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MTN becomes the first African company to own land on the continent’s metaverse

The South African mobile telecommunications company now owns 144 plots of virtual land with an overall area of 12x12 square metres. Picture: Kim Ludbrook

The South African mobile telecommunications company now owns 144 plots of virtual land with an overall area of 12x12 square metres. Picture: Kim Ludbrook

Published Mar 4, 2022

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THE MTN Group yesterday became the first African company to enter the metaverse by purchasing land in Africarare, the continent’s 3D virtual reality platform.

The South African mobile telecommunications company now owns 144 plots of virtual land with an overall area of 12x12 metres.

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MTN Group’s executive for marketing, Bernice Samuels, said this was an exciting moment for the company which is the lead business on the continent to enter the metaverse marketplace.

Samuels said this was exactly what MTN’s Ambition 2025 strategy was 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,” said Samuels.

MTN said 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, the company said it intended to increase its customer attractiveness via a series of experiences merged with consumer passion points, like gaming and music.

MTN’s Ambition 2025 strategy is to lead digital solutions for Africa’s progress in driving accelerated growth for the company.

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Its strategic priorities are to build the largest and most valuable platforms, drive industry-leading connectivity operations, create shared value, and accelerate portfolio transformation.

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