MultiversX Unveils New Features at xDay 2023 Event
Bitcoinist will be covering the upcoming xDay 2023 event organized by MultiversX in Romania. Formerly known as Elrond, MultiversX rebranded in 2022 to focus on the Metaverse, a popular trend in the crypto industry.
At the event, Sergius Biris, the head of product for MultiversX’s native “SuperApp” xPortal, announced new features aimed at expanding the ecosystem. The project aims to attract new users by offering social interactions, interoperability with other blockchains, and more to compete with Elon Musk.
xPortal Challenges Elon Musk’s Ambitions
Elon Musk has been trying to transform Twitter into something more since acquiring it last year. The social media platform now allows users to receive tips, subscribe to content, and interact with non-fungible tokens (NFTs).
MultiversX and xPortal aim to compete with Musk by providing users with access to similar features, including gamification, access to the metaverse, and NFTs. They believe their critical advantage is that xPortal is already live and has over 1.5 million users interacting with the MultiversX ecosystem.
In addition, xPortal announced new features to enhance user experience, such as fiat-to-crypto on and off-ramping capabilities and token swapping. European users will also have access to peer-to-peer fiat payments through traditional banking systems next year.
“The features launched today, most notably the debit cards, were a long time in the making. Today’s launch elevates xPortal from a crypto wallet to a financial super app. We thus created a bridge to an interconnected future where the lines between crypto, fiat, and emerging technologies like AI dissolve, bringing an unparalleled user experience,”
The xPortal app also offers tools for developers and creators to launch their products quickly, similar to Apple’s App Store and Google’s Play Store.
Turning Crypto into “Money”
The xDay 2023 event emphasizes the importance of security, scaling, and accessible products in the crypto industry. xPortal’s goal is to make crypto as accessible as traditional money for anyone.
In an exclusive interview with Sergiu Biris, Head of Product at xPortal, he shared the project’s vision:
“They have to be able to do anything, whether it’s crypto or fiat, they don’t have to think about Blockchain is this, blockchain is not money. We are trying to dissolve those barriers between crypto and fiat because in our vision, money, it’s just money. And that’s why we want to make it easier for anyone to do whatever they need in terms of financial needs through the app.”
Cover image from MultiversX, chart from Tradingview
Hot Take: MultiversX Challenges Elon Musk in the Metaverse Race
MultiversX’s xDay 2023 event showcased their determination to compete with Elon Musk in the race for dominance in the Metaverse space. With its live xPortal app and a growing user base of over 1.5 million users, MultiversX aims to provide a multifaceted digital experience that rivals Musk’s efforts.
The new features announced during the event, including social interactions, interoperability with other blockchains, and access to NFTs, demonstrate MultiversX’s commitment to attracting new users and creating an interconnected future. By dissolving the barriers between crypto and fiat, xPortal aims to make cryptocurrency as accessible as traditional money for everyone.
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