India’s Flipkart Partners Polygon to Develop Web3 and Metaverse Commerce Use Cases December 2, 2022 December 2, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 2, 2022 by Kelly Cromley

India’s Flipkart Partners Polygon to Develop Web3 and Metaverse Commerce Use Cases

Flipkart teamed with Ethereum-powered Blockchain platform Polygon on Friday to establish a centre of excellence (CoE) that would focus on Web3 and metaverse commerce application scenarios in India.

Still being in their infancy, decentralized technologies are not yet widely used. Nevertheless, the alliance would provide a chance to make a significant effect and fulfill the guarantee of Web3 for everyone, the firms stated in a joint declaration.

Flipkart’s Chief Product and Technology Officer, Jeyandran Venugopal, stated, “With the COE, we are thrilled to collaborate with Polygon and harnessing their skills and technical expertise to effectively onboard enthusiastic users not only to the value creation of Web3 or Metaverse commercial activity, but also Web3 in broad sense.”

Earlier in 2022, the e-commerce platform launched Flipkart Labs to foster innovative ideas for the nation’s e-commerce market. Flipkart forayed into Web3 and metaverse commercial activity with Labs in order to investigate non-fungible tokens (NFTs), digital immersive shops, as well as other Blockchain-linked use cases.

Flipkart has introduced FireDrops, a simple NFT platform that allows companies to look into community development and redirect the worth of NFTs towards utilities. During the Christmas sale, Flipkart teamed with eDAO to introduce Flipverse, a digital shopping adventure in the metaverse.

The objective is to attract the next billion consumers to Web3, according to Sandeep Nailwal, Co-Founder of Polygon, and “this cooperation will lead research and development at the convergence of Web3 and experiential retailing.”

He continued, “We view the Blockchain-eCommerce Centre of Excellence as a catalyst for the growth of e-commerce in the next years.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.