Elrond Moves to Metaverse and Calls Itself MultiversX

Elrond, an internet-scale blockchain technology startup, has announced about shifting its focus to Metaverse and changing the company’s name to MultiversX.

According to the press release shared on November 4th, along with rebranding, MultiversX introduces three new products, xFabric, xPortal, and xWorlds.

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xFabric is a “sovereign blockchain module and core blockchain applications” offering various features and use cases.

On the other hand, in the announcement, MultiversX calls xPortal a “true SuperApp.” The company highlighted that with this product, customers would use it to enter Metaverse, customize their avatar, manage their finances and debit card, and chat with friends. Moreover, MultiversX added that the platform is “accessible to anyone, anywhere in the world.”

The last product is xWorlds. MultiversX created the product in collaboration with the multinational technology firm, Improbable. The company notes that xWorlds enables “unprecedented new experiences deeply integrated with xPortal and xFabric.”

MultiversX (formerly Elrond Network) CEO and founder Beniamin Mincu, when talking about the rebranding, noted:

Incredible amounts of creative energy are being poured into multiple compelling metaverse visions. MultiversX is building the collaborative framework and composable toolkit to set up the stage for a positive sum game of enormous stakes. For reimagining the entire spectrum of human experience and for reinventing the frontend of every business vertical.

MultiversX plans to continue working on its newest products on the groundwork made by Elrond Network and its community. Mincu noted that the Elrond community was always appreciative of any changes and updates.

In order to create a masterpiece, you have to look at the world differently and make bold strokes. The community has always appreciated when we’ve made giant leaps forward.

The full scale of MultiversX and its products was presented during “a 3-day event at the Brongniart palace in Paris.”