Flipkart in strategic pact with Polygon Companies

CHENNAI: Flipkart, India’s homegrown e-commerce marketplace, on Friday announced a strategic partnership with Polygon Companies, a developer of the leading Ethereum scaling protocol offering scalable, affordable, secure and sustainable blockchains for Web3.

The partnership will result in the setting up of a Blockchain-eCommerce Centre of Excellence (CoE) that will work on research and development of Web3 and metaverse commerce use-cases in India to accelerate the adoption of Web3.

This partnership comes amidst Flipkart’s many excursions in Web3 in recent times. Earlier this year, Flipkart announced Flipkart Labs, the innovation wing, to incubate various solutions to bring innovation to the e-commerce scene in India.

With Labs, Flipkart ventured into Web3 and Metaverse commerce to explore NFTs, Virtual Immersive stores, and other Blockchain-related use cases.

Since then, Flipkart has launched FireDrops, an easy-to-use NFT platform for brands to explore new horizons of community building and pivot the value of NFTs around utilities.

During the festive sale, Flipkart also partnered with eDAO to launch a virtual shopping experience in the metaverse - called Flipverse.

Flipverse enabled brands to organise unique product launches and create engaging experiences for users within a hyper-realistic, game-like environment.