DUBAI: MANTRA, a blockchain platform focused on real-world assets (RWAs), has signed a deal with Dubai developer DAMAC Group to tokenise assets in the Middle East worth at least $1 billion, the two firms said on Thursday.

Asset tokenisation allows rights to, or ownership of assets, including RWAs, to be converted into digital tokens on a blockchain, which can then be owned and traded online.

DAMAC, one of Dubai’s biggest developers, whose assets include real estate properties and data centres, has been investing in data centres across the world.

On Tuesday, its Chairman Hussain Sajwani and US President-elect Donald Trump announced it would invest $20 billion in data centres the US in the coming years.

“DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions,” the developer’s Managing Director of Sales & Development Amira Sajwani said in a statement.