Inveniam to Acquire Mantra Following OM Token Collapse
- Inveniam Capital Partners plans to acquire layer-1 blockchain Mantra and its affiliates, enhancing its focus on tokenized real-world assets (RWAs).
- This follows a $20 million strategic investment by Inveniam in Mantra made in August.
- On May 13, Inveniam launched NVNM Chain, a layer-2 blockchain on Mantra for asset verification.
- Mantra faced significant challenges, including a collapse of the OM token that resulted in a market cap loss of over $5 billion on April 13.
- CEO John Patrick Mullin attributed the token’s decline to forced closures by centralized exchanges.
The acquisition aims to bolster Inveniam’s presence in digital private markets and integrate regulated blockchain infrastructure with AI-ready data. This move is seen as crucial for delivering efficient digital private market solutions.
Inveniam’s acquisition comes after a turbulent year for Mantra, particularly following the OM token’s dramatic decline of over $5 billion in market capitalization. (Source)
