MTN Becomes The First African Company To Enter The Metaverse With Land Ownership
MTN Becomes The First African Company To Enter The Metaverse With Land Ownership. South African telecommunications giant MTN has announced that it has acquired land on the metaverse on Africarare. By doing this the company has become the first African company to invest in land ownership on the metaverse.
Africarare which made its debut in South Africa in October 2021, is 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.
Bernice Samuels, MTN’s Group Executive for Marketing said in a statement, “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. 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.
MTN is a company that recently changed its branding and its focus as it said it is no longer just a telecommunications company but it is an overall technology company. This means that the company is planning on exploring other technological ventures, in this instance they are entering into the metaverse, which is a is a virtual reality world where users can interact, game and experience things as they would in the real world. Using current AR and VR tech, they can immerse into this world and interact with overlaying objects and people in the visual projected in front of them. This will give MTN a chance to be at the forefront of innovating how African people experience the metaverse.
