Nedbank Secures Footing in the African Metaverse
The South African financial services giant Nedbank is reported to have acquired a village in the metaverse. The village will be used to showcase African creativity and to create experiences that "go beyond banking." Nedbank became one of the first financial institutions in Africa to enter the metaverse, by securing a virtual property in Ubuntuland.
Showcasing Africa’s Creativity
Nedbank,
the South African financial services group, recently secured a
"village" in the Ubuntuland metaverse, which reportedly measures 12
by 12. The village will be used to showcase African creativity. Nedbank is said
to have become one of the first financial institutions on the African continent
to enter the metaverse.
The
financial services group has partnered with Africarare, the creators of
Ubuntuland, as reported by Bloomberg. Remarking on Nedbank’s entry into the
metaverse, Khensani Nobanda, Marketing and Corporate Affairs, Executive said
that her organization chose to secure space in the virtual world because it
wants to create experiences for its clients that "go beyond banking."
Nobanda added:
"Our
entry into the metaverse is not merely about having a presence in this space,
it’s about meeting the needs of our clients on platforms that resonate with
them."
Nedbank’s Metaverse Village
As
per the Bloomberg report, the metaverse village will offer experiences that
range from virtual gaming to a sports lounge. The report has revealed that,
through its acquisition of the virtual space, Nedbank has followed in the
footsteps of the South African mobile network operator MTN.
MTN
became one of the first South African companies to enter the metaverse after it
purchased 144 plots in Ubuntuland. Then the mobile network operator said
the purchase of the virtual land would help it "amplify" consumers’
digital experiences.
Besides
MTN, World Data Lab and M&C Saatchi Abel are also identified as two other
companies to enter the metaverse ahead of Nedbank.
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