One of the biggest e-commerce sites in India, Flipkart, on Monday announced the launch of Flipverse, a metaverse environment where users can buy in a photorealistc virtual destination.
Using the web3 technology offered by the Polygon-incubated firm eDAO, Flipverse will allow users access to brands, Supercoins, & digital collectibles. Possibly India’s most well-known cryptocurrency startup is Polygon.
According to Flipkart, the goal of the launch is to ‘flip’ the shopping narrative.
“The launch of Flipverse will continue to impact innovative industries such as e-commerce and improve customer experiences while providing a gamified and immersive shopping experience, especially the adoption of Metaverse and Web3 platforms by various brands in India,” said Naren Ravula, Vice President and Director of Product Strategy and devlopment at Flipkart Labs, said.
With the help of Flipverse, a variety of brands will be able to develop original product launches that will attract users. According to Flipkart, participating brands for this edition include Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, Himalaya, & Butterfly India.
The company announced that Flipverse will be accessible through FireDrops, a newly launched platform that can be accessed through the app of the e-commerce marketplace Flipkart.
Phase one of Flipverse is exclusive to Android devices and will go live on October 17 for one week. According to Flipkart, the goal is to introduce the future of shopping to millions of people through Flipverse.
Metaverse is a hyper-immersive virtual world with a rising value. By 2030, the market is estimated to be worth $1.3 billion.
We see e-commerce as one of the killer use cases, despite the fact that we have only just begun to scratch the surface of what is possible in the metaverse. Top brands and Flipkart’s e-commerce know-how combined in a virtual environment has the potential to revolutionise online retail as we now understand it, according to Polygon co-founder Sandeep Nailwal.
“Flipverse can gradually uncover a lot of value over-time, but for Diwali, we just optimised for joy. Anand Venkateswaran, CEO of eDAO, said it was an honour for his company to contribute both creative and technical heft to Flipkart’s mission.
Flipkart joined the web3 market in July of this year by partnering with Nothing phone and introducing special benefits for users through “Nothing NFT drops.”
Recently, Flipkart and eDAO teamed up to design a digital treasure hunt for Flipkart’s Big Billion Days Sale.