MTN has become the first African company to enter the metaverse by purchasing virtual land in Africarare. MTN made this known in a statement released on its website titled, ‘MTN Group becomes the first African company to enter the metaverse with land ownership on Africarare’.
The statement reads in part, “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.
“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”.
Metaverse is a virtual reality world where users can interact, play games, and have experiences as they would in the real world.
Some companies are allowing individuals to create and have their own avatars that can apply for jobs and build careers in the metaverse while earning money for their owners in the real world.
Many more companies are now including some form of cryptocurrency investments as part of their company’s portfolio. Big companies like JPMorgan, Visa, Adidas, Samsung, amongst others, have also announced the purchase of digital lands.