MTN Group, Africa’s largest mobile network operator, has become the first corporation on the continent to own plots of digital land on the metaverse, a virtual reality world.
The leading telco said on its website that 144 plots of digital land have been purchased in Africarare, Africa’s first virtual reality metaverse, which launched in South Africa last year. The amount spent on this was not disclosed by the corporation.
The decision, according to MTN Group Chief Marketing Officer Bernice Samuels, is in line with the company’s 2025 vision, which includes utilizing trends to enhance and expand its customers’ digital experiences while achieving overall business development.
“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. 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,”
MTN Group has stated that its presence in the metaverse demonstrates its commitment to African innovation and that it will use it to increase its value by providing the customer with “a variety of experiences merged with consumer passion points like gaming and music.”
The Africarare metaverse is the most recent breakthrough to hit the IT scene. “A digital environment that mixes components of social networking, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to connect digitally,” according to Investopedia.