Elrond becomes MultiversX to build the metaverse of tomorrow

Blockchain Elrond (EGLD) announces a complete overhaul of its ecosystem making a transition to Metaverse and Web3. As a result, Elrond changed its name to MultiversX and introduced a wide range of new tools to its users, revising its existing functionality.

Elrond changes his target now targeting the metaverse

Founded in 2017, Elrond is a decentralized (fast) blockchain network designed to provide a multitude of applications as an alternative to the existing global economic infrastructure.

Behind the concept, the project is particularly focused on developing tools to build a financial ecosystem on its blockchain using a dedicated cryptocurrency (ELGD).

Elrond (EGLD), a decentralized blockchain aimed at the development of the Internet of the future, has therefore announced a paradigm shift to become MultiversX, a new complete ecosystem focused on the Metaverse and the digital world.

MultiversX believes it has found a solution to facilitate virtual interaction and generate enthusiasm in its community.

In other words, MultiversX will continue its original project through its blockchain and all the tools that contribute to the success of Elrond, whether in terms of technology, community or its entire ecosystem. But today, MultiversX has expanded its reach and hopes to create opportunities for the Web3 community to be at the heart of the transition to the Metaverse.

During the demo, the company showed its roadmap for building its open virtual world, with a beta release on December 10 and an official launch sometime next year. MultiversX is currently recruiting the first 10,000 contributors who will be able to use this metaverse as a preview.

xPortal, the new Maiar

While some competing metaverses are working hard to generate regular usage for their solution, the MultiversX team is increasing their work on the community side.

Through avatars (via xPortal, which itself will be the successor to the Maiar application), participants will be able to interact with other members, buy and sell goods and services. The founders of the project wanted to emphasize the commercial part of their service, hoping to attract the biggest brands in the real world.

An application long limited to the exchange and storage of cryptocurrencies on the Elrond blockchain, Maiar (the new xPortal) will play a crucial role: the application will bridge the gap between the real and the virtual world.

In addition to the Web3 experience, xPortal will allow any user to be rewarded with cryptocurrencies while immersed in different metaverses. In addition, xPortal will provide access to many already essential tools such as exchanges, farming, staking or even interaction with the various decentralized applications of the MultiversX network.

Finally, as part of a partnership with Mastercard, people who wish to interact in the Metaverse will have the opportunity to own a virtual credit card, for the first time. And to guarantee the connection between the physical and the virtual world, the latter can also have a map in the real world.

Instant messaging services and many games are directly accessible from it. As for the app-specific wallet, it will be renamed xWallet. It will store crypto-currencies but also NFTs and can also be used in xWorlds.

France is positioning itself in the digital sector

It blows a breath of optimism for the French crypto ecosystem. A few days ago, the Minister of Finance, Bruno Le Maire, declared to our colleagues from BFM TV that he wanted to “make the EU the leading economic region in the world in terms of infrastructure and organization of the cryptoasset market. We want France to be the European hub of the crypto-asset ecosystem.”

As part of the Elrond X Day conference, which is currently taking place at the Palais Brongniart in Paris, Jean-Noël Barrot, the minister responsible for digital transformation, also took the opportunity to reiterate Emmanuel Macron’s desire to position France as a point of reference for innovation , digital revolution, blockchain and metaverse.

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