MultiversX (formerly Elrond), is an L1 blockchain that facilitates an entire ecosystem of dApps, games, and NFTs. It holds a position among the top 30 largest chains on DeFiLlama, with approximately $100 million in DeFi TVL.
One of the key attractions of MultiversX for NFT projects is the native ESDT token standard, which eliminates the need to create and deploy separate smart contracts for each collection. This streamlined approach simplifies the creation of NFTs.
MultiversX was one of the first blockchains integrated with the XP.NETWORK NFT bridge. Its scalability, security, and low fees make Elrond an ideal choice for metaverse projects, offering developers a seamless user experience through ESDT tokens.
Moreover, MultiversX aligns with Web3's sustainability goals, being a 100% carbon-neutral blockchain. Additionally, through a partnership with Visa and MasterCard, MultiversX enables the acceptance of fiat payments using the xMoney Fiat tool.
The project's vision is to establish a "bridge between worlds," which likely refers to its role at the intersection of various virtual worlds or metaverses. Notably, the name "MultiversX" intentionally excludes the letter 'e' and reflects the network's positioning.