This is the story of how a talisman got a profitable RWA deal – then lost it. At a value of $ 500 million, it was reported when it was exposed to a sensation a year ago, and the news was followed by the radio silence from the two sites. Then, apparently from nothingness, the deal appeared this year. But this time it was granted to a different set of 1 Blockchain layer whose name begins with M – its 6X has multiplied along the way.
A talisman, Mag, and the deal that was never
On July 3, 2024, the assets in the real world broke a talisman news One of the largest symbolic deal in its history. “Mantra and Mag will cooperate to give the democratic character access to luxury real estate in the United Arab Emirates using safe cellar products with a return -backed L1 Mantra technology.” It looks before any account of the real deal, an agreement that will put RWAS on the map and make a talisman a major race in the race symbol in the real world of all kinds.
The news was confirmed in a company Blog post,, Which was placed in the terms of the deal with the real estate giant in Dubai, noting: “Investors participating in the Vauult product will benefit from a convincing bonus structure. They can expect a joint return, with an estimated 8 % of APY created from Stablecoins, which is increased by more distinctive symbol in Mantra, $ om.”
Coindsk also It was captured in the story, adding that the $ 500 million deal will include “granting $ 75 million in” Ritz -Carlton Rennstes, Dubai, Krixide “, part of the Kitura Resort.” On July 3, CEO of John Patrick Moulin discussion Conditions of the deal in a video interview, with Arabic translations for viewers who descend from the Mag Group Group seat.
Then … nothing. It is just like the deal. We know that it is still active by late 2024, even if it is not an active talisman, because JP Mullin mentioned it in Traffic In November. His last participation on this topic happened in January, when we tweeted: “I looked back in 2024: he started proposing a symbol … He ended with Google Cloud, Blackrock and Mag.”
After that, from anywhere, the wild rick appeared.
Player enters the game
On May 1, was open The Mag Group has signed a deal with Mavryk Dynamics for a $ 3 billion code of real estate assets, including the same assets that were martyred in the original Mantra deal: The Ritz-Carlton in Dubai. But this time, the real estate group was going further and committing 3 billion dollars from its real estate portfolio, with the release of the assets on the new Rejibank platform that works on Mavryk.
On a superficial basis, Mavryk and Mantra seem to have a lot of common denominators: both RWA Layer 1S. They share the same wide task and have widely similar names. Psychologically, Paul Allen and the other Patrick Batman. The issue of those who obtained a better shave and work card should still be determined. But with a real estate deal in Dubai, which is now looking to transfer it to Mavrick, it is clear who runs the Forcher account, if it is permissible to speak.
Regardless of the size of a six -fold deal, most other details appear to be unchanged from the original Mantra deal, such as the opportunity for holders of the distinctive symbol to earn the return on basic real estate, all of which were paid onchain. Looking at the silence of Mantra since the first announcement of its own deal last June, followed by the MAVRYK rejoicing when it was unveiled that month, it seems that MAG has jumped – or is it simply surrounding her bets?
MAVRYK, Mantra and Mag’s Merry-Great-Round
It is easy to speculate on the reason that the MAG group has chosen to move forward in the Rebukeenization deal using a different Blockchain partner and arish. The most benign of these are the desire to get the ball again after the original Mantra deal is stagnant. Whether it is for technical reasons, financial reasons, or some other complications, the Mag’s asset collection has been left in the distinctive symbol to fold for about a year.
But another possible reading of the situation is that the Mag Group did not jump on the ship: perhaps it had simply turned its bets and was elected to move forward with it. Mavrick Also keep a talisman deal on the table. A hint of this can be found in a Mantra JP Mullin tweet in March, when he is books: “I think Dubai has a plan to reject and trade broken assets in the first half of this year.” When asked if the assets would be symbolic on a talisman or anywhere else, he answered, “Perhaps both.”
Wherever the truth lies, this can be said a lot with confidence: Mavryk now has a deal that allows it to repeat one of the largest real estate portfolios in the history of RWA. And with the appearance of the MAG group apparently on converting this one into my work reality, alongside the MultiBank source, the momentum with Mavryk. The responsibility now to seize this opportunity and use it to turn propaganda into a working real estate reality – and the better.
