Blockchain Startup Elrond Rebrands to Focus on Metaverse
Elrond will aim to build on its prior work as a layer 1 blockchain with a focus on scalability to advance Web3 technology in the form of metaverse-related products.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MNZ7HX7MWVARTLA2WMHGFAB2NQ.png)
(Melody Wang/CoinDesk)
Blockchain startup Elrond has rebranded itself MultiversX to reflect its pivot to metaverse exploration.
Elrond will aim to build on its prior work as a layer 1 blockchain with a focus on scalability to advance Web3 technology in the form of metaverse-related products.
The metaverse is a conceptual world where the internet theoretically becomes an immersive virtual environment that can be used for work, play, socializing, and events. The term “metaverse“ was coined by Neal Stephenson in his 1992 novel “Snow Crash.“
With the rebrand, Elrond would appear to be following the lead of social media giant Facebook, which last year renamed itself Meta to reflect its metaverse-related aspirations.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.