Quick take:
- LivaatVerse has teamed up with Orange Money to provide payments on its metaverse platform.
- The deal will make Orange Money Jordan’s exclusive mobile wallet on LivaatVerse.
- Orange Money joins the likes of Nike on a growing list of global brands that have embraced web3 and the metaverse.
Orange Money has jumped on the metaverse train after announcing a partnership with the Jordanian metaverse platform LivaatVerse. The French telco giant joins the likes of global sportswear and apparel brand Nike, South African telco giant MTN and several others on leading brands that have embraced web3 and the metaverse.
Nike last year led headlines after generating more than $185 million from NFTs, with other brands like Gucci and Adidas also posting significant numbers. The sportswear and apparel company has become the benchmark for brands looking to make money from web3 platforms.
Web3 is a next-gen internet built on blockchain technology. Unlike web2, Web3 prioritises user ownership through token-based voting mechanisms, trustless communications that enable the execution of transactions without exposing user privacy and decentralised applications.
Although some metaverse platforms are built on web2, web3 is the primary underlying technology that enables metaverse worlds to deliver the full digital experience to users.
LivaatVerse started off as Livaat App a live-streaming mobile application launched in 2019. However, it has since grown to become an integrated virtual experience platform offering digital assets like NFTs, a token-based voting mechanism for governance, and now a digital wallet in the metaverse.
Its partnership with Orange Money will allow the telco giant to leverage LivaatVerse’s technology to create a digital twin in the metaverse making the money service provider Jordan’s exclusive mobile wallet for transactions in the LivaatVerse metaverse.
According to Orange Money, this deal earmarks the company’s commitment to adopting emerging technological developments.
Commenting on the partnership, Sami Smeirat, chairman of Orange Money said: “Orange Money has become the leader by the number of open wallets, at over 700,000, and has the highest in volume of transactions,” based on data from official sources. It is also the largest payment service provider (PSP) in Jordan according to Smeirat.
Wilfred Yver, chief digital, data, innovation and money officer at Orange Jordan commented: “Orange Money’s milestones in a record period reflect the operator’s efforts to remain at the forefront of digital transformation. LivaatVerse has come a long way in building the infrastructure for the metaverse, comprising integrated units supporting and managing this virtual world, which Orange Money will be a part of, under the agreement.”
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