MTN, Africa’s most prominent mobile telecommunications firm, has bought 144 plots of a virtual estate in Africarare, Ubuntuland, becoming the first African corporation to enter the virtual world.
According to TechCabal, a leading tech magazine in Africa, the telecom giant with about 80% of market share in the Nigeria communication business has made a metaverse entry. The push for the metaverse is to rebrand itself while positioning itself as a modernistic tech company with eyes for the future. Also, it is part of the company’s mission of bringing innovation to Africa.
The acquisition is merely a portion of a vast tract of real estate on the metaverse platform, Ubuntuland, created by a Web3 company in South Africa called Mann Made Media (MMM). The company’s whole property is a digital tribute to the scale and resemblance of Africa’s political landscape. Mic Mann, alongside his team of designers, made their initial leap into virtual reality as the earliest native Metaverse initiative from Africa. Africare is preparing to organize a public sale for real estate before the end of 2022.
MMM’s massive stretch of the digital estate, just like many other metaverse ventures, should showcase some of Africa’s finest ideas, spanning all types of sports, entertainment, art, craft, and others. Also, Ubuntuland will provide renowned and emerging African artists with the opportunity to showcase their abilities and establish themselves as a force to reckon with in the digital world.
MTN At The Forefront Of 5G Revolution
MTN has not slowed down since rebranding as a tech firm. In February, it won the formal license bid to create the 5G network in the country. The triumph would solidify its position as a significant competitor in the African market, delivering next-generation fast broadband service to meet the requirements of a rising technologically sophisticated population that relies on a quicker internet connection for regional and international work.
Meta Shows Interest In Africa’s Metaverse
Organizations with a strong foothold on Africa, such as Meta, are taking the continent’s involvement in the metaverse very seriously. “The Virtual world can revolutionize significant economic prospects for Africa, but the connection is required,” said Deyra Matras, the Vice President of Meta in Arica. The platform founded by Mark Zuckerberg has already begun construction of the most extended underwater cable globally, which will connect Europe, Africa, and Asia.
Other leading communication and financial corporations that have confirmed their participation in the virtual world include Apple, JPMorgan, Nvidia, Microsoft, Roblox, and Samsung. Most of them have already invested millions of dollars in the metaverse. The goal is to build structures and technological tools to grant individuals access to the metaverse.
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