Mann Made, a technology and innovation company, introduced Africarare, the premier African metaverse, in 2021. This virtual realm hosts diverse lands and spearheads Ubuntuland, an AI-driven web3 platform providing virtual and augmented reality experiences, collaboration tools, connectivity, and e-commerce services.
A standout feature of Africarare is the Ubuntuland meeting room, where teams can subscribe and reserve virtual meeting spaces for a fee.
Its native token, $UBUNTU, operates on the Polygon chain with a total supply of 1,000,000,000. Allocation plans designate 2.5% to the Treasury, 2% to Staking Rewards, and 0.5% to the Charities Treasury.
When users purchase $UBUNTU on Africarare, 1% of the 5% transaction fee contributes to the platform’s objectives. Moreover, 10% of all transaction fees are earmarked for the charity treasury, funding initiatives like clean water access and educational support in Africa.
$UBUNTU enables users to engage in various interactive activities, accessing entertainment, education, and artistic experiences within Ubuntuland.
The metaverse boasts over 100 private and corporate landowners, including MTN, Nedbank, M&C Saatchi Group South Africa, Primedia, and Singularity Group.
In 2022, MTN acquired 144 virtual plots in Ubuntuland, marking the telco as the first African business to join the metaverse.
In September of the same year, Nedbank, a South African bank, acquired a 12×12 village in Ubuntuland, becoming the first African financial services firm to enter the metaverse.
To drive adoption in Africa, the company offers a free course on developing solutions on the open-source Ubuntuland platform, which provides developers with ample opportunities.
South Africa plays a pivotal role in Africa’s burgeoning metaverse market. A 2022 survey predicts that the virtual economy could boost Africa‘s GDP by $40 billion.
Source: Techpoint