The Elrond blockchain (EGLD) is making a shift towards the metaverse and Web3 and announces a total overhaul 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 functionalities.
This article is written in partnership with Elrond (find out more)
Elrond changes its name and becomes MultiversX
Elrond (EGLD)the decentralized blockchain that aims to develop the Internet of tomorrow, announces a paradigm shift and becomes MultiversX, a complete new ecosystem centered around the metaverse and the digital world.
Today, a new chapter begins.
A bridge between worlds, at the intersection of worlds, and across worlds.
This is our new challenge. Our new vision.@ElrondNetwork transforms and expands into MultiversX. pic.twitter.com/lpk8qvTu1I
— Beniamin Mincu | xday.com | Paris. Nov 3-5 🔥 (@beniaminmincu) November 3, 2022
In other words, MultiversX will continue to work through its blockchain and for all the tools that have contributed to the success of Elrond, both in terms of its technology, the community or the ecosystem as a whole. But today, MultiversX extends its field of action and wants create the opportunity for the Web3 community to be at the heart of the transition to the metaverse.
This small revolution revolves around the creation of different poles, namely xWorlds, xPortal and xFabric. These different solutions each have their particularities, but have in common the ambition to accelerate the transition to Web3.
Here’s what defines each of these new tools and what makes them unique.
xPortal, the gateway to the metaverse
xPortal is defined above all as the evolution of the Maiar app that we already knew, with however the new objective of bridging virtual worlds and physical reality. To achieve this, xPortal will allow its users to create an avatar in order to evolve and distinguish themselves within the different metaverses, while being able to interact with their own non-fungible tokens (NFT) and their cryptocurrencies.
Real social portal, xPortal will introduce a whole new messaging system so that everyone can chat with their friends and interact with the different communities. In addition, the application will now offer a real interactive experience thanks to an experience and level system, always with the user in the foreground.
Beyond the Web3 experience, xPortal will also allow any user to be rewarded in cryptocurrencies during its immersion in the various metaverses. In addition, xPortal will provide access to many now essential tools, such as internal swap, farming, staking, or even interaction with various decentralized applications of the MultiversX network.
Finally, for the first timepeople wishing to interact in the metaverse will have the opportunity to have a virtual credit card as part of a partnership with Mastercard. And in order to ensure the link between the physical world and the virtual world, the latter will also be able to have a card in the real world.
xFabric, the democratized Web3 for creators
Deployable in minutes and totally customizable, xFabric is a blockchain module built around a single objective: to enable creators, brands and institutions to set foot in Web3 without having to bother with a single line of code.
Aiming to start a new wave of creativity, always with the aim of mixing Web3 and the real world, xFabric wants enable creators to earn a living from their digital works. This new tool has chosen to focus on security, since it will embed its “Deep Truth Module”, a natively implemented solution that guarantees the digital integrity of users.
In addition, regarding brands and companies, xFabric will offer them a turnkey solution for take the turn of Web3 without the technical clutter that usually entails.
xWorlds, the hyper-realistic metaverse
Introduced by Beniamin Mincu, CEO of Elrond and now from MultiversX, xWorlds is the name of the metaverse of this new ecosystem which will be accessible to everyone from next year.
xWorlds will act as an open, persistent and hyper-realistic universe that tends to accommodate, among other things, businesses and businesses in addition to its users. This universe will be available in beta form from December 10 in order to test the scalability of the project with already 10,000 people expected.
note that xWorlds is built in partnership with Improbablethe Web3 company specializing in the metaverse which is notably in charge of the development of Otherside, the metaverse of the iconic collection of NFTs from the Bored Ape Yacht Club (BAYC).
MultiversX embarks on its share of changes
Many improvements are also made to the various existing tools of the Elrond ecosystem, such as a total overhaul of its decentralized exchange (DEX)which will now be called xExchange.
In order to further highlight its hub dedicated to NFTs, Inspire.art becomes xSpotlight and revamps its architecture so that the most successful and polished projects are brought to the fore. so that their creators are more rewarded for their work.
Finally, the Maiar Wallet changes its identity and will now be called xWallet, Elrond Explorer will become xExplorer, Elrond Bridge will be called xBridges, and finally the Maiar Launchpad will take the name of xLaunchpad.
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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