In partnership with Virtuzone, MANTRA has unveiled a new initiative: an incubator based in Dubai World Trade Center. This program is geared towards advancing the field of Real-World Asset (RWA) tokenization, boosted by Shorooq Partners’ $11 million investment.
The Incubator Program
Five carefully chosen projects will receive $100,000 in seed funding each from John Patrick Mullin, the CEO of MANTRA, through its incubator program. This investment comes with strategic, administrative, and financial backing, enabling a smooth integration into the global MANTRA network.
In the early phases, the program will start in San Francisco and Hong Kong before moving to Dubai. This sequence of events is important as it allows us to firmly establish the projects’ bases before taking advantage of Dubai’s beneficial location and its many advantages.
Dubai: The Crypto Hub for Innovation
In the heart of the Dubai World Trade Center, occupying approximately 17,000 square feet on the Sheikh Rashid Tower’s floors in the Maktabi business center, lies an innovative space dedicated to cryptocurrency advancements. This area is designed to serve as a thriving hub where crypto-related projects and ideas can take shape and grow.
Mullin spoke about Dubai being the foundation of MANTRA’s cryptocurrency innovations, explaining, “We’re creating a comprehensive platform for creativity in the web3 realm, allowing promising businesses to utilize resources, connections, and an encouraging ecosystem in one of the most dynamic crypto communities worldwide.”
Neil Petch, Chairman of Virtuzone, and George Hojeige, its CEO, emphasized that the program fits perfectly with the UAE’s objective: creating ten “billion-dollar companies” (unicorns) by the year 2030.
Petch and Hojeige’s remarks highlight the incubator program as a favorable place for Web3 start-ups to thrive, and express their belief that it could serve as a significant foundation for the success of Web3.
Innovation Through Collaboration
Mantra provides a secure blockchain solution at the Layer 1 (L1) level, ensuring global regulatory compliance and enabling seamless cross-chain communication. Notably, Virtuzone, the leading corporate services provider in the UAE with over 70,000 companies established across 180 countries, strengthens Mantra’s foundation for this Web3 project.
After the successful launch of its incentivized testnet phase, Hongbai, in November 2023, MANTRA’s incubator program continues to support our strategic growth plan by extending our reach into new ecosystems.
MANTRA is committed to creating RWA-centric protocols on its L1 blockchain, with a focus on advanced compliance mechanisms that adjust to changing circumstances. Additionally, MANTRA aims to foster more technological advancements within the blockchain industry.
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2024-04-16 15:25