Facing Facebook, MultiversX (formerly Elrond) has envisioned a hyper-realistic metaverse.

Paris, the new capital of cryptocurrency? In recent weeks, industry giants Binance and Crypto.com have announced the opening of their European offices in the City of Light.

It's almost at the same time that the Elrond blockchain held its first major conference called X Day, also in Paris at Palais Brongiart. For the occasion, it gathered a host of personalities such as Jean-Noël Barrot, Minister Delegate for Digital Transition and Telecommunications, who proudly reiterated France's ambitions in blockchain and web3.

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Hello MultiversX!‍

On a 4,000m2 area and for 3 days, the crypto industry gathered to discover the new project around the popular blockchain. After a long desire to compete with Ethereum on a generalist dimension, Elrond has chosen its path: it now aims to become a reference in the metaverse by capitalizing on its ultra-fast blockchain. On this occasion, it has decided to rebrand as MultiversX with an entirely new ecosystem.

This name change reflects a broader evolution in the project's vision. At its core is a new metaverse: xWorlds. The latter will be available in beta form starting from December 10. Only a handful of lucky ones will have access to the platform (waiting list here) before a public release in the course of 2023.

However, MultiversX took advantage of the conference to unveil an enticing version of its new virtual world, featuring ultra-realistic graphics. This has earned it a number of favorable comparisons to Facebook Horizon World's metaverse, whose initial elements are struggling to impress.