New Development: Elrond Transforms into MultiversX, Introducing Three Innovative Metaverse Offerings
In a groundbreaking move, the cryptocurrency and blockchain platform previously known as Elrond is rebranding to MultiversX, marking the start of a new chapter in its Web3 journey. This transformation was announced at the annual conference, X Day, held at Palais Brongniart in Paris between November 3 - 5th.
One of the key highlights of the rebranding is the launch of three new digital products designed to enhance Web3 experiences. Among these, xFabric, claimed to be one of the most exciting apps in the MultiversX ecosystem, is set to make waves.
MultiversX is also developing and releasing a new multipurpose token called XMN on the Sui blockchain. Alongside this, the platform is enhancing its governance participation features and creating enhanced loyalty and reward frameworks for token holders. The previous UTK token will be converted to XMN, with options offering different reward rates and lock-up terms to support long-term growth and ecosystem engagement.
Another exciting product from MultiversX is xWorlds, an open metaverse that aims to facilitate virtual interactions and business development in a hyperrealistic experience. A beta version of xWorlds will become available on December 10th, with 10K users set to test its scalability next month.
In addition to these, MultiversX is building a collaborative framework and composable toolkit for a positive sum game in the Web3 space. xPortal, a SuperApp, brings all Web3 experiences in a single place, including chatting, gaming, NFT collection, shopping, and cryptocurrency rewards.
Moreover, MultiversX is partnering with Mastercard to offer digital and physical cards linked to the same account. This partnership will be reflected in the renaming of several platform services, such as Elrond Wallet becoming X Wallet, Maiar Exchange becoming X Exchange, Twispay becoming X Money Fiat, Ad Astra Bridge becoming X Bridges, Maiar Launchpad becoming X Launchpad, and Utrust becoming X Money Crypto. Inspire will be renamed X Spotlight.
The conference, which marked the beginning of this new era, featured the French Minister for Digital Transition and Telecommunication Jean-Noel Barrot and the Romanian Minister of Research, Innovation, and Digitalization.
For the latest updates and releases regarding MultiversX, follow the team on Twitter. MultiversX aims to improve user experiences and connect the Metaverse with the physical world, promising an exciting future for Web3 enthusiasts.
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