MANTRA Chain has announced the launch of its $108,888,888 million MANTRA Ecosystem Fund (MEF).
The investment plan aims to accelerate the growth and adoption of blockchain projects within the project’s blockchain.
The Ecosystem Fund
According to an April 7 press release shared with CryptoPotato, the fund will be deployed over the next four years to support blockchain projects worldwide. The team described the initiative as a strategic growth engine that will provide capital to startups and globally recognized investment firms.
“In an era where blockchain technology is revolutionizing finance, the MEF will serve as a catalyst for groundbreaking projects that drive real-world adoption through a focus upon the tokenization of real-world assets,” said John Patrick Mullin, CEO and founder of MANTRA.
Investment opportunities will be sourced through the platform’s extensive partner network, which includes leading incubators and accelerators.
According to the announcement, the MEF will focus on supporting projects that are innovating in RWA tokenization, including those at any stage of development and even those that are chain-agnostic. The initiative also aims to create collaboration between blockchain pioneers and leading investment firms to support the adoption of RWA tokenization and decentralized finance (DeFi).
Gideon Daitz, partner at Three Point Capital, who will lead the project, emphasized the mission to support RWA tokenization globally by providing teams with capital, network, and expertise to put high-quality assets on-chain.
He explained that the company would mainly focus on building on the MANTRA ecosystem while emphasizing the importance of collaboration and an open-arms policy for the benefit of the community and the industry. Daitz added that this approach will include making focused investments into fewer teams with stronger ties to its network of resources.
More Developments
MANTRA Chain is a permissionless layer 1 blockchain that enables the tokenization of real-world assets while ensuring compliance with real-world regulatory requirements. To achieve this, the network offers advanced technology modules, compliance mechanisms, and cross-chain interoperability.
The MEF launch follows a previous achievement of becoming the first DeFi platform to obtain a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This permit allows MANTRA to operate as a virtual asset exchange and offer broker-dealer and management and investment services.
The latest development also comes less than two weeks after DWF Labs, a Dubai-based crypto market maker and investor, launched a $250 million liquid fund aimed at expanding blockchain projects of various sizes.
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