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South African Financial Services Giant Nedbank Secures a ‘Village’ in the Metaverse

South African Financial Services Giant Nedbank Secures a ‘Village’ in the Metaverse

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South African financial services giant Nedbank is said to have bought the village into the metaverse. The village will be used to showcase African creativity and create experiences that go beyond ‘banking’. By securing virtual assets in Ubuntuland, Nedbank became one of the first financial institutions in Africa to embrace the metaverse.

A showcase of African creativity

South African financial services group Nedbank recently acquired a “village” in the Ubuntuland metaverse, said to be 12 x 12. By securing the village, which will be used to showcase African creativity, Nedbank is said to have been one of the first financial institutions on the African continent to embrace the metaverse.

According to a Bloomberg report, the financial services group has partnered with Africarare, creators of Ubuntuland. Commenting on Nedbank’s move into the metaverse, the finance giant’s head of marketing and corporate affairs Khensani Nobanda said his organization decided to secure a space in the virtual world because it wants to create experiences for its customers that “go beyond banking”. Nobanda added:

Our entry into the metaverse isn’t just about being present in this space, it’s about meeting our customers’ needs with platforms that resonate with them.

Nedbank’s Metaverse Village

According to a Bloomberg report, Nedbank’s metaversal village offers experiences from virtual gaming to a sports lounge. Meanwhile, the report revealed that with the acquisition of the virtual space, Nedbank has followed in the footsteps of South African mobile network operator MTN.

As Bitcoin.com News reported earlier in March, MTN became one of the first South African companies to enter the metaverse when it purchased 144 plots of land in Ubuntuland. At the time, the mobile network operator said the virtual land acquisition would help it “strengthen” consumers’ digital experiences.

In addition to MTN, World Data Lab and M&C Saatchi Abel have also been identified as two other companies adopting the pre-Nedbank meta-network.

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