The web3 platform polygon technology and the E-Commerce unicorn Flipkart announced a strategic partnership to speed up metaverse and web3 adoption in e-commerce, with the help of a center of excellence to work on the research and development of e-commerce use cases in India.
“With the CoE, we look forward to working with them and leveraging their expertise and technical know-how to successfully onboard users not just to the value proposition of web3 or metaverse commerce but also web3 in general,” said Jeyandran Venugopal, the Chief Product, and Technology officer at Flipkart.
Venugopal said that Flipkart considers innovation as one of the primary pillars of development. “We have consistently worked towards technology solutions to scale new frontiers and introduce new products. We are delighted to partner with polygon, a company at the forefront of blockchain innovation, nationally and internationally.“
The partnership is to accelerate web3 Adoption in India, and it will create an opportunity to deliver a large impact on the promise of web3 for all, the company stated. Sandeep Nailwal, the co-founder of Polygon, said, “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.”
He added,” We see the blockchain E-commerce Centre of Excellence as an engine for the evolution of e-commerce in the years to come.” Earlier in 2022, Flipkart announced that Flipkart Labs would incubate solutions to innovate the E-Commerce scenario in India.
Since then, Flipkart launched FireDrops, an easy-to-use non-fungible token platform for brands to present opportunities for exploring new horizons of community building and utilizing the value of NFTs around utilities. Naren Ravula, the Vice-president and Head of Product Strategy at Flipkart, said, “The partnership brings expertise from the world of e-commerce and Blockchain and lays the foundation for innovation at a protocol, platform, and product-level for decentralized e-commerce in India, especially through brand collaborations and initiatives like 3D storefronts, novel NFT drop mechanisms, trustless standards for commerce, on-chain loyalty, and play-to-earn experiences.”