MTN Group, the parent company of MTN Nigeria, has acquired a virtual land in Africarare, a metaverse as it looks to create a new market for music and game lovers.
The mobile telecoms giant disclosed this in a statement on Monday.
MTN now owns 144 plots of virtual land measured at 12x12m.
The statement read: “This investment demonstrates MTN’s commitment to supporting African innovation.”
MTN Group Executive, Marketing, Bernice Samuels, who spoke on the development, said: “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,”
“This is exactly what our Ambition 2025 strategy is premised on – leveraging trends that amplify consumer’s 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.’’
Africarare is a 3D virtual reality experience launched in October 2021.
The platform uses a Non-fungible token, UBU and will be open for public land sales later this year.