South Africa’s MTN Group Buys Land in the Metaverse

South African mobile telecom firm MTN Group Limited announced on Monday that it will be the first company to join the metaverse league by acquiring land in Africarare, unleashing African innovation, and connecting the continent to the global digital economy.

In October 2021, Africarare marked its presence in South Africa as the continent’s first Virtual Reality (VR) metaverse, marking its ownership of digital land. The acquisition will give MTN 144 plots of virtual property, covering a 12×12 area in the digital world.

“This is an exciting moment for us as we lead businesses on the continent to enter the metaverse marketplace,” said MTN’s Group Executive for Marketing, Bernice Samuels.

“This is exactly what our Ambition 2025 strategy is premised on – leveraging trends that amplify consumers’ 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,” he added.

The South African company’s latest investment showcases its utmost commitment to heighten Africa’s creativity in support of empowering innovations in the continent. By marking its presence in the virtual universe, MTN will be heightening its customer base’s appeal through a wave of newly emerged experiences to accommodate its users’ need in different fields, such as gaming and music.