Flipkart and Polygon Partner to Accelerate Web3 and Metaverse Commerce in India

Flipkart and Polygon Partner to Accelerate Web3 and Metaverse Commerce in India

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The Indian eCommerce giant, Flipkart, and Web3 pioneer, Polygon, have formed a strategic alliance to establish a Blockchain-eCommerce Centre of Excellence (CoE) in India to conduct research and development for Web3 and metaverse commerce use-cases.

The company is eager to collaborate with Polygon under the CoE and take advantage of its knowledge and skills to successfully onboard users to more than just the value proposition of Web3 or Metaverse commerce.

“We have consistently worked towards technology solutions to scale new frontiers and introduce new products and services. We are delighted to partner with Polygon, a company at the forefront of blockchain innovation, nationally and internationally,” said Jeyandran Venugopal, Chief Product and Technology Officer at Flipkart.

The partnership, which aims to power Web3 adoption in India, will present an opportunity to make a significant impact and fulfill Web3’s promise to everyone, according to a statement from the company.

This partnership aims to lead research and development at the nexus of Web3 and experiential retail, which will progress adoption and impact in India and globally. Polygon’s mission is to bring the next billion users to Web3.

“We see the Blockchain-eCommerce Centre of Excellence as an engine for the evolution of e-commerce in the years to come,” said Sandeep Nailwal, co-founder of Polygon.

Flipkart also revealed earlier this year that Flipkart Labs would incubate several solutions to inject innovation into the Indian e-commerce market. Flipkart entered Web3 and Metaverse commerce with Labs to explore NFTs, Virtual Immersive stores, and other Blockchain-related use cases.

Since then, Flipkart has introduced FireDrops, a user-friendly NFT platform that allows businesses to explore new possibilities for community building and refocus NFTs’ value on utilities.

Additionally, during the holiday sale, Flipkart and eDAO collaborated to launch Flipverse, a virtual shopping experience in the metaverse. The new offering allowed brands to plan original product launches and create engaging user experiences in a highly realistic, game-like setting.

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