Flipkart and Web3 platform Polygon have entered a strategic partnership to set up a Blockchain-e-commerce Centre of Excellence (CoE) that will work on research and development of Web3 and metaverse commerce use-cases in India.
“With the CoE, we look forward to working with them and leveraging their expertise and technical knowhow to successfully onboard users not just to the value proposition of Web3 or Metaverse commerce but also Web3 in general,” said Jeyandran Venugopal, Chief Product and Technology Officer, Flipkart.
Venugopal said that innovation is one of the main pillars for Flipkart. “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.”
“Polygon’s mission is to bring the next billion users to Web3 and this partnership will pioneer research and development at the intersection of Web3 and experiential retail which will advance adoption and impact in India and across the world,” said Sandeep Nailwal, co-founder of Polygon.
Earlier this year, Flipkart had also announced that Flipkart Labs would 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 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.