MTN, first African brand to enter Metaverse
By Ibidunni Banjoko
Following the new iteration, MTN Group, one of the leading telecommunication companies has become the first African brand to join the Metaverse train by purchasing 144 plots of digital land in Africarare.
Bernice Samuels, MTN’s Group Executive for Marketing who disclosed this on the company’s website, said: “This is an exciting moment for us as we lead businesses on the continent to enter the Metaverse marketplace. This is exactly what our Ambition 2025 strategy is premised on – leveraging trends that amplify consumers’ digital experiences and engagement.”
He further said: “We have always been at the forefront of technological and digital changes and we remain alive to the exciting opportunities the Metaverse presents for us and our customers.”
This investment demonstrates MTN’s commitment to supporting African innovation as it is the first company on the continent to support an initiative of this kind. Through its presence in the Metaverse, MTN intends to increase its customer attractiveness through a series of experiences merged with consumer passion points, like gaming and music.
Africarare made its debut in South Africa in October 2021, as the first African Virtual Reality Metaverse featuring digital land. This purchase will see MTN owning 144 plots of virtual land with an overall area of 12x12m.
The Ubuntuland is being developed alongside Mann Made Media, which is expected to do public land sales later this year.
According to Africarare, Ubuntuland intends to showcase some of the best of African art, fashion, entertainment, sport, technology and creativity and will provide a platform for artists from across the continent to showcase their work.
Africarare is the first also South African and African Metaverse, whose digital land gets its baseline synopsis from the African continent. Last year, the platform sold out its debut Non-fungible token (NFT) art collection last year for about $50,000.
Mic Mann, co-founder of Africarare, stated: “We’ve seen an immense amount of growth in the NFT space marketplace and Metaverses across the US, Europe, Asia, there hasn’t been much coming out of Africa. We feel there’s a great opportunity for Africa to take part in this new world.”
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