Nedbank is to become the first African bank to enter the metaverse, buying 144 plots in yet-to-be-built Unbutuland to create a virtual financial services village.
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 bank is joining other early settlers in Ubuntuland, including MTN, World Data Lab, and M&C Saatchi Abel.
Nedbank’s entry into the metaverse follows similar investments from the likes of DBS Bank, HSBC, JP Morgan, and Fidelity Investments.
Khensani Nobanda, group executive for marketing and corporate affairs at Nedbank Group says: “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.”