IBF Net, the company behind the first Halal metaverse, Netverse, is building a virtual education city as part of its growth strategy.
To be known as Octagon, the virtual education city is one of a few projects IBF Net is working on to enhance Netverse.
“We are planning to expand our virtual learning hub called Net Varsity and our virtual marketplace called Net Bazaar,” IBF Net CEO Mohammed Alim told IFN.
Launched in January, Netverse is the first Shariah compliant metaverse to be built on the Algorand blockchain.
Earlier this month, it began the initial offering if its IBFN tokens on the Polykick platform to raise funds in support of the next phase of development for its Islamic metaverse project which revolves around education as well as trading Halal goods and services.
IBF Net has already launched several platforms for multiple Islamic business and finance use cases that use IBFN tokens as the intra-network and in-verse currency, facilitating costless transactions within the network.
According to Mohammed, the network has built a community of approximately 45,000 and is on track to reach its targeted 100,000 members by the end of this year.
“We are actually very close to reaching that goal. We are targeting all the major university campuses that teach Islamic economics, business and finance across the world,” Mohammed said.
IBF Net is also designing a learning program in Islamic economics, business and finance for high school and pre-university students.
“We want to make sure we are engaging with younger students so that they can learn about the benefits of a Halal economy early on,” Mohammed said, adding: “We are going to gamify some of the courses and certification programs we offer. We think it’s going to be a lot of fun for our members.”
This is an excerpt of an interview with Mohammed Alim, CEO of IBF Net. To listen to the full discussion, log on to IFN Podcast.