MTN Becomes The First African Company To Invest In The Metaverse

MTN has become the first African company to enter the metaverse by purchasing land in Africarare.

MTN made this known in a statement on its website titled, ‘MTN Group becomes the first African company to enter the metaverse with land ownership on Africarare’.
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“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,” part of the statement read.

MTN’s Group Executive for Marketing, Bernice Samuels, said, “This is an exciting moment for us as we lead businesses on the continent to enter the metaverse marketplace. This is exactly what our Ambition 2025 strategy is premised on – leveraging trends that amplify consumer’s digital experiences and engagement.
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“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’’.

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Photo Credit: Getty