Elrond becomes MultiversX and focuses on the metaverse

The blockchain developer has announced that it will transform into MultiversX, as it focuses on metaverse development and introduces three new products.

Blockchain technology developer Elrond has announced that it will redefine itself as a new metaverse-focused brand.

Formerly known as Elrond, the company will evolve under the new name of MultiversX with the introduction of three new metaverse-forward products. xFabric, xPortal, and xWorlds are the three new tools behind the rebrand, all of which aim to help creators and users of metaverses.

Tools include a metaverse portal, digital asset holder, authoring utilities, and a deployable blockchain module.

Beniamin Mincu, the CEO of Elrond, commented to Cointelegraph saying that the new consolidation will benefit both digital and physical reality.

"We are now able to create a broader path to growth, adoption, and utility, for the real world and the metaverse."

MultiversX says it plans to continue to build on the community and groundwork that the Elrond Network has already put in place, such as existing technologies and the ecosystem. Mincu said that the Elrond community has always supported new developments.

"To create a masterpiece, you have to look at the world differently and make bold strokes. The community has always appreciated when we have taken giant steps forward."

Earlier this year, the National Institute for Computer Science Research and Development in Bucharest, Romania, announced that it would use the Elrond blockchain to develop a decentralized domain system and NFT marketplace.

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