RWA-focused Layer-1 Blockchain MANTRA, supported by an impressive $11 million funding round led by Shorooq Partners, will launch a new incubation program at the Dubai World Trade Centre (DWTC). This project is an indicator of MANTRA’s commitment to promoting innovation in Real World Asset (RWA) tokenization, particularly in the Middle East and North Africa (MENA).
Support for Emerging Projects in the RWA Space
In collaboration with Virtuzone, one of the leading corporate service providers in the United Arab Emirates (UAE), MANTRA aims to nurture emerging projects in both its own ecosystem and the broader RWA environment by providing financial support, licensing, banking, and administrative services.
Five carefully selected distinguished projects will have the opportunity to join the incubation program, receiving specialized support to seamlessly integrate into the MANTRA Chain ecosystem.
The program, which offers each project a $100,000 seed investment funded by MANTRA’s founder and CEO John Patrick Mullin, shows a tangible commitment to fostering success. With the hands-on guidance of experienced project managers, project teams will explore invaluable networking opportunities and gain access to an investor pool, laying a solid foundation for future growth.
MANTRA’s Global Reach Expands
The program starts in Hong Kong, where participants immerse themselves in a dynamic technology environment for a month, followed by another month in San Francisco.
Finally, the teams will establish their main base at the prestigious Dubai World Trade Centre, leveraging the global platform to showcase their newly acquired skills and innovative solutions. MANTRA‘s CEO and Founding Partner John Patrick Mullin emphasized the broader goals of the program:
“We are creating a holistic platform for innovation in the Web3 space, enabling promising companies to benefit from resources, networks, and a nurturing environment in one of the most vibrant crypto scenes globally.”
Developing Web3 Ventures
Neil Petch, Chairman and Founding Partner of Virtuzone, also highlighted the growth potential of Web3 companies and shared their vision with the UAE government to promote projects that could reach a billion-dollar potential by 2030.
Echoing Petch’s views, Virtuzone Group CEO George Hojeige emphasized the project’s commitment to developing Web3 ventures and positioning itself as a significant supporter of technology in the region. Looking at the OM price, we see it trading at $0.80.
