Find here which Blockchain Startup Rebrands to focus on Metaverse
- Elrond, recently announced that it is transforming and expanding into MultiversX.
- The CEO of Elrond shared the information through his recent tweet.
Beniamin Mincu, founder and CEO of Elrond Network, shared a post on November 4, 2022, as “Elrond transforms and expands into MultiversX. We open a bridge between worlds, at the intersection of worlds and across worlds. This is our new challenge. One that we will expand on in the years to come.”
Mr. Mincu also shared the website link of MultiversX in his tweet.
MutiversX: A Step Towards Metaverse World
MultiversX is built from first principles, to solve the two fundamental problems critical for widespread, global adoption and a significant UX paradigm shift. According to the recently launched official website of MultiversX, “It is a highly scalable, secure and decentralized blockchain network created to enable radically new applications, for users, businesses, society and the new metaverse frontier.”
The purpose of MultiversX is to create an elegant and powerful expression of a positive, complementary and perhaps even magical interaction between the physical world and the Metaverse world.
The roadmap for all Elrond products over the next few months will be merged into the MultiversX ecosystem, that is, for the transition to the new brand and positioning.
However, the product merger will be gradual and expected names will be changed from, Elrond Wallet to X Wallet, Maiar Launchpad to X Launchpad, Maiar Exchange to X Exchange, Inspire to X Spotlight, Ad Astra bridge to X Bridges, Utrust to X Money Crypto, Twispay to X Money Fiat.
And in addition, X Fabric, X Portal and X Worlds are set to be the most exciting apps in the whole space. MultiversX (power to x) will be the blockchain network and Mother Brand.
Elrond’s role in MultiversX post-merger can be seen as the Elrond network will move forward to continue to be the heart of the entire ecosystem, and will now expand and transform the name of MultiversX.
Elrond added eGold, the EGLD token that will be the centerpiece and one of the most ambitious Metaverse ecosystems in the world. It will provide security for the network via staking, enabling accessibility and value exchange across all its applications and worlds.
Elrond eGold (EGLD) is native to the Elrond network and will be used for everything from staking, governance, transactions, smart contracts and validator rewards. According to CoinMarketCap, EGLD’s current price is $57.39 with a market capitalization of $1.36 billion. The volume that the token has is around $64.10 million and the wallet availability is at 1.9 million worldwide.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional money exchange systems. She is also fascinated by the blockchain technology and its function.
