beincrypto.com
MANTRA, a layer-1 blockchain platform specializing in real-world asset (RWA) tokenizations, has reached a new all-time high for its OM token.
Driven by the anticipation of a major OM token giveaway event, this surge has captured significant attention from investors and participants.
Strategic Moves and Partnerships Fuel MANTRA’s Unprecedented Growth
Yesterday, MANTRA announced that Season 2 of the MANTRA 50 million OM GenDrop starts on July 17. The initiative invites participants to join MANTRA.ZONE and complete tasks on the Galxe project page to earn OM tokens.
Early participants on MANTRA.ZONE will receive exclusive rewards. To ensure fair competition, the team will take a snapshot of the Season 1 leaderboard on Galxe in 48 hours to determine the standings of early participants.
Read more: How To Invest in Real-World Crypto Assets (RWA)?
This competitive environment in MANTRA’s testnet, Hongbai, promises substantial rewards, with 50 million OM tokens up for grabs, priced at $0.7 per token. Following this announcement, OM, MANTRA’s native token, saw its value soar, reaching a new all-time high of $1.31. As of now, OM’s price has surged by 16.5% in the last 24 hours.
The price of OM against Bitcoin (BTC) also experienced a notable increase. OM/BTC has surged by 12.8% during the same period.
OM’s price movement has caught the attention of prominent analysts in the crypto space. Crypto Tony, a pseudonymous analyst, shared his insights on OM’s price action.
“I am long as of $1.05 as had shared previously. Nice moves from the bulls here,” Crypto Tony wrote on X.
MANTRA’s remarkable growth can also be attributed to its various strategic partnerships. In early July, BeInCrypto reported that MANTRA partnered with MAG, a real estate developer based in the United Arab Emirates (UAE).
Both companies will tokenize $500 million in real estate through the partnership. Moreover, it aims to offer secure, high-yield investments and drive innovation in real estate investment through tokenization.
Looking ahead, MANTRA plans to expand its focus on the UAE and Asian markets, leveraging the crypto-friendly regulatory environments. A spokesperson from MANTRA explained to BeInCrypto that the company aims to revolutionize various industries through tokenization.
“Tokenization and the efficiencies it will create are going to be seen in the most varied and, dare I say, unlikely of places. Many industries are going to be changed forever,” the spokesperson said.
Read more: What is The Impact of Real World Asset (RWA) Tokenization?
MANTRA’s recent success aligns with broader industry trends. A June report by McKinsey forecasts the tokenized financial assets market could reach $2 trillion by 2030, driven by cash and deposits, bonds, mutual funds, and securitizations.