Romania-based blockchain project Elrond rebrands as MultiversX as it aims to “open the metaverse to the world”. The company made the announcement during its first X Day international conference in Paris, taking place on November 3-5 at the Palais Brongniart.

Jean-Noel Barrot, the French Minister for Digital Transition and Telecommunications, and Sebastian Burduja, the Romanian Minister for Research, Innovation and Digitization, both joined Elrond’s founder and CEO Beniamin Mincu on stage at this event.

MultiversX will focus on three products: xFabric - a sovereign blockchain module that’s fully customizable and deployable in minutes, xPortal - a platform for metaverse avatars and everything finance and social, and xWorld - a network of interoperable metaverses.

xPortal, which replaces the Maiar app, will also allow fiat currency transfers and will offer users a debit card developed in partnership with Mastercard. It will also connect users with friends with chat and socializing features.

“MultiversX introduces a new collaboration framework and toolset that creates the premises for a game with a major and positive impact: redefining the entire spectrum of human experiences and reinventing every business vertical in this new light,” said Beniamin Mincu, founder and CEO of MultiversX.

Elrond (EGLD), the native cryptocurrency of the MultiversX platform, was trading at close to USD 60 on Friday, after the company announced its new strategy. Elrond is currently one of the top 50 cryptocurrencies in the world, with a market capitalization of over USD 1.4 bln, according to Coinmarketcap.com.

editor@romania-insider.com

(Photo source: @ElrondNetwork on Twitter)