To accelerate the adoption of Web3 in India, e-commerce giant Flipkart has teamed with Ethereum Layer-2 scaling company, Polygon. As part of the collaboration, the businesses will establish a “Blockchain-eCommerce Center of Excellence” (CoE) nationwide to conduct research and development on Web3 and Metaverse Ecommerce use cases.
“With the Center of Excellence (COE), we look forward to collaborating with Polygon technology and leveraging their expertise and technical ideologies in know-how to successfully onboard many users not just for the sake of the value proposition of Web3 experience or Metaverse Ecommerce but also Web3 in the general use case,” said Jeyandran Venugopal, the Chief Product and Technology Officer at Flipkart.
Many established, well-known companies, like Adidas, Adobe, Robinhood, and Stripe, have already decided to use Polygon as their Web3 entry point. Flipkart is future-proofing its investment in blockchain by becoming a part of this thriving ecosystem.
Flipkart has introduced a simple-to-use NFT platform called FireDrops to let companies explore community development and refocus the value of NFTs on utilities.
To explore Blockchain-related use cases such as virtual immersive stores and non-fungible tokens (NFTs), Flipkart Labs ventured into Web3 technology and metaverse commerce.
Flipkart and eDAO collaborated to launch “Flipverse,” a virtual shopping portal in the metaverse, during the holiday & festival sales.
Many of the largest firms in the world are entering Web3, with “Polygon” being the preferred blockchain partner. Sandeep Nailwal, the co-founder of Polygon, said: “Our objective is to attract billions of consumers to Web3; hence we are thrilled to work with Flipkart to develop the Blockchain-eCommerce Centre of Excellence.
“We see the Blockchain e-commerce Center of Excellence as the driving force behind the research & development of e-commerce in the upcoming years to come,” he added.
Flipkart made its entry into the metaverse in October with the launch of eDAO, an initiative incubated by Polygon.
The top-down connection between customers and companies was reoriented by the “Flipverse,” which promoted new forms of engagement and use cases through NFTs.