Africa’s Metaverse Ubuntuland is preparing to launch its First virtual token

Africa’s inaugural metaverse, Africarare’s Ubuntuland, is gearing up for the debut of its first virtual token — the $Ubuntu Token.

Ubuntuland provides users with a platform for creating, engaging with, and monetizing a variety content and applications. These range from art exhibitions to concerts to business meetings to social experiences.

The $Ubuntu Token has multiple uses within Ubuntuland Metaverse. It’ll act as the primary medium of exchange, facilitating transactions for land purchases, social experiences, applications, games, and retail stores within Ubuntuland. 

Additionally, 1% from the 5% transaction fees on every Ubuntu token transaction goes to philanthropic causes like providing clean drinking-water and tertiary education in Africa.

The company is currently accepting registrations to the allowlist even though the token is scheduled to launch officially on Feb. 29, 2024. Twitter – X

Africarare was launched in 2021 and uses AI and mixed realities to facilitate connections and collaboration. It also promotes ecommerce and growth on the African market.

In 2022, blockchain funding on the continent increased by 1,668%. reportedPWC and Emurgo Africa. Notably, Kenya, NigeriaSouth Africa is at the forefront of Web3 adoption in Africa.

The continued adoption of Web3 in Africa and cryptocurrencies holds promise for financial integration, especially considering that over 40% of the population still does not have bank accountsCash is the basis of approximately 90% of all financial transactions.