Africarare is set to launch its virtual currency, the Ubuntu Token. The token is aimed at becoming a means of payment in the virtual marketplace of the metaverse.
It would provide e-commerce and charitable support, with 10% of sales going towards supporting African communities. Africarare is a hub for 3D virtual reality, and it runs on the web3 platform powered by artificial intelligence (AI). Africarare was developed by Mann Made, a Johannesburg-based firm. This metaverse makes it easier for people, communities, and brands to collaborate, connect, and engage in e-commerce.
Africa’s first metaverse launches $UBUNTU token https://t.co/iOEG0LsUN6
— Jean-Francis AHANDA (@jeanfrancis) February 5, 2024
Launching Ubuntu token
On Feb. 29, Africarare’s Ubuntu Token will formally launch. Ubuntu Token is described as the vitality of Ubuntuland. According to Mann Made, it will make buying, selling, and trading easier within the marketplace and be essential to the management of the metaverse’s operations.
Mic Mann, CEO of Africarare, explains that users of the token will be able to access domains of art, education, and entertainment by engaging in a variety of interactive activities.
He continued by saying that “$Ubuntu Token is more than a utility token; it’s a commitment to uplifting communities.” Every transaction with the $Ubuntu Token contributes to change, seeking to promote the welfare of communities. Ten percent of all transaction fees go directly to our charity treasury, with projects like Drops of Life and Innovation, providing clean drinking water, as well as educational endeavors at the Maharishi Institute, offering tertiary business education to African students. Future initiatives will be voted on by the Ubuntu Decentralized Autonomous Organization.”
Africarare aims to promote adoption in Africa as the metaverse develops. This would utilize educational programs and the distribution of educational information, making a substantial contribution to the virtual economy of the continent.
Unveiling Africarare
Mann Made launched Africarare in 2021. Fundamentally, Africarare hosts virtual worlds and is the creator of Ubuntuland, a web3 platform driven by AI that offers immersive virtual and augmented reality experiences, along with collaboration, connectivity, and e-commerce services.
New post: Nedbank collaborates with Africarare to launch banking services in the metaverse https://t.co/6KoZpA2vlh
— Technext (@technextdotng) September 22, 2022
Significantly, the Ubuntuland meeting room, which allows teams to subscribe and book virtual places for meetings, is a noteworthy feature. It provides a special and fee-based virtual team meeting experience.
With a total supply of one billion (1bn) Ubuntu Tokens (UBUNTU), the official currency of the metaverse, it is based on the Polygon chain. According to the distribution plans, 2.5% goes to the Treasury, 2% to Staking Rewards, and 0.5% to the Charities Treasury. 1% of the 5% of the transaction fees paid by customers who engage in Ubuntu transactions on Africarare goes towards supporting the platform’s overarching goals.
Many private and corporate landowners, including companies like Nedbank, Primedia, Singularity Group, HAQQ Network, Mann Made, and Cyberkongz, can be found in Ubuntuland. Together, these organizations have logged over 20,000 hours of user engagement and have over 90,000 registered users and social media community members.
In another related report, Africarares Metaverse is bringing in smart shopping. The AI shop assistants in Ubuntuland are gearing up to provide tailor-made shopping experiences and expert suggestions. This will enable users to locate what they are looking for within the virtual marketplace.
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