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OM Sets New All-Time High Ahead of Big MANTRA Giveaway
MANTRA, a layer 1 blockchain platform specializing in the tokenization of real-world assets (RWA), has reached a new all-time high for its OM token.
Driven by anticipation of a major OM token distribution event, this surge has captured the attention of investors and participants.
Ensuring Fair Play: MANTRA’s Anti-Bot Measures for GenDrop
Yesterday, MANTRA announced that Season 2 of the 50 million OM MANTRA GenDrop will begin on July 17th on MANTRA’s Hongbai testnet. These tokens will be sold at $0.7 per token. Christoph Lidman, Director of Marketing at MANTRA, explained how Season 2’s GenDrop would be different from the previous one.
“Season 2 will feature a larger number of on-chain missions than Season 1, with a variety of missions centered around on-chain activities. Participants will earn ‘Karma Points’ through these activities, and higher Karma Points will lead to higher OM rewards at the conclusion of the season,” Lidman told BeInCrypto.
To know more: How to invest in real world cryptocurrencies (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 emphasized that early participants will have the opportunity to complete missions before the deadlines and receive exclusive rewards.
“Those with the most Karma points will move up the rankings and receive corresponding rewards. Latecomers will lose the initial on-chain missions and the chance to accumulate Karma points, especially since some missions will be limited in time,” he added.
To ensure fair competition, the team will be taking a snapshot of the Season 1 leaderboard on Galxe in 48 hours to determine the position of the top participants. Additionally, the MANTRA team has worked with the Galxe team to identify and remove bots from participation. These approaches will ensure that only genuine and worthy participants receive rewards.
Strategic Moves and Partnerships Fuel MANTRA’s Unprecedented Growth
Following this announcement, MANTRA’s native token, OM, has seen its value skyrocket, hitting a new all-time high of $1.31. As of today, the price of OM has increased by 16.5% in the last 24 hours. The price of OM against Bitcoin (BTC) has also seen a notable increase, up 12.8% in the same period.
OM’s price action has caught the attention of prominent cryptocurrency analysts, including Crypto Tony. He recently shared his insights into OM’s price action.
“I’m long from $1.05 as I said earlier. Nice bull moves here,” Crypto Tony wrote on X.
MANTRA’s remarkable growth can also be attributed to its various strategic partnershipsIn early July, BeInCrypto reported that MANTRA collaborated with MAGa real estate developer based in the United Arab Emirates (UAE).
Both companies will tokenize $500 million in real estate through the partnership. It also aims to offer safe, high-yield investments and drive innovation in real estate investments through tokenization.
Looking ahead, MANTRA plans to expand its focus to the UAE and Asian markets, taking advantage of the crypto-friendly regulatory environments. A MANTRA spokesperson told BeInCrypto that the company aims to revolutionize various industries through tokenization.
“Tokenization and the efficiencies it creates will be seen in the most diverse and, dare I say, unlikely places. Many industries will be changed forever,” the spokesperson said.
To know more: What is the impact of tokenization of real world assets (RWA)?
MANTRA’s recent success is in line with broader industry trends. A June report by McKinsey Predicts Tokenized Financial Asset Market could reach $2 trillion by 2030, driven by cash and deposits, bonds, mutual funds and securitizations.
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