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MANTRA Partners with Google Cloud for Web3 Expansion
MANTRA has announced an official partnership with Google Cloud as the L1 network will use Google as a primary validator for its mainnet.
According to MANTRA’s announcement, this partnership will extend to Google’s recently launched Cloud Web3 Portal. MANTRA will create a testnet within the portal to allow developers to work on the L1 ecosystem and receive free OM tokens.
MANTRA is Building on Its Mainnet Launch with Notable Partnerships
In addition to the Google Cloud partnership, MANTRA is also collaborating with BCW Group as its implementation partner. BCW is one of the leading Web3 infrastructure solution providers for the Google Cloud ecosystem.
Read More: What Are Tokenized Real-World Assets (RWA)?
The network launched its official mainnet last week. Following this launch, the network can now bring tokenized real-world assets (RWAs) on-chain, while allowing users to stake OM tokens and earn staking rewards.
Working alongside Google Cloud is a testament to MANTRA’s growth and development, as well as a mark of credibility for the real-world asset industry,” the network’s CEO JP Mullin said in an X (formerly Twitter) post.
The mainnet launch also shifts OM token from Ethereum’s ERC-20 to the MANTRA Chain. Despite these developments, the OM token is underperforming, as the token has lost nearly 5% since the mainnet launch.
OM is still the largest RWA token in the market, with a $1.2 billion market cap, closely followed by ONDO. The token’s recent performance is largely due to liquidation after OM hit its all-time high on October 14.
Since its launch a year ago, MANTRA’s OM token has gained more than 6500%, quickly becoming the largest RWA asset in the market.
The overall RWA tokenization industry has experienced significant growth this year. RWA tokens currently make up approximately 0.33% of the overall crypto market.
Read More: How To Invest in Real-World Crypto Assets (RWA)?
Nonetheless, the RWA tokenization industry has expanded significantly this year. RWA tokens currently have a market cap of $8.56 billing, making up approximately 0.33% of the overall crypto market.
Most recently, Ripple Labs has begun exploring RWA options, as the network is reportedly looking to expand into tokenized bonds and money market funds.
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