Mantra Chain to Tokenize $500M Worth of Real Estate Assets for Dubai Developer MAG Group
Dubai-based real estate developer MAG Group will have $500 million worth of assets tokenized by Mantra Chain in multiple tranches. The first tranche will include a residential project and a $75 million mega-mansion. Investors will earn yields through stablecoins and Mantra's OM token, with expected yields of 8% from the stablecoins and additional OM tokens. The specifics of the yield are still under discussion. Mantra raised $11 million for real-world tokenization in March and is focused on the Middle East.
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