Author
Steve Muchoki
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
Key Notes
- MANTRA Chain collaborated with Google Cloud to provide RWAccelerator applicants with investment capital and technical expertise.
- OM price have continued to rally in the recent past despite the ongoing crypto bearish sentiment due to robust institutional backing.
The real-world assets (RWA) tokenization has grown to a $38.7 billion industry, with MANTRA OM $6.31 24h volatility: 2.7% Market cap: $6.22 B Vol. 24h: $60.50 M and Chainlink LINK $14.25 24h volatility: 8.2% Market cap: $9.09 B Vol. 24h: $495.82 M at the helm. The RWA industry is expected to grow exponentially in the near future as more institutional investors proliferate the blockchain industry to explore global capital markets.
Furthermore, blockchain technology has significantly eliminated the friction experienced by traditional financial systems. For instance, anyone with access to the internet can seamlessly invest in major stock indexes that are tokenized on different RWA platforms.
MANTRA Chain Enhances RWA Adoption
The MANTRA Chain has grown to a major layer one (L1) permissionless chain for permissioned applications, with a focus on bridging traditional finance (TradFi) with decentralized finance (DeFi). Earlier this year, the MANTRA chain announced a strategic collaboration with DAMAC Group, a UAE-based luxury property developer, to enable token-based financing for diverse properties, with the deal estimated to be worth around $1 billion.
In a bid to support further RWA development and mainstream adoption, MANTRA Chain announced the launch of RWAccelerator, a start-up accelerator program aimed at empowering developers with investment capital and technical support.
The RWAccelerator program has also been supported by Google Cloud, which will provide developers with access to cloud credits and technical expertise from Google engineers.
“This is a powerful opportunity for startups to harness cutting-edge technology and gain access to resources and mentorship. With support from Google Cloud, this RWAccelerator will allow startups to reach new heights and significantly contribute to the wider Web3 community,” John Patrick Mullin, CEO of MANTRA, noted.
According to Richard Widdman, a well-known public figure within the MANTRA Chain, the RWAccelerator program will create an environment where startups can thrive in the web3 space.
Market Impact
As the second largest RWA-focused blockchain, with a fully diluted valuation of about $13.3 billion and a daily volume of about $189 million, $OM coin has received significant support from both retail and institutional investors.
According to the latest market data, $OM price has rallied over 29x in the past year. Remarkably, on-chain data analysis by IntoTheBlock shows that more than 97% of OM holders are in profit.
The launch of the RWAccelerator program will be a major utility boost to OM in the near future, thus bolstering its ongoing bullish outlook. Moreover, the competition in the RWA and blockchain sector has significantly thinned the capital inflow from retail and institutional investors.
Nonetheless, OM has gained significant mainstream momentum to guarantee sustainable future growth prospects. Furthermore, the MANTRA core team is focused on ensuring the OM coin is deflationary through the burn process, which has so far obliterated 6.2% of the token’s total supply, worth about $408 million.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Editor-in-Chief
Julia Sakovich
