Elrond (EGLD) becomes MultiversX and unveils an ecosystem built around the metaverse


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The Elrond blockchain (EGLD) is moving towards the metaverse and Web3 and announces a complete redesign of its ecosystem for the occasion. Thus, Elrond becomes MultiversX and unveils a wide range of new tools for its users, in parallel with a complete improvement of its already existing features

Elrond changes its name to becomes MultiversX

Elrond (EGLD), the decentralized blockchain that aims to develop the Internet of tomorrow, announces a paradigm shift and becomes MultiversX, a new complete ecosystem centered around the metaverse and the digital world.

In other words, MultiversX will continue to work through its blockchain and for all the tools that have contributed to the success of Elrond, whether it is its technology, the community or the ecosystem as a whole. But today, MultiversX extends its scope and wants to create the opportunity for the Web3 community to be at the heart of the transition to the metaverse.

This small revolution is centered around the creation of different poles, namely xWorlds, xPortal and xFabric. These different solutions each have their own particularities, but all have in common the ambition to accelerate the transition to Web3.

Here is what defines each of these new tools and what makes them unique.

xPortal, the gateway to the metaverse

xPortal is primarily defined as the evolution of the Maiar application that we already know, with the new objective of bridging the gap between virtual worlds and the physical reality. To achieve this, xPortal will allow its users to create an avatar to evolve and distinguish themselves within various metaverses, while being able to interact with their own non-fungible tokens (NFTs) and cryptocurrencies.

A true social portal, xPortal will introduce a brand-new messaging system so that anyone can chat with their friends and interact with different communities. Moreover, the application will now offer a real interactive experience thanks to an experience and level system, always keeping the user in the forefront.

Beyond the Web3 experience, xPortal will also allow any user to be rewarded in cryptocurrencies when immersing themselves in different metaverses. Additionally, xPortal will open access to numerous now essential tools, such as internal swap, farming, staking, or interaction features with different decentralized applications on the MultiversX network.

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Finally, for the first time, individuals wishing to interact in the metaverse will have the opportunity to possess a virtual credit card in partnership with Mastercard. And to ensure the connection between the physical and virtual worlds, they can also possess a card in the real world.

xFabric, democratizing Web3 for creators

Deployable in minutes and fully customizable, xFabric is a blockchain module built around one objective: allowing creators, brands, and institutions to step into Web3 without having to worry about any lines of code.

Aiming to initiate a new wave of creativity, always with the goal of merging Web3 and the real world, xFabric wants to enable creators to make a living from their digital works. This new tool has chosen to focus on security since it will incorporate its “Deep Truth Module,” a natively implanted solution that guarantees users’ digital integrity.

Additionally, concerning brands and businesses, xFabric will offer them a turnkey solution to take the Web3 turn without the usual technical burdens it entails.

xWorlds, the hyper-realistic metaverse

Introduced by Beniamin Mincu, the CEO of Elrond and now of MultiversX, xWorlds is the name of the metaverse of this new ecosystem that will be accessible to everyone next year.

xWorlds will act as an open, persistent, and hyper-realistic universe that aims to host, among others, businesses and commerce in addition to its users. This universe will be accessible in beta form from December 10th to test the project’s scalability with already 10,000 people expected.

Note that xWorlds is built in partnership with Improbable, the Web3 company specializing in the metaverse, which is notably in charge of developing Otherside, the metaverse of the iconic NFT collection of the Bored Ape Yacht Club (BAYC).

MultiversX brings a lot of changes

Numerous improvements are also being made to the various existing tools of the Elrond ecosystem, such as a complete overhaul of its decentralized exchange (DEX), which will now be called xExchange.

To further showcase its NFT hub, Inspire.art is becoming xSpotlight and revising its architecture so that the most polished and refined projects are highlighted, allowing their creators to be better rewarded for their work.

Finally, the Maiar Wallet is changing its identity and will now be called xWallet, Elrond Explorer is becoming xExplorer, Elrond Bridge will be renamed to xBridges, and finally, the Maiar Launchpad will be known as xLaunchpad

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