MTN purchases 144 plots of digital land for undisclosed fee, becomes first African telco to enter the Metaverse

MTN Group, Africa’s largest telecommunications company, has announced the acquisition of 144 digital land plots in the Africarare metaverse Ubuntuland for an undisclosed sum.

MTN Group has made history as the first African telecommunication company to enter the Metaverse with this purchase.

Africarare is a pioneering South African Metaverse that houses digital land with African roots. Last year, it sold out of its first Non-fungible token (NFT) art collection for around $50,000.

Africarare and Mann Made Media are working on Ubuntuland, which will be available for public land sales later this year. Ubuntuland will include the finest of African art, fashion, entertainment, sport, technology, and innovation, as well as provide a platform for artists from all across the continent to exhibit their work.

“We have seen an immense amount of growth in the NFT space marketplace and Metaverses across the US, Europe, Asia, there hasn’t been much coming out of Africa. We feel there’s a great opportunity for Africa to take part in this new world.” Mic Mann, co-founder of Africarare said in an interview last year.

This move follows MTN’s recent brand revamp, which repositioned the African telecommunication giant as a technology firm rather than just a telecommunication one. MTN noted in a statement that “this investment reflects MTN’s commitment to fostering African innovation.”

“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,” Bernice Samuels, chief marketing officer at MTN group said.

Alongside MTN, South African advertising agency M&C Saatchi Abel also purchased its plot of land in the newly created Ubuntuland. Outside Africa, companies like Samsung, Adida, and PricewaterhouseCoopers have hopped on the trend too, buying plots of digital land.