The African crypto landscape is rapidly expanding, and the latest development saw the region’s first-ever metaverse, Africarare take off. Africarare opened up to the world at a recent event in Johannesburg, where the project declared plans for commercialization of the 3D virtual reality experience, that is set in Ubuntuland, a virtual world that marries creativity, cryptocurrency, and commerce.
Following this, now the virtual land is also available for purchase and development either through private sales or public NFT marketplaces. Furthermore, Africa’s largest multinational mobile telecommunications, MTN already secured a 12×12 village, i.e., 144 plots of virtual real estate. Alongside MTN, the Austria-based World Data Lab (WDL) also acquired a 6×6 village in Ubuntuland.
Limited Land In Africa’s First Metaverse
Companies are seeking a first-mover advantage in Africa’s first metaverse given there will only ever be 204642 plots of land available in Ubuntuland. Additionally, the virtual land is “positioned and priced according to a tiered value system, and made available for purchase, in limited batches”. According to the press release, “landholders will be able to customize their 3-D land spaces, such as by hosting shops, producing resources, renting virtual services or developing games or other applications”.
Meanwhile, these designated spaces will serve the community for work, play, and social experiences, including access to meeting rooms, online therapy rooms, concert stages, film festival spaces, and learning centers. Furthermore, Africarare also plans on incorporating decentralized services such as staking, DAO (decentralized autonomous organization), and blockchain play-to-earn gaming.
“Africarare is focused on building and uplifting Africa,” said Mic Mann, Co-founder, and CEO of Africarare. He added that their “metaverse will connect Africa to this booming arena of the global economy, stimulate growth and create multiple new jobs such as digital designers, creators, and architects”.