tl;dr
Mantra Chain plans to tokenize $500 million worth of real estate assets in Dubai in multiple tranches, with the first including a residential project and a mega-mansion. Investors will earn yields through stablecoins and Mantra's OM token, with an expected 8% yield from stablecoins and additional OM...
The firm, Mantra Chain, is set to tokenize $500 million worth of real estate assets in Dubai, offered in multiple tranches. This initiative will enable investors to earn yields through stablecoins and Mantra's OM tokens. The first tranche will encompass a residential project and a mega-mansion, with investors expected to receive an 8% yield from stablecoins and additional OM tokens. Details of the yield structure are currently under discussion. Mantra Chain recently secured $11 million for real-world tokenization, reflecting the growing trend of real-world asset tokenization within the crypto and blockchain space. While the push for tokenization is gaining traction, broad adoption is anticipated to evolve gradually over time.
Mantra Chain's tokenization efforts in Dubai involve collaborating with real estate developer MAG Group. The residential project, Keturah Reserve, and the $75 million mega-mansion at 'The Ritz-Carlton Residences, Dubai, Creekside' will be part of the initial tranche. Investors will receive yield through stablecoins and OM tokens, marking a pivotal step in the tokenization of real-world assets within the crypto industry. As discussions regarding the specifics of the yield progress between MAG and Mantra, the companies anticipate finalizing the details in the coming weeks. Notably, OM's current trading price stands at 84 cents, having reached an all-time high of over a dollar in June, according to CoinMarketCap.
The drive for tokenized assets has gained momentum within the crypto and blockchain sphere, with McKinsey projecting a potential $4 trillion market for tokenized assets by 2030 in an optimistic scenario. Despite this optimism, mass adoption of tokenized real-world assets is still on the horizon. Mantra's successful fundraising of $11 million in March underscores the industry's growing interest in real-world tokenization. The firm's progress in obtaining licensures from Dubai's crypto regulator VARA further solidifies its position in the evolving landscape of tokenized assets.
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Sector: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION
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Dividend Yield: None
Beta (5Y Monthly): None
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Earnings Date: -0.0158
Forward Dividend & Yield: 746228000, 10.03, 0
Ex-Dividend Date: 0.888
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EPS: 2.61
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