MANTRA: An Honest Testimony to Strength and the Future of Real Estate Tokenization
As blockchain and real-world asset (RWA) tokenization continue to grow, MANTRA has been one of the key projects to watch. The project has faced extreme challenges — including a dramatic drop in its token price — but it has also recovered strongly and continued to be committed to its vision. MANTRA's story is an interesting example of both the pitfalls and potential of tokenized property.
How It Started
MANTRA began in 2020 as MANTRA DAO. It initially focused on decentralized finance (DeFi). In 2023, it rebranded to MANTRA Chain, a blockchain platform built on Cosmos SDK. The new version focused on turning real-world assets like real estate, art and commodities into tokens. The platform focuses on compatibility with legal systems and real-world use cases.
Partnerships That Propelled It Forward
MANTRA expanded with the assistance of strategic partnerships, particularly within the Middle East. In January 2025, it penned a $1 billion agreement with DAMAC Group, one of the largest real estate developers in the UAE. Previously, it inked a $500 million agreement with MAG Group to tokenize property in Dubai. These agreements both support the UAE's digital asset ambitions and have the endorsement of local regulators such as VARA.
What Happened in April 2025
MANTRA's token OM lost more than 90% of its value in a day — from $6.30 to under $0.50 — on April 13, 2025. It was not due to hacking or fraud. It was likely caused by forced sell-offs on exchanges after a huge deposit to OKX.
He sold his posessions.
— Lawrence Linker (@mrprovost2u) April 19, 2025
Went unpaid for 2 years.
Built @MANTRA_Chain into a $6B beast—then watched it collapse in hours.
Is it a comeback or a cover-up? I'll leave it to you to decide.@jp_mullin888 on Coinversations: pic.twitter.com/xJsOkbe4MV
Source: @mrprovost2u / X
Bitrue reported that the crash was further triggered by sudden market volatility and a absence of buyers. This event showed how even well-performing projects can be harmed by events on trading platforms.
Burning 300 Million Tokens
Right after the crash, MANTRA CEO John Patrick Mullin made a drastic move. He burned 150 million OM tokens — almost his whole personal stash. It was a public action to bring back trust and to show the team's long-term commitment.
A few words about the @Mantra_Chain situation — from our perspective.
— BlockHunters (@BlockhuntersOrg) April 25, 2025
BlockHunters has been a validator and community builder for MANTRA since even BlockHunters was LIVE.
We’ve supported the mission of bridging real-world finance with onchain infrastructure, and we’ve… pic.twitter.com/ZA9TbdSuSz
Source: @BlockhuntersOrg / X
Soon after, the project announced it would burn a further 150 million tokens in conjunction with ecosystem partners. In total, 300 million tokens were to be removed from supply. This helped to rebalance the token economy and offer better rewards to those who continued to hold and stake OM.
Why This Matters for Real Estate Tokenization
What happened to MANTRA is a reminder of how difficult things can become — but also how projects can survive and recover. The team did not quit. They continued to be open, acted fast, and continued to work with their partners.
Even after the crash, MANTRA is still working with big developers like DAMAC and MAG. UAE regulators still support the project as part of Dubai’s larger plan for real estate tokenization. That kind of recovery is rare, especially in crypto.
Conclusion
MANTRA's journey has not been without its bumps. But its actions — like the 300 million token burn — show that the team is serious about building something real. They're not chasing hype; they're considering long-term value, trust and good tech.
In a sector crowded with short-term gains and risky projects, MANTRA is showing that real estate tokenization can be strong and stable — even during difficult times.