Mavryk Dynamics is celebrating after securing a major deal that will give its new RWA blockchain a multi-billion dollar liquidity boost. An agreement made with investment firms MAG and Multibank Group will see $3B of tokenized real estate issued on Mavrk Network, giving serious momentum as the Layer 1 chain gets up to speed.The deal is a coup for Mavryk given the number of RWA ecosystems that would be only too happy to take on the sort of premier properties that MAG and Multibank Group oversee. The $3B package includes properties pertaining to the Ritz-Carlton luxury hotel chain as well as Ketura Reserve, which specializes in new-build apartments in Dubai.
RWA Moves Up a Gear
The saying “Slowly, then all at once” seems the best way to describe what’s happening in the RWA sector at present. Having spent the last three years developing the onchain infrastructure for real-world assets to be tokenized and compliantly traded, web3 developers are now starting to witness the fruits of their labors as major players bring their business to the blockchain world. And they don’t get much bigger than MAG and Multibank Group.
While the deal was concluded between Mavryk Group and the two investment firms in question, the assets themselves will be issued on MultibankIO’s new platform for real estate, which operates on Mavryk Network. Mavryk Dynamics, meanwhile, will assist with the technical side of tokenization and will help with the construction of any secondary financial markets that are derived from the underlying RWAs.
Mavryk Makes Its Mark
Mavryk is a rising star of the RWA sector, despite having been comparatively late to the game. Since arriving, however, it’s wasted no time in making a name for itself, with the headline-grabbing $3B RWA tokenization deal following a string of other newsworthy events. In February, Mavryk Dynamics revealed that it had secured more than $5M in private funding. VCs including Big Brain, MetaVest Capital, and Cluster Capital all wrote checks after concluding that they were aligned with the company’s vision for supercharging RWA tokenization.Mavryk is also believed to be making plans for a forthcoming token generation event (TGE) that will enable the public to acquire the native asset of its Layer 1 chain. While trading RWAs requires user verification for compliance purposes, Mavryk is eager to make the assets on its chain available to as many DeFi users as possible. It’s thus intent on ensuring that the products issued on its L1 are not just accessible, but also composable, allowing them to form the backbone of other DeFi primitives such as lending and stablecoin issuance.
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