Over the next three days, our Bitcoinist team will be covering xDay 2023, an event hosted by MultiversX at the Romanian Parliament Palace. Previously known as Elrond, the project rebranded in 2022 to focus on the Metaverse, one of the hottest trends in crypto.
During the event, the product manager of MultiversX Native xPortal “SuperApp” Sergius Biris introduced new features to expand the ecosystem. The project aims to add new users to the network by providing social interactions, a bridge to other blockchains, and more to compete with Elon Muk.
xPortal pursues Elon Musk’s ambitions
Since Musk acquired Twitter (renamed “X”) last year, the businessman has progressively tried to turn it into something more. The social media app allows users to receive suggestions, subscribe to their favorite content, and interact with non-fungible tokens.
These features highlight the relevance for users of operating with a single center. MultiversX and xPortal want to compete with Elon Musk by giving users access to these and other features announced during the conference, such as gamification, metaverse access, and NFTs to provide a “multifaceted digital experience.”
In contrast to the attempts by
Furthermore, MultiversX has a vision to eliminate all friction by incorporating its ecosystem. Therefore, xPortal announced a new cryptocurrency activation and deactivation capability and a feature that allows users to exchange their tokens.
For European users, xPortal will enable peer-to-peer fiat payments with the traditional banking system, SEPA and SWIFT, early next year. During the conference, Biris stated:
The features released today, particularly debit cards, were a long time in the making. Today’s launch elevates xPortal from a crypto wallet to a financial super app. In this way, we create a bridge to an interconnected future where the lines between cryptocurrencies, fiat and emerging technologies like ai dissolve, delivering an unparalleled user experience.
The new features also included tools for developers and creators to take advantage of 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 PlayStore.
Convert Web3 and cryptocurrencies into “money”
The conference was held under a key vision: users want to take advantage of technology, so crypto projects should focus on security, scalability, and making accessible products. Instead of “Web3” or “Web4”, xPortal is about turning cryptocurrencies into “money” available to anyone.
Sergiu Biris, Head of Product at xPortal, spoke to us during the event in an exclusive interview and shared the vision of the project:
They have to be able to do anything, whether it’s crypto or fiat, they don’t have to think about Blockchain, it’s this, blockchain is not money. We are trying to dissolve those barriers between cryptocurrencies and fiat currencies because, in our vision, money is 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.
MultiversX cover image, Tradingview chart
