Dream Team Targets $10bn Tokenized Property Market in UAE

A consortium of blockchain and real estate heavyweights aims to revolutionize property ownership by tokenizing $10 billion of UAE real estate. The alliance combines Mavryk's RWA-focused Layer-1 blockchain, MultiBank's derivatives expertise, MAG Group's Dubai property portfolio, and Fireblocks' institutional custody solutions.

The initiative comes as tokenized RWAs gain traction in crypto's $3.7 trillion ecosystem, though the $24.8 billion on-chain RWA market remains dwarfed by global real estate's $226 trillion valuation. 'We are still early' takes on new meaning as institutional interest grows alongside maturing crypto infrastructure.

Bitcoin and Ethereum's market leadership, coupled with stablecoins' rise, has created fertile ground for Web3 property solutions. The project promises to democratize access to luxury assets while enabling 24/7 trading of fractionalized ownership - a radical departure from traditional real estate's illiquidity.