Blockchain technology developer Elrond announced that it will redefine itself as a new brand with a focus on the metaverse.

Formerly known as Elrond, the company will move forward under the new name MultiversX with the introduction of three new metaverse products. xFabric, xPortal, and xWorlds are the three new tools behind the rebranding, all of which aim to help metaverse creators and users.

Tools include a metaverse portal, digital asset holder, creation utilities, and a deployable blockchain module.

Beniamin Mincu, the CEO of Elrond, told Cointelegraph that the new change of bands will benefit both digital and physical reality.

“We are now in a position to create a broader path to growth, adoption and usefulness, for the real world and the…