Blockchain Company Elrond Rebrands to MultiversX to Focus on Building Metaverse-related Products

The announcement was made during MultiversX’s three-day conference in Paris.
Image source: Benjamin Mincu/Twitter

Quick take:

  • The newly rebranded company will focus on a blockchain module, a portal and a network for metaverse interoperability.
  • MultiversX will continue to use Elrond’s blockchain ecosystem and the EGLD token.
  • Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications other industry leaders were present at the conference/

Blockchain company Elrond today announced its rebranding to MultiversX as it expands its product offerings to Web3 and the metaverse. The announcement was made during X Day. Paris, MultiversX’s three-day conference taking place from Nov 3 – 5 in France’s former stock exchange, the Palais Brongniart.

The newly rebranded company will focus on three products: xFabric, a blockchain module that’s fully customisable and deployable in minutes; xPortal, a platform for metaverse avatars and everything finance and social; and xWorld, a network of interoperable metaverses.

Benjamin Mincu, CEO and founder of MultiversX (formerly Elrond), said during the conference: “Incredible amounts of creative energy are being poured into multiple compelling metaverse visions. MultiversX is building the collaborative framework and composable toolkit to set up the stage.”

Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications, Sebastian Burduja, Romanian Minister for Research, Innovation and Digitization – who were both speaking at X Day.Paris – and other industry leaders in fintech and Web3 were introduced to the new platform.

MultiversX will continue to use Elrond’s blockchain to power its ecosystem and the EGLD token to secure the network via staking. Over the next few months, all Elgorand products will be merged into the MultiversX ecosystem, transitioning to the new brand and positioning.

During the conference, it was also announced that Web3 browser, Opera, has integrated support for Elrond.

Notable attendees of X Day.Paris include hardware wallet company Ledger, Morningstar Ventures, Binance France, Deloitte, Yuga Labs, Second Life, MoonPay, and Huobi Global, amongst others. 

Speakers include Christian Rau, Senior Vice President Crypto and Fintech Enablement at Mastercard Europe; Yuga Labs CEO Nicole Muniz; Victor Baconnet, Blockchain Product Owner at Ledger; and David Princay, General Manager at Binance France.

Topics discussed at the conference mainly focused on the Web3 ecosystem as well as the metaverse and their use cases such as autonomous banking, social interaction, NFTs and more.

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