Elrond Renamed To MultiversX, Focusing On Web3 And Metaverse

Elrond, a blockchain startup, has changed its name to MultiversX to reflect its shift into metaverse research.

Three new metaverse-focused products will be released by the company, formerly known as Elrond, under its new moniker, MultiversX. The three new tools, xFabric, xPortal, and xWorlds, all aim to assist users and developers of the metaverse.

A metaverse site, a digital asset holder, creator utilities, and a deployable blockchain module are among the available tools.

In order to improve Web3 technology and create products connected to the metaverse, the company will strive to build on its earlier work as a layer 1 blockchain with a focus on scalability.

Elrond appears to be imitating social media juggernaut Facebook, which changed its name to Meta last year to better reflect its objectives for the metaverse with the rebrand.

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