MTN Buys Land in The Metaverse

MTN did not just rebrand its logo yesterday, it also translates to a “digital economy,” where users can create, buy and sell good, but has venture into the Metaverse, buying 144 plots of digital land.

MTN has bought 144 plots of digital land in the Africarare metaverse Ubuntuland for an undisclosed sum.

With the purchase, MTN laid claim to becoming the first African company to enter the metaverse.

Earlier in October 2021, Africare debuts it non-fungible token (NFT) art collection which sold out in two weeks according to report.

According to MTN, the 144 plots in Ubuntuland have an area of 12×12 metres

“This is an exciting moment for us as we lead businesses on the continent to enter the metaverse marketplace,” said MTN group executive for marketing Bernice Samuels.

“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.”

MTN said this investment demonstrates its commitment to supporting African innovation.

What is the Metaverse?

The Metaverse is likewise a technology and a concept or idea – broadly speaking it is a form of virtual reality tech that allows users to enter a persistent virtual world, a world that runs even when the user isn’t within it. The Metaverse also includes alternate reality technology that is integrated into the physical world.

Through its presence in the metaverse, MTN said it intends to increase its customer attractiveness through a series of experiences merged with consumer passion points, like gaming and music.

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