Flipkart partners with Polygon to build R&D centre for web3, metaverse use cases

Ecommerce marketplace Flipkart has partnered with web3 firm Polygon to set up a blockchain-ecommerce centre of excellence that will research web3 and metaverse use cases.

Flipkart teamed up with the Ethereum scaling protocol previously as well for Flipverse, its interactive virtual shopping platform on the metaverse, ahead of its flagship festival season sale recently.

This latest partnership, according to Polygon Co-founder Sandeep Nailwal, “will pioneer research and development at the intersection of web3 and experiential retail.”

In a statement released by the company, Jeyandran Venugopal, Chief Product and Technology Officer at Flipkart, said, “the online marketplace will look to leverage Polygon’s “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.”

The Decrypting Story is awaiting an official comment from Flipkart on the location of the proposed CoE and its estimated time of completion.

Flipkart’s earlier web3 and metaverse ventures include Flipkart Labs, a web3 innovation wing, and FireDrops, an NFT platform, apart from Flipverse.

Flipverse will enable access to brands, digital collectibles, and supercoins, as per a statement by the company. Brands including Puma, Noise, and Nivea will be part of Flipverse.

“We see the blockchain-ecommerce centre of excellence as an engine for the evolution of ecommerce in the years to come,” said Sandeep.