MultiversX Unveils New Features at xDay 2023
In the next three days, our team at Bitcoinist will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 to focus on the Metaverse, one of the hottest trends in crypto.
xPortal Expands to Compete with Elon Musk
During the event, the head of product for MultiversX’s native “SuperApp” xPortal, Sergius Biris, unveiled new features to expand the ecosystem. The project aims to onboard new users to the network by providing social interactions, a bridge with other blockchains, and more to compete with Elon Musk.
MultiversX Challenges Musk’s Ambitions
Since last year, when Musk acquired Twitter (rebranded as “X”), the entrepreneur has progressively tried to turn it into something more. The social media app allows users to receive tips, subscribe to their favorite content, and interact with non-fungible tokens. MultiversX and xPortal want to compete with Elon Musk by providing users access to these and other features announced during the conference.
xPortal’s Advantage over X
In contrast with X and Musk’s attempts, the team behind xPortal believes they have a critical advantage: their product is live and has over 1.5 million users already transacting and interacting with the MultiversX ecosystem.
New Features and Advancements
Moreover, MultiversX has a vision to remove all friction from onboarding their ecosystem. Thus, xPortal announced a new fiat to crypto on and off-ramping capability and a feature enabling users to swap their tokens. For European users, xPortal will enable peer-to-peer fiat payments with the traditional banking system, SEPA and SWIFT, earlier next year.
Developers and Creators in the MultiversX Ecosystem
The new features also included tools for developers and creators to leverage the MultiversX ecosystem. The xPortal app already allows them to launch their products for users to download quickly, similar to Apple’s Appstore and Google’s PlayStore.
MultiversX’s Vision for Crypto
The conference has been conducted under a key vision: users want to leverage the technology, so crypto projects need to focus on security, scaling, and making accessible products. Rather than “Web3” or “Web4,” xPortal is about turning crypto into “money” available for anyone.
Sergius Biris on xPortal’s Vision
Sergiu Biris, Head of Product at xPortal, spoke to us during the event in an exclusive interview and shared the project’s vision. He stated that they aim to dissolve barriers between crypto and fiat because in their vision, money is just money. They want to make it easier for anyone to fulfill their financial needs through the app.
Hot Take: MultiversX Challenges Musk’s Metaverse Ambitions
In its rebranded form as MultiversX, the project showcased its native “SuperApp” xPortal at xDay 2023. With new features and advancements, MultiversX aims to compete with Elon Musk’s ambitions in the Metaverse. The team behind xPortal believes they have an advantage over Musk’s X as their product is already live and has over 1.5 million users. By providing social interactions, blockchain integration, and other features, xPortal offers a multifaceted digital experience. The conference highlighted the importance of accessibility and turning crypto into “money” for all users. Sergius Biris emphasized the goal of dissolving barriers between crypto and fiat to provide an unparalleled user experience.
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