MAG turn go Mavryk for $10B Real Estate Tokenization, dem replace Mantra $500M Plan
For July 2024, MAG Group yan announce pilot wey go tokenise real estate worth $500 million with Mantra, wey dem wan make Dubai luxury property digitized. Di plan promise 8% APY vaults plus $OM token rewards. But regulatory wahala and wetin focus on retail dey stop di progress. Dis May, MAG bring back di project as $10 billion real estate tokenization command with Mavryk Network and Multibank. Mavryk Layer-1 blockchain wey get institutional standard dey provide compliance, scale, and security for big transactions. Together wit Multibank’s RWA Exchange, di system fit do trading, lending, and borrowing of tokenized assets. Dis change show say deal flow don growth 20 times and e show say dem trust di real estate tokenization infrastructure. Investors fit expect better liquidity, regulated market access, and better compliance. Dis $10B commitment fit set global level for RWA tokenization.
Bullish
By upgrade from $500 M pilot to $10 B mandate, MAG dey show say institutional trust strong for real estate tokenization. Mavryk Layer-1 blockchain and Multibank RWA Exchange dey provide compliance and liquidity wey block earlier retail-focused efforts. Dis strong infrastructure fit encourage wider RWA token use, attract institutional capital, and boost demand for related tokens. Traders fit see higher volumes and new real estate-backed instruments. Historically, big successful tokenization deals don spark bullish sentiment by proving real-world utility. Overall, the scale and execution focus of dis initiative support bullish market outlook for both short and long term.