September 18, 2020
min read

Virtual Reality Content Platform Dvision Network to Add eGold as Currency and Work With Elrond Smart Accounts for True NFT Ownership & Maiar Integration

We’re excited to announce that the virtual reality content platform Dvision Network will enable eGold as currency in their digital marketplace. Furthermore, our new partner is exploring using Elrond Smart Accounts for true Non-Fungible Tokens ownership. Dvision is developing a blockchain-based virtual reality platform for games, events & business.

The collaboration will initially focus on making eGold spendable inside of the virtual world created by Dvision, enabling users to pay for items, property & services using our native token.

Elrond will also get support from Dvision to maintain a relevant presence in the exhibitions and conferences to be organized in our partner’s virtual world.

“The proliferation of virtual reality content will act as a catalyst for Elrond adoption, thanks to our innovations around true token ownership and inexpensive transfers. We’re excited to work with Dvision Network to enable such attractive scenarios for their users.” said Beniamin Mincu, Elrond CEO.

The long term collaboration will explore utilizing Elrond’s Smart Accounts and tokens. Elrond accounts each have a data trie that enables key-value storage, making them akin to a smart contract without execution code, hence Smart Accounts. Elrond tokens can thus be directly owned by an account, instead of simply being associated with it in a smart contract, like it happens on other platforms.

This level of integration will enable Dvision Network users true ownership of their Elrond based digital assets, which will also be transferable using the Maiar app at native protocol costs, making it possible for 1,000 token transactions to be done with just $1.

“Elrond’s strong token economy makes eGold an attractive currency for our users, and we expect existing eGold holders to join our ranks as well. We’re excited about the long term prospects of lowering our operational costs for ourselves and our users, thanks to Elrond’s tech and approachable development toolkit” said Jeong-Hyun Eom, Dvision CEO.

The collaboration is important for the Elrond ecosystem because the eGold token gains additional utility as an official currency in the Dvision virtual space. More importantly, Elrond’s innovations around blockchain accounts and tokens, empowered by the Maiar app, will open a new avenue for conveniently interacting with digital spaces, assets, and services.

Additional information:

About Elrond

Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

About Division Network

Division Network enables online-based offline services (O2O) in various industries by combining VR and blockchain technology. It lowers the barrier to entry so that users can easily experience the virtual reality world, and provides an environment in which users can build a new virtual reality world that is interconnected.

Author Profile Picture
Beniamin Mincu
Co-founder & CEO

Beniamin Mincu, the co-founder & CEO of MultiversX, is a distinguished tech visionary and one of Europe's early blockchain pioneers. With a notable background as Product & Business at Nem Core in 2014, he subsequently founded and led MetaChain Capital as its CEO. Beniamin continues to shape the future of technology and blockchain with his unwavering vision and leadership.

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Author Profile Picture
Beniamin Mincu
Co-founder & CEO
Published on
September 18, 2020
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