Elrond changes his name and aims for the metaverse

It is blowing a wind of optimism for the crypto ecosystem in France. A few days ago, Finance Minister Bruno Le Maire told our colleagues from BFM TV that he would “make the EU the world’s leading economic zone in terms of structuring and organizing the market for crypto-assets. And we want France to be the European focal point for the crypto-asset ecosystem in it.”.

As part of Elrond’s X Day conference currently being held at the Palais Brongniart in Paris, Minister responsible for the digital transition, Jean-Noël Barrot, also took the opportunity to renew Emmanuel Macron’s wishes to position France as the leader of digital revolution, blockchain and metaverse.

An ambitious project

Founded in 2017, Elrond is a decentralized (fast) blockchain network that aimed to offer a lot of applications, such as an alternative to the existing global financial infrastructure. Behind this concept, the project is particularly working on tools to bring a financial ecosystem onto its blockchain with a dedicated cryptocurrency (ELGD).

However, on the occasion of X Day, Elrond announced a complete overhaul of his ecosystem with a single new goal: become the reference in the metaverse. It is thus natural that the company also changed its name (and identity) to rename itself MultiverseX.

For pTo place “at the epicenter of change” and “to venture beyond current boundaries”, MultiversX relies on three new products: xFabric, xPortal and xWorlds. These are all connected in one way or another. Probably the most iconic is xWorlds – which is nothing more than an open metaverse.

xWorlds, a new metaverse

At a time when Mark Zuckerberg and Meta are grinding their teeth on their metaverse project, MultiversX believes it has found the solution to facilitate virtual interactions and generate enthusiasm among its community.

During its presentation, the company presented its roadmap for its open metaverse, with a beta version available from December 10 and an official release sometime next year. MultiversX is currently recruiting the first 10,000 followers who will discover this metaverse in preview (sign up here).

MultiversX claims that its metaverse will be a “open universe […] allowing hyper-realistic social interactions, economic exchanges and that it will be ready to accommodate businesses and various businesses”.

Carrefour, Casino, Axa, Ubisoft or Havas are all French companies that have already taken the step to a metaverse and invest heavily to create a link to their society. MultiversX also wants to create the connection between the various participants.

© MultiverseX

Join the MultiversX metaverse

If xWorlds is the basis of this project, MultiversX has introduced two other products that will create the connection between the real world and the virtual one. First and foremost, xPortal is the “gateway” to the xWorld metaverse. This service is none other than the development of the Maiar application, published by the same company that until now has allowed you to store and exchange your cryptocurrencies.

xPortal goes further than a simple wallet as it introduces the concept of avatar for users. It is he who will interact in the virtual world with other participants. MultiversX designed its metaverse to create an environment that fosters interactions between members. They will have a real interest in staying there and playing with financial motivation at stake.

The xPortal app has partnered with Mastercard to introduce the world’s first “multiverse credit card”. Users will be able to have a virtual card as well as a physical card to use their cryptocurrencies. This service will arrive in early 2023, according to the words of Beniamin Minciu, co-founder and CEO of MultiversX.

Convinced that the success of its metaverse will flow through its community, MultiversX has envisioned xFabric, an idea box that allows you to build the metaverse. Good news: even users who have no idea about code will be able to contribute to the development of this ecosystem. All stakeholders are welcome: content creators, institutions and brands will be able to access this turnkey platform to release their projects into the metaverse.


In collaboration with Elrond


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