MANTRA and Pyse team up to revolutionize transportation in Dubai
The collaboration promises to transform last-mile delivery while boosting environmental sustainability.
MANTRA excitedly announced a strategic partnership with Pyse, a sustainability-focused real-asset (RWA) platform. The goal is to fund the implementation of electric motorcycles in logistics and delivery services in the United Arab Emirates. This collaboration will kick off with the first deliveries of striking pink electric vehicles in Dubai, starting this December.
Mantra (OM) has achieved an impressive 166% increase in a week, standing out in the competitive cryptocurrency market / TradingView
Innovation in last-mile delivery
Earlier this year, MANTRA selected Pyse as a key member of MANTRA’s incubation program, reaffirming its commitment to fostering innovative solutions in the green technology sector. Pyse aims to tokenize over 10,000 electric motorcycles on the MANTRA chain by the end of 2025, revolutionizing last-mile delivery and contributing to environmental sustainability.
“Dubai’s food delivery and logistics sector is on the cusp of an electric revolution,” said Kaustubh Padakannaya, Co-Founder of Pyse. “Our partnership with MANTRA allows us to tokenize the leasing of electric motorcycles, making them accessible to the retail public. This initiative celebrates Dubai’s sustainability goals while providing affordable mobility for all two-wheeled heroes.”
Beyond the traditional model
Pyse is not limited to traditional models, but allows individuals to offset their carbon footprint. In addition to earning returns by directly investing in green assets such as electric mobility and renewable energy. MANTRA’s pink motorcycle was revealed in October during Binance Blockchain Week in Dubai, marking the start of this exciting initiative.
Progress Towards Sustainability
John Patrick Mullin, CEO and Co-Founder of MANTRA, commented on the partnership: “As demand for eco-friendly delivery solutions increases in the region, this collaboration positions MANTRA Chain and Pyse at the forefront of deploying quality, purpose-driven real assets. The implementation of these pink electric motorcycles represents a significant step towards achieving Dubai’s ambitious sustainability goals.”
MANTRA’s incubation program was launched in June 2024, with Pyse participating in the first cohort alongside other projects in the real estate and financial sectors. The incubated projects received support and mentorship to develop robust decentralized applications on top of MANTRA’s infrastructure.
Mantra (OM) gains 166%
Mantra (OM) has seen a notable surge in recent days, standing out in an environment where low-priced alternative cryptocurrencies are gaining popularity. At the time of this report, OM was pulling back after a strong bullish rally, trading at $3.82. Over the past week, the cryptocurrency has achieved an impressive 166% gain, having maintained a moderate uptrend since its launch earlier this year.
This rally is accompanied by a trading volume that exceeds the 25-day average by more than 300%, indicating a growing interest from investors. Furthermore, Mantra has surprised the market with an astonishing 16,714% gain over the past 12 months, consolidating itself as one of the most prominent cryptocurrencies of the year.
Meanwhile, Bitcoin has stabilized around $90,000, allowing other cryptocurrencies, such as Mantra, to take advantage of the opportunity to attract investors' attention. This rally phenomenon in lower-priced cryptocurrencies is indicative of the current market dynamics, where investors are looking for alternatives with high growth potential.
Features of Mantra (OM)
Mantra is presented as a security-focused layer-1 blockchain, designed to meet real-world regulatory requirements. Using the Cosmos SDK, Mantra is IBC-compliant and supports CosmWasm, allowing the creation and management of real-world assets (RWAs) in a regulated manner. With a scalability capacity of up to 10,000 transactions per second (TPS), Mantra is built for institutions and developers, offering an enhanced user experience to facilitate Web3 adoption.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are advised to consult with professionals before making investment decisions.