MTN Group has announced that it has purchased 144 plots of digital land in the ‘Africarare’ virtual reality metaverse in South Africa.
MTN is the first African corporation to buy space on Africarare, according to the company.
The announcement states, “Africarare, which debuted in South Africa in October 2021, is the first African Virtual Reality metaverse involving digital land.”
“MTN will now hold 144 plots of virtual land with a total area of 12x12m as a result of this purchase.”
“This is an exciting moment for us as we lead businesses on the continent into the metaverse marketplace,” Bernice Samuels, MTN’s group executive for marketing, said of the development.
“Leveraging trends that increase consumers’ digital experiences and engagement is exactly what our Ambition 2025 plan is based on.”
“We’ve always been on the cutting edge of technological and digital advancements, and we’re excited about the possibilities the metaverse offers us and our clients.”
The company did not, however, reveal the sum at which the land was purchased.
MTN stated that its presence in the metaverse will allow it to improve customer appeal by combining a number of experiences with consumer passion areas such as gaming and music.
This move follows MTN’s recent brand revamp, which repositioned the company as a technology firm rather than a telecommunications one.
MTN noted in a statement that “this investment reflects MTN’s commitment to fostering African innovation.”
Read more on Tech Gist Africa:
MTN Rebrands as a Tech Company and Debuts a New Logo
JPMorgan becomes the world’s first bank to enter the metaverse