MTN Group Becomes First African Country to Invest in Metaverse, Buys 144 Plots of Digital Land

• Africa’s largest telecommunication company, MTN Group has bought 144 plots of digital land in the metaverse

• The plots of land were bought in the Africarare metaverse, Ubuntuland for an undisclosed fee

• With this acquisition, MTN becomes the first African company to invest in the metaverse

Africa’s biggest telecom company MTN Group has announced that it has bought a digital land in the metaverse, becoming the first African country to do so.

According to a press release by the company on Monday, 144 plots of virtual land with an area of 12x12m were bought from South African-owned metaverse company, Africarare.

The press release however failed to disclose the amount that the company pay to acquire the metaverse.

Africarare is a metaverse real estate company that launched in October last year when it was the first African VR metaverse to launch. The platform uses the UBU token, as its native token and UBU can be used to complete transactions in the metaverse.

Read also: South Korea Set to Make Whopping $187 Million Metaverse Investment

A portion of MTN’s statement announcing the digital land acquisition reads:

“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.”

The latest digital world investment comes less than a month after MTN Group announced its commitment to building a brand in the tech space.

Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news.