UAE regulated MANTRA and WIN Investments to tokenize sports

UAE regulated MANTRA and WIN Investments to tokenize sports

UAE regulated tokenization platform MANTRA, the Layer 1 blockchain purpose-built for real-world assets (RWAs), has partnered with WIN Investments, a fintech platform pioneering regulated sports digital assets to tokenize sports assets starting with soccer.

WIN has built an ecosystem that opens the door for fans and investors to participate in the global football transfer market.

Through a regulated framework, WIN issues utility tokens and digital securities linked to real-world assets, including professional players and club rights. The flagship product leverages the FIFA Solidarity Mechanism, a system that rewards youth clubs when players they’ve trained are transferred internationally. This recurring income allows soccer clubs to further develop new talent, and enables investors to participate in future player transfer revenues. WIN is backed by Ripio Ventures and the Werthein Group, the principal stakeholder of DirecTV, Latin America’s largest sports broadcasting company.

“Partnering with MANTRA, a global leader in real-world asset tokenization, regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), is a key milestone in our mission to turn the passion of sports into a new compliant class of Real World Sports Assets,” said Gonzalo Busnadiego, Co-CEO of WIN Investments. “This collaboration brings us closer to a future where fans and investors can connect with clubs and athletes in a more direct, transparent, and meaningful way.”

“FIFA’s 2024 Global Transfer Report details the football transfer market represents $66 billion in locked value, with $8.59 billion spent on transfers in 2024 alone. WIN’s Solidarity Mechanism unlocks 5% of this market—$3.3 billion—by offering access to player transfer revenues. WIN has $7.4 million in assets under management (AUM) from 130 player transfers across 16 partnered clubs, including stars like Alexis Mac Allister and Emiliano Martínez, and expects to exceed $20 million in tokenized assets by year-end.”

MANTRA and WIN Investments will establish a framework for the tokenization of WIN’s existing and future sports-related assets. The two companies will develop and launch fan and investor-facing products within the MANTRA ecosystem.

Future initiatives scheduled for Q4 2025 include; WIN leveraging MANTRA as an infrastructure partner to expand the availability of its compliant sports products onchain with a focus upon transfer tokens. Transfer tokens represent a fraction of the future revenue derived from a player’s next transfer and are tied specifically to the FIFA Solidarity Mechanism.

“This partnership with WIN is a natural extension of MANTRA’s RWA vision of bringing the world’s financial ecosystem on-chain by being the preferred ledger of record for real world assets,” said John Patrick Mullin, CEO of MANTRA. “We see huge potential in combining the passion of sports with regulated, tokenized assets, and we believe Latin America is the perfect place to lead that charge.”

Adaverse invests in Saudi sports tech company Grintafy

Adaverse invests in Saudi sports tech company Grintafy

Adaverse, Saudi based ecosystem accelerator and seed fund, has made a strategic investment in Grintafy, the Middle East’s premier football sports tech company to support its transition from a Web2 company to Web3 using blockchain technology.

Grintafy, established in 2019, has rapidly grown to become the go-to platform for amateur footballers, boasting over 2 million users across its ecosystem. The company’s approach to creating digital CVs for players has garnered partnerships with federations, ministries, and both local and international clubs.

Vincent Li, Managing Founder of Adaverse, expressed enthusiasm about the investment: “Grintafy’s vision aligns perfectly with our mission to support transformative Web3 projects. Their established presence in the sports tech industry, combined with their forward-thinking approach to blockchain integration, presents an exciting opportunity for growth and innovation in the Web3 space.”

The investment is set to accelerate Grintafy’s Web3 transition. Adaverse will provide crucial support in product development, particularly in integrating Web3 native features and enhancing user experience. Additionally, the partnership will facilitate connections with global resources, including football clubs and media networks, and assist in future fundraising efforts.

Majdi K. Allulu, founder of Grintafy, commented on the partnership: “Adaverse’s investment and expertise in the Web3 ecosystem will be instrumental in our evolution. We’re excited to explore how blockchain technology can enhance our platform, providing even more value to our users and partners in the football industry.”

This investment follows Grintafy’s previous backing from Chiliz, a major blockchain sports entertainment company, further solidifying its position at the intersection of sports and technology. The company plans to leverage these partnerships to expand its global footprint and introduce innovative features that will redefine talent discovery in football.

This investment follows Grintafy’s previous support from Chiliz in March 2024. Grintafy raised $2.1 million in a bridge round in 2022 from Aramco’s venture capital arm, Wa’ed, along with other investors.

Kucoin sponsors Dubai sports council launch Open Padel Cup

Kucoin sponsors Dubai sports council launch Open Padel Cup

KuCoin, aglobal crypto exchange, has announced it will be Title sponsor for Dubai Sports Council’s Open Padel Cup for Government Institutions. Scheduled from December 13 to 15, the Open Padel Cup Championship invites all government institutions across the UAE to participate. To promote amateur participation, professional players registered with clubs or the UAE Padel Association are not eligible, ensuring over 300 Emirati amateurs can take part in this competition.

Padel has been gaining traction in Dubai as a fun and engaging way to promote a healthy lifestyle and enrich the local sports culture. The Dubai Sports Council has recently spearheaded the Padel Cup Tournament initiative, partnering with KuCoin for the event, which is organized by Royal Griffin Event and hosted at JUST PADEL facilities.

As the title sponsor, KuCoin has expressed strong confidence in the economic prospects of the Middle East, particularly the UAE and Dubai, especially regarding the immense potential of the cryptocurrency market. Over the past few years, KuCoin has established many partnerships in Dubai’s vibrant city and has been actively involved in various local activities. Last year, KuCoin sponsored the COP28 Global Climate Change and Green Blockchain Summit and hosted the “KuCoin Green Future Charity Gala Dinner,” supporting various charitable causes.

At the press conference, Harry Chan, the representative from KuCoin highlighted the synergy between sports and blockchain technology, noting that both fields emphasize collaboration and innovation. Padel is a sport that requires high levels of teamwork and strategic thinking, aligns with the decentralized cooperation and innovative spirit of blockchain technology. “We believe that through activities like the Open Padel Cup for Government Institutions, we can better communicate the core values of blockchain technology to the public and inspire more innovative ideas,” said the KuCoin representative, and “help bring in and connect global responsible companies and talents”. This event marks the latest in a series of collaborations by KuCoin in Dubai, underscoring its long-term commitment to the Dubai market.

Fawzia Faridoun, Director of the Community Sports Department at the Dubai Sports Council expressed pleasure in partnering with KuCoin to promote the city’s sports culture and healthy lifestyle, looking forward to deeper cooperation in the future.

Interestingly Kucoin has yet to have a regulated presence in the UAE, while others such as Binance, Crypto.com and other global crypto exchanges have.