MTN Group Champions Africa’s First Metaverse Investment
A Y’ello Metaverse
Mobile Telephone Network (MTN) is a multinational mobile telecommunications company based in South Africa, operating mainly in African countries, including Nigeria, with headquarters in Johannesburg. Active in over twenty countries and with a customer base of over 280 million users, it is among the top ten mobile network operators in the world. But now, they are looking to expand even further as they enter into the Metaverse, becoming the first African organization to do so.
The company’s Group Executive for Marketing, Bernice Samuels, “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 consumer’s digital experiences and engagement.”Ambition 2025. What are we doing today? MTN recently unveiled its new corporate digital identity, which is aimed at exploiting the opportunities the virtual world presents for them and their customers. This led to their involvement in the Metaverse. So, on the 28th February 2022, MTN bought 144 plots of digital land in the Africarare Metaverse Ubuntuland. There is now a yellow portion of the Metaverse, and it's right here in Africa.
Create, Socialize and Play—all in Virtual Africa.
Africarare is a virtual reality experience set in Ubuntuland and will be open to public land sales later this year.
Africarare is the first South African Virtual Reality Metaverse featuring digital land with roots in the African continent.
It was officially launched in October 2021 to bring African arts and creativity to the Metaverse, connecting Africa to the global digital economy. The launch featured the works of South African contemporary artist Norman Catherine as non-fungible tokens (NFTs) in the Milla Gallery located in Ubuntuland. The NFTs sold out a few moments after the launch, fetching a whopping sum of $53,000.
Living In Africa, Living in Ubuntu.
Ubuntu. "I am because you are."
Now you can enter Africarare as a virtual NFT avatar at the welcome area of the central village, have your land, and start developing your own unique persona.
You can also purchase unique items for your avatar in the marketplace. The digital firm said there would only be 204 642 plots available for trading on this Virtual platform.
It would be made up of various villages of different sizes in community hubs.
Landowners will be able to design their 3-D land spaces, such as developing shopping spaces resources, renting out virtual services, and developing games or other applications.
They said in their statement that designated spaces would serve the community for work, play, and wellness purposes, including state-of-the-art meeting rooms, online therapy rooms, stages for concerts and shows, film festivals, meditation lounges, and other dynamic interactive environments.
MTN Group purchased 144 parcels with an overall area of 12×12m. The purchase was made at an undisclosed sum.