Share this article
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.
Updated May 9, 2023, 4:01 a.m. Published Nov 4, 2022, 12:07 p.m.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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.
Read more: Opera's Crypto Browser to Add Support for Elrond After Roping In Eight Other Blockchains
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
A16z Crypto to Open Seoul Office, Hire Sungmo Park to Lead Asia Efforts
Andreessen Horowitz's crypto venture capital unit pointed to high levels of crypto ownership in South Korea and Singapore, and growing onchain activity in Japan.
What to know:
- Venture fund a16z crypto is opening its first office in Asia, located in Seoul, and named Sungmo Park to lead it.
- The Seoul office aims to build partnerships and accelerate community growth across the region.
- South Korea's active onchain community and developer ecosystem probably influenced the fund's decision to choose Seoul over other Asian financial hubs.
Top Stories
