So, Mantra—this shining beacon of hope for the world of real-world asset (RWA) tokenization—has just plummeted over 90% in the past 24 hours. Yes, you read that right. Ninety percent. Maybe it was looking for a dramatic entrance to the world of “doomed assets” or perhaps it just wanted to give us all a crash course in market volatility. Either way, it’s certainly *making waves*.
But wait—just a couple of days ago, Mantra (OM) was proudly boasting about its 640% gain over the last 12 months. Oh, how the mighty have fallen. At last check, Mantra’s once glorious $6-billion market cap has been reduced to a mere $485 million. Somebody cue the sad trombone, please.
Patrick Mullin, the CEO of Mantra (who is presumably still trying to figure out what went wrong), recently spoke to crypto.news. He had grand plans about being the “fully compliant, end-to-end ecosystem for RWA tokenization and trading.” And let’s not forget that Mantra had just secured a VASP license from Dubai’s VARA—basically a shiny golden ticket that allowed it to legally operate as a virtual asset exchange. However, that golden ticket is looking a little tarnished now.
As for whether this plummet will stop Mantra from carrying out its grand plans? Well, let’s just say the answer is as clear as a muddy puddle.
MANTRA Ecosystem Fund
Oh, and in case you were wondering if all the drama would stop them from pushing forward, Mantra has launched a shiny new fund! This fund, designed to support RWA and DeFi projects globally, will supposedly exist for over four years. Let’s all hold our breath, shall we?
The company, despite its minor setback, continues to offer OM-token grants and capital investments. They’re still focused on lending/borrowing, trading, asset management, derivatives, and—because apparently that wasn’t enough—*infrastructure*.
And just when you thought they couldn’t get any more ambitious, Mantra inked a $1-billion tokenization deal with DAMAC Group. Yes, you read that right: Real estate, hospitality, and data centers. Because why not? Maybe they’re hoping for a miracle.
This is a developing story, folks. Stay tuned for more twists, turns, and probably a few more plummets. Who needs stability when you have entertainment?
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2025-04-13 23:28