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Elrond Launches 3 New Metaverse Products, Transforms into MultiversX

Sibiu, Romania, 4th November, 2022, Chainwire Elrond, the startup building internet scale blockchain technology, announces its transformation into MultiversX. This expansion of the company’s mission to build the new internet economy includes the digital meta-space frontier. The metaverse-forward company introduces 3 new products to serve as pillars of its evolution. xFabric is a sovereign blockchain…

Sibiu, Romania, 4th November, 2022, Chainwire

Elrond, the startup building internet scale blockchain technology, announces its transformation into MultiversX. This expansion of the company’s mission to build the new internet economy includes the digital meta-space frontier.

The metaverse-forward company introduces 3 new products to serve as pillars of its evolution.

xFabric is a sovereign blockchain module, and core blockchain applications. It can be deployed in minutes. Fully customizable. It includes a wide range of features and uses cases that can be used for any company, brand, or creative idea.
xPortal is a true SuperApp. Portal to the Metaverse. Your avatar’s home. Finance everything A debit card. Chat, social and friends. Anyone can access it, no matter where they are located.
xWorlds is a world creation engine. It allows for interoperable metaverse universes. Start with the first world. Improbable has developed xWorlds, a platform that allows for unprecedented new experiences. It is fully integrated with xPortal (xFabric)

“Incredible amounts of creative energy are being poured into multiple compelling metaverse visions.” said Beniamin Mincu, CEO and founder of MultiversX (formerly Elrond Network). “MultiversX is building the collaborative framework and composable toolkit to set up the stage for a positive sum game of enormous stakes. For reimagining the entire spectrum of human experience and for reinventing the frontend of every business vertical.”

MultiversX will continue to build on the remarkable success of the Elrond Network, technology, community and ecosystem. It will continue to develop the revolutionary scalable blockchain protocol, tools and mission to proliferate Web3 technology.

Furthermore, it will expand and broaden the original scope and create the unique opportunity for its millions of users and vibrant ecosystem to lead the once-in-a-generation societal shift towards the metaverse.

The momentous transformation will unfold over a 3 day event at the Brongniart palace in Paris, where Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications, Sebastian Burduja, Romanian Minister of Research, Innovation, and Digitalization, and important Industry leaders from finance, blockchain, Web3 and the Metaverse, will be introduced to the broadened MultiversX scope, products and path forward.

https://multiversx.com

Contact

Head of Marketing, Dan Voicu, MultiversX, [email protected], +40 (742) 684 900

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The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for DeFi purposes. The bridged Bitcoin, called Teleport BTC, will maintain the original Bitcoin’s security while allowing holders to take advantage of the growing opportunities on TON.

According to the Foundation, each Teleport BTC will be backed 1:1 by native Bitcoin via a trustless, transparent process chiefly executed by verifiable smart contracts and validators.

This new development aims to “enhance Bitcoin’s utility, transforming it into a powerful tool for generating additional rewards on TON.”

TON’s Growth in 2024

The Open Network, closely linked with the popular Telegram messaging app, has been on an upward climb in 2024 both in price and network development. The network was initially created by the Telegram team for internal use but was abandoned and eventually picked up by the community.

TON made major waves after Telegram re-established contact by using the network to power its ad reward system, which pays channel owners in TON (the network’s native cryptocurrency) for traffic and views.

Outside of Telegram, TON is making a name for itself as a social gaming chain with tap-based casual projects like Notcoin and Hamster Kombat garnering attention.

TON’s Growing DeFi Ecosystem

While TON is not primarily known as a network for decentralised finance, its DeFi ecosystem has witnessed a boom in recent months. According to Defillama, a leading on-chain finance data provider, the total value locked on TON currently stands at $745.96 million as of writing after rising significantly from $22 million at the end of February 2024.

The Open Network plans to launch the Teleport BTC bridge later this year.

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First ETP for Near Protocol’s NEAR token unveiled on Sweden’s Spotlight Stock Market

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market. Valour currently operates one of the largest Solana ETPs. The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs. Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR. This groundbreaking ETP will be…

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market.
Valour currently operates one of the largest Solana ETPs.
The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs.

Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR.

This groundbreaking ETP will be available on Sweden’s Spotlight Stock Market, offering retail and institutional investors the opportunity to gain exposure to the decentralized application development platform.

NEAR ETP joins Valour’s diverse portfolio of ETPs

Valour already operates one of the largest Solana ETPs, Valour Solana, and offers a suite of staking products, including ETPs for Bitcoin, Ether, and Internet Computer.

Valour’s head of product, Elaine Buehler, emphasized the significance of this new fund, highlighting its potential to grant investors access to an asset renowned for its transformative impact on decentralized finance (DeFi) and non-fungible tokens (NFTs).

Near Protocol, designed to tackle common blockchain development challenges such as user onboarding and multi-chain operations, boasts a market capitalization of approximately $6.8 billion. This positions NEAR among the top 20 digital assets globally, according to CoinMarketCap.

The launch of NEAR ETP comes amid a wave of regulatory approvals in the United States, where investment managers BlackRock, Franklin Templeton, and VanEck recently received preliminary approval to list the first exchange-traded ETH products. Analysts predict this move will pave the way for more crypto exchange-traded products in the US, including potential Solana-based ETFs.

Valour’s parent company, DeFi Technologies, currently manages around $600 million in assets across various crypto-native strategies.

On July 16, DeFi Technologies expanded its footprint by acquiring trading desk Stillman Digital in an all-stock deal. This acquisition is expected to significantly enhance the Canadian crypto platform’s capabilities, potentially positioning it as a formidable competitor to larger entities like Galaxy Digital.

Valour’s new NEAR ETP represents a significant advancement for investors seeking exposure to innovative blockchain technologies, reinforcing the firm’s position at the forefront of digital asset investment products.