Flipkart And Polygon Team Up To Create R&D Centre For Web3, Metaverse Use Cases

The announcement came Flipkart's most recent venture into web3 and the metaverse. To establish a blockchain-ecommerce centre of excellence that will explore use cases for web3 and the metaverse, web3 company Polygon and online marketplace Flipkart have partnered.

Prior to its latest flagship festival season sale, it did the same for Flipverse, its interactive virtual shopping platform on the metaverse.

Sandeep Nailwal, co-founder of Polygon, stated that this most recent collaboration "will pioneer research and development at the intersection of web3 and experiential retail."

Flipkart's Chief Product and Technology Officer, Jeyandran Venugopal, stated in a statement that "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 expecting an official response from Flipkart regarding the proposed CoE's location and anticipated completion.

In addition to Flipverse, Flipkart's previous web3 and metaverse projects include Flipkart Labs, a web3 innovation division, and FireDrops, an NFT platform. According to a statement from the company, these projects will give users access to brands, digital collectibles, and supercoins. The brands that will be a part of Flipverse include Puma, Noise, and Nivea.

According to Sandeep, "We see the blockchain-ecommerce centre of excellence as an engine for the evolution of eCommerce in the years to come,"

An Indian blockchain platform called Polygon makes it possible for networks to connect and grow. It aspires to provide an Ethereum-compatible multi-chain blockchain environment. It derives its security from Ethereum and uses a Proof of Stake consensus technique for on-chain transaction processing.