Elrond blockchain (EGLD) is making a shift towards the metaverse and Web3, announcing a total overhaul of its ecosystem for the occasion. Thus, Elrond becomes MultiversX and unveils a wide range of new tools to its users, in parallel with a complete improvement of its already existing functionalities.
Elrond changes his name and becomes MultiversX
Elrond (EGLD)the decentralized blockchain that aims to develop the Internet of tomorrow, announces a paradigm shift and becomes MultiversX, an entirely new ecosystem centered around the metaverse and the digital world.
Today begins a new chapter.
A bridge between worlds, at the intersection of worlds and across worlds.
— Beniamin Mincu | xday.com | Paris. November 3-5 🔥 (@beniaminmincu) 3 November 2022
In other words, MultiversX will continue to work through its blockchain and for all the tools that have contributed to Elrond’s success, whether in terms of technology, society, or the ecosystem as a whole. But today, MultiversX is expanding its scope and wishes create the possibility that the Web3 community can be at the heart of the transition to the metaverse.
This small revolution revolves around the creation of different poles, namely xWorlds, xPortal and xFabric. These different solutions each have their own special characteristics, but have one thing in common the ambition to accelerate the transition to Web3.
Here’s what defines each of these new tools and what makes them unique.
xPortal, the gateway to the metaverse
xPortal is defined above all as the development of the Maiar app as we already knew, but with the new goal bridging the gap between virtual worlds and physical reality. To achieve this, xPortal will allow its users to create an avatar to evolve and differentiate themselves within the various metaverses while being able to interact with their own non-fungible tokens (NFT) and their cryptocurrencies.
Real social portal, xPortal will introduce a brand new messaging system so everyone can chat with their friends and interact with the different communities. In addition, the application will now offer a truly interactive experience thanks to an experience and level system, always with the user in the foreground.
In addition to the Web3 experience, xPortal will also allow any user to be rewarded in cryptocurrencies during its immersion in the various metaverses. In addition, xPortal will provide access to many now important tools, such as internal swap, farming, staking or even interaction with various decentralized applications of the MultiversX network.
Finally, for the first timepeople who want to interact in the metaverse will be able to has a virtual credit card as part of a partnership with Mastercard. And to ensure the connection between the physical world and the virtual world, the latter will also be able to have a map in the real world.
xFabric, the democratic Web3 for creators
Deployable in minutes and fully customizable, xFabric is a blockchain module built around a single goal: to enable creators, brands and institutions to set foot in Web3 without having to bother with a single line of code.
Aiming to start a new wave of creativity, always aiming to blend Web3 and the real world, xFabric wants enable creators to earn a living from their digital works. This new tool has chosen to focus on security as it will embed its “Deep Truth Module”, a natively implemented solution that guarantees the digital integrity of users.
Additionally, for brands and businesses, xFabric will offer them a turnkey solution for take the trip to Web3 without the technical mess it usually entails.
xWorlds, the hyper-realistic metaverse
Introduced by Beniamin Mincu, CEO of Elrond and now from MultiversX, xWorlds is the name of the metaverse in this new ecosystem that will be available to everyone from next year.
xWorlds will function as an open, persistent and hyper-realistic universe that tends to accommodate, among other things, businesses and corporations in addition to its users. This universe will be available in beta form from December 10 to test the scalability of the project with already expected 10,000 people.
note that xWorlds is built in collaboration with ImprobableThe Web3 company specializing in the metaverse, notably responsible for the development of Otherside, the metaverse for the iconic collection of NFTs from the Bored Ape Yacht Club (BAYC).
MultiversX begins its share of changes
Many improvements have also been made to the various existing tools in the Elrond ecosystem, such as a total overhaul of its decentralized exchange (DEX)which will now be called xExchange.
To further highlight its hub dedicated to NFTs, Inspire.art becomes xSpotlight and revamps its architecture to bring the most successful and polished projects to the fore. so that their creators are more rewarded for their work.
Finally, Maiar Wallet will change its identity and will now be called xWallet, UTrust will become xMoney, Elrond Explorer will become xExplorer, Elrond Bridge will be called xBridges, and finally Maiar Launchpad will take the name xLaunchpad.
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