Elrond rebrands as MultiversX as it shifts focus to the metaverse

Blockchain technology developer Elrond has rebranded to MultiversX to focus on the metaverse. The company announced today it will shift to focus on the metaverse with the introduction of three new products aimed to help metaverse creators and users.

According to its website, MultiversX 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 metaverse-forward company says the three new products: xFabric, xPortal, and xWorlds, will form the pillars of the evolution of the new company. Beniamin Mincu, the CEO of MultiversX, said the new rebranding will benefit both digital and physical reality.

“Incredible amounts of creative energy are being poured into multiple compelling metaverse visions.” said Beniamin Mincu, CEO and founder of MultiversX (formerly Elrond Network). “MultiversX is building the collaborative framework and composable toolkit to set up the stage for a positive sum game of enormous stakes. For reimagining the entire spectrum of human experience and for reinventing the frontend of every business vertical.”

Meanwhile, MultiversX says it will continue to build on the remarkable success of the Elrond Network, technology, community, and ecosystem. It will continue to advance the groundbreaking scalable blockchain protocol and tools on the mission of proliferating Web3 technology.

“In order to create a masterpiece, you have to look at the world differently and make bold strokes. The community has always appreciated when we’ve made giant leaps forward.”

Furthermore, the company said will expand and broaden the original scope and create a unique opportunity for its millions of users and vibrant ecosystem to lead the once-in-a-generation societal shift towards the metaverse.

As we reported earlier this year, the National Institute for Research and Development In Informatics in Bucharest, Romania, announced it will use the Elrond blockchain to develop a decentralized domain system and an NFT marketplace.

The momentous transformation will unfold over a 3-day event at the Brongniart palace in Paris, where Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications, Sebastian Burduja, Romanian Minister of Research, Innovation, and Digitalization, and important Industry leaders from finance, blockchain, web3, and the Metaverse, will be introduced to the broadened MultiversX scope, products and path forward.