Africa’s pioneer metaverse, Africarare is getting ready to launch the $Ubuntu Token, a virtual token that will act as a medium of exchange for both customers and merchants in the virtual marketplace.
Developed by the innovation business Mann Made, situated in Johannesburg, Africarare is an immersive 3D virtual reality hotspot.
The Web3 platform, driven by artificial intelligence (AI), facilitates communication, cooperation, and e-commerce services between people, brands, and communities.
The metaverse, sometimes referred to as the next evolution of social connection, is a vast virtual environment where individuals communicate using virtual avatars.
The 3D virtual reality experience offered by Africarare takes place in Ubuntuland, an African virtual environment that combines creativity, cryptocurrency, and business.
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Hundreds of private and corporate landowners have purchased virtual land in the metaverse with the goal of reselling goods and services on the immersive platform known as Ubuntuland.
Corporates include companies with over 90,000 registered users and members of social media communities, including Nedbank, Primedia, Singularity Group, HAQQ Network, Mann Made, and Cyberkongz. These brands have each seen over 20,000 hours of user involvement.
On February 29th, Africarare’s $Ubuntu Token will formally launch.
It is said that the $UbuntuToken is the vitality of Ubuntuland. According to Mann Made, it will make buying, selling, and trading easier within the marketplace and be essential to the management of the metaverse’s operations.
According to Mic Mann, CEO of Africarare, the token will make it possible for users to engage in a variety of interactive events, opening up new avenues for enjoyment, learning, and artistic expression.
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“$Ubuntu Token is a dedication to improving communities; it is more than just a utility token.
“Every transaction made with the $Ubuntu Token aims to improve community welfare by bringing about change. A portion of every transaction fee—ten percent—is allocated to our charitable fund, which supports initiatives like Drops of Life and Innovation, which supplies safe drinking water, as well as educational initiatives like the Maharishi Institute, which gives African students access to postsecondary business education. The Ubuntu Decentralised Autonomous Organisation will cast votes on upcoming ideas.
The global metaverse market is expected to develop at a compound annual growth rate of 39.8%, reaching $996 billion by 2030, according to GlobalData’s 2023 research on the virtual universe.
According to the startup, Ubuntuland has grown steadily since its alpha premiere at the SingularityU South Africa Online Summit in 2021. Organisations and local singers have bought virtual land to highlight African companies and creativity.
In the future, landowners will have the opportunity to develop AI avatars using their own GPTs and deploy them to improve customer experience, first thanks to the planned Africarare AI Builder.