The firm launches digital housing, land in Africa
A digital technology company, Africarareannounced plans to commercialize a virtual land (Ubuntuland) that marries creativity, cryptocurrency, and commerce in its metaverse.
The company, in a press release on Tuesday, said interested parties can buy, sell, and rent property and other digital assets in Ubuntuland.
“First, virtual land will soon be available for purchase and development, with MTN, Africa’s largest multinational mobile telecommunications company joining Africarare with an upcoming secure 12×12 village (144 real estate plots) in Ubuntuland,” says the press release.
He said Africa’s first metaverse is meant to unleash African creativity and connect Africa to the global digital economy.
Founded in October 2021, Africarare, headquartered in South Africa, is the first South African metaverse to launch digital housing lands with roots in the African continent.
According to the release, the digital company said there would only ever be 204,642 plots of land available for trading in this space, and it would be made up of different sizes of villages in various community hubs.
“Land is positioned and priced according to a tiered value system,” he said.
According to the statement, landowners will be able to customize their 3D land spaces, such as hosting stores, producing resources, renting virtual services, and developing games or other applications.
He said the designated spaces will serve the community for work, play and wellness purposes, including state-of-the-art meeting rooms, online therapy rooms (with optional anonymity), concert stages, film festival spaces, meditation lounges and other dynamic interactive environments. .
Additionally, the company said renowned South African artist Norman Catherine has developed a unique collection of avatars for the Metaverse, which will soon be available for purchase.
He said Normunda Tribe is based on the artist’s signature lexicon which has achieved record prices in galleries around the world.
An avatar is a 3D graphical representation of a user or the user’s character or personality in space.
The company said Ubuntuland’s currency will be the $UBUNTU token, which is built on the Ethereum blockchain and will be available later this year.
“Everything in Africarare can be bought, sold, or traded using $UBUNTU tokens, including buying, developing, selling, or renting plots or villages in Ubuntuland, and in-world purchases of goods and digital services,” the statement read.
He said the token’s valuation will be calculated based on what users invest, build, play, and trade inside the metaverse.
The statement explained that two art galleries will feature in Africarare and will be dedicated to showcasing Africa’s prolific creativity.
He noted that the Mila (Swahili for “tradition”) gallery, which has already opened, will host curated collections by some of Africa’s top artists, while the Inuka (Swahili for “rise”) gallery will feature works by emerging African artists later this year.
“Both galleries will hold various exhibitions on an ongoing basis with artworks being sold as NFTs (non-fungible tokens),” the statement read.
On the Africarare marketplace, creators and developers can trade in-world assets such as land, avatars, avatar add-ons, and other goods and services that are and will be available in Ubuntuland, the company said.
He said the marketplace will focus on four main areas: Art, Ubuntuland, Avatars & Skins, and Digital Services, adding that users will also be able to trade on secondary platforms such as Opensea and others.
He explained that the Central Hub land area is reserved for Africarare’s bespoke experiences, ranging from art to education, including experiences like galleries, live shows, stand-up comedy, TV channels video content, film festivals, safaris and more.
Mic Mann, co-founder and CEO of Africarare, is quoted as saying “Africarare will connect Africa to this booming arena of the global economy, drive growth and create multiple new jobs such as designers, creators and digital architects “.
Similarly, Shayne Mann, co-founder of Africarare, said the space will allow South African artists to showcase their talent to the world and monetize their distinctive creations.
“With Africarare being built on collaborative partnerships, the possibilities for commercialization are endless,” the official said.
Bernice Samuels, Director of MTN Group, said this is an exciting time for the company as it leads businesses across the continent to enter the metaverse market.
“This is exactly what our Ambition 2025 strategy is about – leveraging trends that amplify digital consumer experiences and engagement,” he said.
Support the integrity and credibility journalism of PREMIUM TIMES
Good journalism is very expensive. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government.
For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.
Make a donation
ANNOUNCEMENT TEXT: To advertise here . Call Willie on +2347088095401…