OM Sets New All-Time High Ahead of MANTRA’s Big Giveaway

MANTRA, a layer-1 blockchain platform specializing in real-world asset (RWA) tokenizations, has reached a new all-time high for its OM token.

Driven by the anticipation of a major OM token giveaway event, this surge has captured significant attention from investors and participants.

Ensuring Fair Play: MANTRA’s Anti-Bot Measures for GenDrop

Yesterday, MANTRA announced that Season 2 of the MANTRA 50 million OM GenDrop starts on July 17 in MANTRA’s testnet, Hongbai. These tokens would be priced at $0.7 per token. Christoph Lidman, Director of Marketing at MANTRA, explained how the Season 2 GenDrop would differ from the previous one.

“Season 2 will feature an increased number of on-chain quests compared to Season 1, with a variety of missions focused on on-chain activities. Participants will earn ‘Karma Points’ through these activities, and higher Karma Points will lead to greater OM rewards at the season’s conclusion,” Lidman told BeInCrypto.

Read more: How To Invest in Real-World Crypto Assets (RWA)?

The initiative invites participants to join MANTRA.ZONE and complete tasks on the project page in Galxe to earn OM tokens through various activities. Lidman outlined that early participants will have the opportunity to complete missions before their deadlines and receive exclusive rewards.

“Those with higher Karma points will rank higher on the leaderboard and receive corresponding rewards. Latecomers will miss out on initial on-chain missions and the chance to accumulate Karma points, especially since some missions will be time-limited,” he added.

To ensure fair competition, the team will take a snapshot of the Season 1 leaderboard on Galxe in 48 hours to determine the standings of early participants. Furthermore, the MANTRA team has collaborated with the Galxe team to identify and remove bots from participating. These approaches will ensure that only genuine and deserving participants receive rewards.

Strategic Moves and Partnerships Fuel MANTRA’s Unprecedented Growth

Following this announcement, OM, MANTRA’s native token, saw its value soar, reaching a new all-time high of $1.31. As of now, OM’s price has surged by 16.5% in the last 24 hours. The price of OM against Bitcoin (BTC) also experienced a notable increase, up by 12.8% during the same period.

OM’s price movement has caught the attention of prominent analysts in the crypto space, including Crypto Tony. He recently shared his insights on OM’s price action.

“I am long as of $1.05 as had shared previously. Nice moves from the bulls here,” Crypto Tony wrote on X.

MANTRA’s remarkable growth can also be attributed to its various strategic partnerships. In early July, BeInCrypto reported that MANTRA partnered with MAG, a real estate developer based in the United Arab Emirates (UAE).

Both companies will tokenize $500 million in real estate through the partnership. Moreover, it aims to offer secure, high-yield investments and drive innovation in real estate investment through tokenization.

Looking ahead, MANTRA plans to expand its focus on the UAE and Asian markets, leveraging the crypto-friendly regulatory environments. A spokesperson from MANTRA explained to BeInCrypto that the company aims to revolutionize various industries through tokenization.

“Tokenization and the efficiencies it will create are going to be seen in the most varied and, dare I say, unlikely of places. Many industries are going to be changed forever,” the spokesperson said.

Read more: What is The Impact of Real World Asset (RWA) Tokenization?

MANTRA’s recent success aligns with broader industry trends. A June report by McKinsey forecasts the tokenized financial assets market could reach $2 trillion by 2030, driven by cash and deposits, bonds, mutual funds, and securitizations.