MTN has revealed that it has purchased land in Africarare, one of Africa’s first virtual reality metaverses, becoming the first African firm to do so.
Africarare is the first African Virtual Reality metaverse with digital land, which debuted in South Africa in October 2021. Due to this purchase, MTN will now hold 144 virtual land plots with a total area of 12x12m.
“This is an exciting time for us as we guide businesses throughout the continent into the metaverse marketplace.” The above mentioned is the foundation of our Ambition 2025 strategy: harnessing trends that enhance consumers’ digital experiences and engagement. MTN’s Group Executive for Marketing, Bernice Samuels, says, “that the telecommunication operator has always been at the forefront of technological and digital advances, and remains aware of the exciting prospects the metaverse holds for them and their clients.”
According to a statement from the Group, MTN is the first company on the continent to endorse such an endeavour.
MTN seeks to boost its customer attractiveness through a series of experiences blended with consumer passion points, such as gaming and music, through its presence in the Metaverse.
The Metaverse is both a technology and a concept or notion; in general, it is a virtual reality technology that allows users to enter a persistent virtual world that continues to function even when the user is not in it. The Metaverse also includes alternate reality technology embedded into the physical world.
It also translates to a “digital economy,” according to BMA Sources, where users can create, buy, and sell items. For example, MTN has purchased digital “land,” but other items such as cars and clothing can also be purchased through certain companies on the Metaverse.
While permanent virtual worlds such as World of Warcraft’s always-online virtual gaming world can be considered’ metaversal,’ the Metaverse appears to be aimed more towards the corporate realm, at least according to Meta, formerly Facebook, the loudest name in Metaverses at the moment.