The Rise of Real World Assets in Web3: MANTRA Chain Secures $11 Million Funding
The Real World Assets (RWA) sector in the Web3 industry has gained significant attention in recent months. Experts believe that RWA projects will play a crucial role in the current bull run, attracting millions of dollars from investors who recognize the potential within this sector. MANTRA Chain is the latest RWA project to secure substantial funding, raising $11 million to build a robust RWA network on Cosmos.
MANTRA Chain’s Ambition and Funding
MANTRA Chain aims to become the leading RWA project on Cosmos, and its successful fundraising round brings it one step closer to achieving this goal. The project plans to utilize the $11 million raised to develop a strong RWA network.
Shorooq Partners, an early-stage backer, led the funding round, with participation from Three Point Capital, Forte Securities, Virtuzone, Hex Trust, and GameFi Ventures. MANTRA Chain’s team intends to embark on additional fundraising rounds in the future.
Targeting Crypto-Savvy Users and Regulatory Compliance
MANTRA Chain’s CEO, John Patrick Mullin, stated that the project will focus on catering to a crypto-savvy crowd—users who are already familiar with cryptocurrencies and decentralized finance (DeFi). The team plans to allocate the recently acquired funds towards promoting scalable RWA tokenization and ensuring regulatory compliance.
Mullin expressed his enthusiasm about the funding round’s impact on their vision, saying, “This funding not only accelerates our vision of bringing the world’s financial ecosystem on-chain but also solidifies our commitment to the Hong Kong and Middle Eastern markets.”
Boosting Economic Growth in the Middle East & Asia with MANTRA
MANTRA Chain’s primary focus is on the Middle East, and the project is currently in the final stages of securing a license from Dubai’s regulatory body. The team recognizes the importance of obtaining regulatory approvals to facilitate the issuance and trading of RWAs. MANTRA Chain also aims to enhance market liquidity and foster growth, making investments more accessible throughout the Middle East and Asia.
By promoting economic growth and activity in these regions, MANTRA Chain seeks to create new investment opportunities and attract foreign investors. This aligns with the region’s aspirations of becoming leaders in financial innovation.
Unique Features of MANTRA
The RWA sector is expected to become a multi-billion-dollar industry by the end of this decade. While the sector is still in its early stages, MANTRA Chain aims to establish itself as a dominant player before it expands further.
Mullin emphasizes that MANTRA Chain intends to redefine eligibility for RWA trading and determine whether it should be more controlled or free-form, similar to meme coin trading. The project envisions creating a permissioned environment where users must go through an onboarding process but once inside, they have full access.
Hot Take: The Future of RWA Projects
RWA projects are gaining momentum within the Web3 industry, and MANTRA Chain’s successful funding round highlights the potential for growth in this sector. With its ambitious plans and commitment to regulatory compliance, MANTRA Chain aims to revolutionize the financial ecosystem by bringing real-world assets onto the blockchain.
As more investors recognize the value of RWA projects, we can expect further developments and innovations in this space. MANTRA Chain’s journey will serve as a catalyst for other RWA projects looking to secure funding and establish themselves as key players in Web3.
Stay tuned for more updates on the rise of real-world assets in the crypto industry!
Disclaimer: The information provided in this article is for educational, entertainment, and informational purposes only. It is not financial advice, and any investments made based on this information are at your own risk. Please conduct thorough research and consider your risk tolerance before investing in cryptocurrencies or any other high-risk assets.
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