MANTRA Launches RWAccelerator Program with Google Cloud Support
MANTRA, a Layer 1 blockchain platform, has announced the launch of a startup accelerator program called RWAccelerator, aimed at driving the tokenization of real-world assets (RWAs). The initiative has received backing from Google Cloud and offers startups funding, expert mentorship, AI-driven resources, and technical support to develop solutions in sectors such as real estate, financial products, and alternative assets. The announcement was made at Consensus Hong Kong.
The timing of the RWAccelerator is crucial as the tokenized asset space is gaining momentum. According to the World Economic Forum, by 2027, around 10% of the world’s GDP – approximately $10 trillion – could be stored on blockchain networks, with RWAs playing a significant role in this transformation.
Richard Widmann, the global head of Web3 strategy at Google Cloud, emphasized the importance of bridging the gap between traditional businesses and the crypto space. He stated, “Our mission is really to build that bridge between kind of the large, planetary scale businesses that people use and are familiar with every day, particularly people who are not in the crypto space, and create that on-ramp for those folks.”
Startups interested in the RWAccelerator program can apply for one of three tracks: infrastructure, tokenization, or decentralized finance (DeFi). Successful applicants will have access to Google Cloud’s resources, including cloud credits, technical support, and workshops conducted by Google engineers. Additionally, MANTRA’s team will provide guidance on smart contracts, tokenomics, legal compliance, and market strategies.
John Patrick Mullin, CEO of MANTRA, expressed his enthusiasm for the program, stating, “This is a powerful opportunity for startups to harness cutting-edge technology and gain access to resources and mentorship. With support from Google Cloud, this RWAccelerator will allow startups to reach new heights and significantly contribute to the wider Web3 community.”
The application process for the first cohort of RWAccelerator is open until March 20, 2025, with the program set to commence in Dubai in April. A second intake is scheduled to open on the same day the first round closes.
The launch of the accelerator program follows MANTRA’s recent approval for a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling the company to offer exchange, broker-dealer, and investment services in the region.
In summary, MANTRA’s RWAccelerator program, supported by Google Cloud, aims to drive innovation in the tokenization of real-world assets and contribute to the growth of the Web3 community. With a focus on providing startups with the necessary resources and mentorship, the program is set to play a significant role in shaping the future of blockchain technology.