Bitcoin 
$62,740 price recently dropped to a daily low of $91,800, causing declines in altcoins. Yet, those focused on long-term agreements continue to push forward. Today, MANTRA and DAMAC signed a significant agreement, marking a crucial step in the RWA sector.
MANTRA and DAMAC Join Forces
An agreement has been signed between the UAE-based real estate holding company DAMAC Group and the smart contract network MANTRA. This transaction entails the tokenization of a $1 billion real-world asset, aiming to facilitate access for both individual and institutional investors through asset tokenization.
The process of property tokenization is set to commence this year. The concept of moving real estate, commodities, funds, and securities to the blockchain has been evolving with concrete steps for some time. The RWA trend aims to reach a trillion-dollar market by simplifying access globally.
DAMAC’s CEO Amira Sajwani stated, “Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide array of investment opportunities.”
Tokenization of Real-World Assets
NFTs could have better use cases or may kickstart different milestones in gaming and entertainment. However, if finance and blockchain are to achieve something significant together, it is likely in the RWA space.
From bonds to real estate and more, blockchain can simplify transactions. Acquiring a bond from a company you believe in, regardless of its location, can only be facilitated through blockchain. This indicates that blockchain offers substantial conveniences over the infrastructure used by the current financial system.
Moreover, due to its transparency and immutability, blockchain presents numerous advantages. This is the reason early adopters, including BlackRock, hold numerous RWA tokens. Reports from McKinsey, BCG, 21Shares, and Bernstein indicate that RWA markets could reach trillions of dollars within a decade.
Competition in the tokenized bond market is already intensifying as rivals like Franklin strive to increase their market share. The value of these tokens is rising rapidly, potentially reaching hundreds of millions of dollars. We may witness a future where stocks and various assets are traded through blockchain.
