In the next three days, our team at Bitconist will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, scalability, and global adoption by simplifying users’ access to crypto.

In the early hours, the CEO and Co-Founder of MultiversX, Beniamin Mincu, announced a partnership with big tech giant Google Cloud. The company pledged to help the community of MultiversX builders, and Google Cloud will secure all data running on this blockchain.

The community celebrated the announcement, followed by other major partnerships, including Axelar, to improve its interoperability with Telekom, which will become a validator for MultiversX.

Other representatives from big tech companies, from Amazon Cloud to Deloitte and Tecent, spoke during the event about Gaming, ways to drive growth and adoption, and the convergence of Gaming, the Metaverse, and Web3.

From the crypto space, Alex Odagiu from Binance Labs and Danilo Carlucci from Morningstar Ventures discussed the importance of data and the different ways crypto investors use it to make investments during bull and bear markets.

Overall, attendees were impressed with the event’s capacity to gather a big crowd during a bear market and the partnerships announced throughout the day. The sentiment was optimistic about the future of blockchain and crypto.

#MultiversX, the blockchain tech built for large-scale solutions.

Combining AI, Big Data, Gaming, the Metaverse and beyond.

All unfolding at unprecedented speed. pic.twitter.com/eh431p4x8R

— MultiversX (@MultiversX) October 20, 2023 

During the event, we got to chat with Sunny Aggarwal, a co-founder at Osmosis Labs, the company behind the decentralized protocol running on Cosmos. One of the most prominent decentralized finance (DeFi) protocols in this ecosystem, the DEX has processed over $3 billion in trading volume, according to data from Token Terminal.

Aggarwal is a validator for MultiversX, the “only non-Cosmos” network he validates. In an interview with our team, the Osmosis Co-Founder spoke about the early days of MultiversX, when the project was known as Elrond Network.

Aggarwal was one of the first to see the Elrond (MultiversX) Whitepaper and has been helping as a “non-official” external consultor ever since. During the interview, the Cosmos Co-Founder spoke about the passion and the drive behind MultiversX.

Speaking about the factor that makes MultiversX stand out from other blockchains, he mentioned their flagship product, xPortal. The “SuperApp” tries to offer users finances, social interactions, and payments, all using a single app. Aggarwal said:

I actually think xPortal was a big one. I remember they showed me, it wasn’t called xPortal back then. It had a different name, but when they showed it to me back in 2020. At the time, it was the best mobile wallet I’ve seen. I think the work that they did around the UX and when you log in, you get a username right away. And I think that they were very early on understanding how the UX has to be done. So I think that’s a very big interesting (…).

During the event, the team at MultiversX has been trying to remove “Web 3,” “crypto payments,” and similar words from their narrative. The team believes just “Web,” or “money,” is a better message for the users. Aggarwal agrees with the message, which heavily focuses on adoption:

I think the users don’t care about how the technology works. I think they care about what it does, but also they want to know, telling someone something is a cryptocurrency is not what matters, what matters is telling them it’s secure from hacks or that it’s private. That’s what matters, right? You have to sell the features that cryptocurrency gives you without necessarily having to know (the technology).

Cover image from MultiversX, chart from Tradingview

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