocking liquidity for traditionally non-liquid assets.
The partnership between Mantra and Damac Group could be a key milestone in the development of tokenization in the Middle East, supporting global trends in the crypto industry.
