Elrond changes his name and points to the metaverse

A wind of optimism is blowing for the crypto ecosystem in France. A few days ago, Finance Minister Bruno Le Maire told our colleagues at BFM TV that he wanted to “making the European Union the world’s leading economic zone in terms of structuring and organizing the cryptocurrency market. And we want France to become the European hub of the cryptocurrency ecosystem within it “.

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

An ambitious project

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

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

For sTo place “at the epicenter of change” and “to venture beyond current borders”, MultiversX relies on three new products: xFabric, xPortal And xmondi. 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 breaking their teeth on their metaverse project, MultiversX thinks it has found the solution to facilitate virtual interactions and create excitement from its community.

During its presentation, the company unveiled its roadmap for its open metaverse with a beta version available December 10 and an official release next year. MultiversX is currently recruiting the first 10,000 supporters who will discover this metaverse in preview (register 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 welcome various businesses and enterprises ”.

Carrefour, Casino, Axa, Ubisoft or Havas are all French companies that have already taken the step of the metaverse and are investing heavily to connect with their community. MultiversX also wants to create the connection between the different participants.

© MultiversX

Join the MultiversX metaverse

If xWorlds is the basis of this project, MultiversX has introduced two other products that will act as a link between the real and virtual world. First of all, xPortal is the “gateway” to the xWorlds metaverse. This service is none other than the evolution of the Maiar application, published by the same company, which until now allowed you to store and exchange your cryptocurrencies.

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

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

Convinced that the success of his metaverse will pass through his community, MultiversX came up with xFabric, a box idea that will allow you to build in the metaverse. Good news: even users who have no notion of 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 publish their projects in the metaverse.

In collaboration with Elrond

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