Over the next three days, our NewsBTC team will be covering xDay 2023, an event organized by MultiversX at the Palace of Parliament, Romania. Formerly known as Elrond, the project was rebranded in 2022 and focused on the Metaverse, scalability and global adoption by simplifying users’ access to crypto.
Summary of the MultiversX event, day 2
In the early hours, MultiversX CEO and co-founder Beniamin Mincu announced a partnership with major tech giant Google Cloud. The company promised to help the community of MultiversX builders, and Google Cloud will secure all data on this blockchain.
The community celebrated the announcement, followed by other major partnerships, including Axelar, to improve interoperability with Telekom, which will become a validator for MultiversX.
Other representatives from major tech companies, from Amazon Cloud to Deloitte and Tecent, spoke at 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 of Binance Labs and Danilo Carlucci of 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 ability to gather a large crowd during a bear market and with the partnerships announced throughout the day. The sentiment was optimistic about the future of blockchain and crypto.
#MultiversXthe blockchain technology built for large-scale solutions.
A combination of AI, Big Data, Gaming, the Metaverse and more.
Everything is unfolding at an unprecedented speed. pic.twitter.com/eh431p4x8R
— MultiversX (@MultiversX) October 20, 2023
Interview with Sunny Aggarwal, co-founder of Osmosis Labs
During the event, we spoke with Sunny Aggarwal, co-founder of Osmosis Labs, the company behind the decentralized protocol running on Cosmos. The DEX, one of the most prominent decentralized finance protocols (DeFi) in this ecosystem, has processed more than $3 billion in trading volume, according to figures. facts from Tokenterminal.
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 an “unofficial” external advisor ever since. During the interview, the Cosmos co-founder spoke about the passion and drive behind MultiversX.
Speaking about the factor that sets MultiversX apart from other blockchains, he mentioned their flagship product, xPortal. The “SuperApp” aims to offer users finance, social interactions and payments, all using a single app. Aggarwal said:
I actually think xPortal was a big one. I remember they showed me that it wasn’t called xPortal at the time. It had a different name but when they showed it to me in 2020. At the time it was the best mobile wallet I’ve seen. I think about the work they’ve done around the UX and when you log in you’re immediately given a username. And I think they understood very early on how to do the UX. So I think that’s a very interesting one (…).
During the event, the MultiversX team attempted to remove ‘Web 3’, ‘crypto payments’ and similar words from their story. The team believes that only ‘web’ or ‘money’ is a better message for users. Aggarwal agrees with the message, which is strongly focused on adoption:
I don’t think users care how the technology works. I think they care what it does, but they also want to know: telling someone something is a cryptocurrency isn’t what it’s about, 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 offers you without necessarily having to know it (the technology).
Cover image from MultiversX, chart from Tradingview