The Mantra blockchain network has launched a new $108,888,888 ecosystem fund aimed at supporting startups focused on real-world asset tokenization and DeFi.
About the Mantra Ecosystem Fund
Mantra, a layer-1 blockchain, has announced the launch of the Mantra Ecosystem Fund (MEF), intended to accelerate the growth and adoption of projects centered around real-world asset tokenization and DeFi. The fund will operate over four years, backing promising blockchain projects worldwide.
Growing Interest in Real-World Asset Tokenization
The launch of the fund aligns with increasing institutional interest in real-world asset tokenization, seen as a hedge against volatility in the cryptocurrency market. According to data from RWA.xyz, the total RWA market capitalization reached over $19.6 billion by early April.
Partners and Financing
The fund will be backed by a diverse range of partners, including firms like Laser Digital, Shorooq, and Amber Group. Mantra's CEO John Patrick Mullin stated that the fund will welcome projects at any development stage, with a particular focus on RWA and DeFi.
The establishment of the Mantra fund not only addresses rising interest in real-world asset tokenization but also solidifies the company's position as a significant player in the decentralized finance market.
