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 04, 2022, as “Elrond transforms and expands into MultiversX. We are opening a bridge between worlds, at the intersection of worlds, and across worlds. This is our new challenge. One that we’ll expand on for 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 newly launched official website of MultiversX, “It is a highly, scalable, secure and decentralized blockchain network that is 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 for a positive, complementary, and perhaps even magical interplay between the physical world and the Metaverse world.

The roadmap of all Elrond products in the next months will be merged into MultiversX ecosystem, that is for transitioning to the new brand and positioning.

However, the product merging will be gradual and the expected naming 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, additionally X Fabric, X Portal, and X Worlds are set to become the most exciting apps in the entire space. The MultiversX (power to x) will be the blockchain network and Mother Brand.

Elrond’s Role in MultiversX after merging 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 its name into MultiversX.

Elrond added eGold, EGLD token that will be the centerpiece powering and one of the most ambitious Metaverse ecosystems in the world. It will provide security of the network via staking, and enabling accessibility and value exchanges across all of 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. As per the CoinMarketCap, EGLD current price is $57.39 with the market cap of $1.36 Billion. The volume that the token has is around $64.10 Million and its wallet availability is worldwide 1.9 Million.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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