The duo says that as the digital economic voyage into the metaverse starts to accelerate, major players in trade and industry are poised to develop custom experiences in this digitally enhanced world, which is being heralded as the future of e-commerce.

The Nedbank village has a focus on customer value and services and aims to contain numerous experiences ranging from virtual gaming to a sports lounge.

The step into the Metaverse forms part of the financial services group's strategy to:
  • lead in digital
  • go beyond banking
  • discover new marketing platforms
  • leverage new technology to better serve its customers, and
  • stay at the forefront through forward-thinking solutions.

Nedbank says that it joins global players such as DBS Bank, HSBC, JP Morgan and Fidelity Investment who have partnered with metaverses globally.

According to Nedbank, Africarare — Africa's first metaverse — is highly sought-after by companies and individuals wishing to capitalise on the multiple opportunities presented by the metaverse. The early settlers in Ubuntuland include:
  • MTN
  • World Data Lab, and
  • M&C Saatchi Abel.

"Creating experiences that go beyond banking has always been a focus for Nedbank. 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," says Khensani Nobanda, group executive for marketing and corporate affairs at Nedbank Group.

"[This is] while offering an array of touchpoints that continue to demonstrate our commitment to lead in digital," adds Nobanda.

Fred Swanepoel, Nedbank's chief information officer, says, "As Nedbank, we want to remain at the forefront of the technologies that will enable the next wave of digital business models, so we're investing in web 3.0 and the newer open source technologies on which the Metaverse is built."

"It's important for us as Nedbank to continue leading and advancing our digitisation journeys which have already yielded excellent results for the group, and enable Nedbank to engage in the future digital marketplaces, where we believe we will need to meet and serve our clients," adds Swanepoel.

"We are thrilled to welcome Nedbank into Ubuntuland and look forward to creating positive change with them," says Mic Mann, co-founder and CEO of Africarare.

Mann concludes, "By entering the metaverse, this organisation will pave the way for new solutions for Africa and play a role in the future of banking in this exciting world."

According to Africarare, it was established to unlock African potential and connect Africa to the global digital economy.

For more information, visit www.africarare.io. You can also follow Africarare on Twitter or on Instagram.