Flipkart is gearing up to explore the potential of the metaverse by creating a shopping ecosystem for customers who cannot opt for retail shopping but want accuracy in their purchase selection. Indian e-commerce giant is all set to launch ‘Flipkart Metaverse’ which will bring together thousands of brands in the virtual universe. The Walmart-owned online shopping brand has incorporated eDAO to use its tools and resources to build the metaverse. The energy-efficient Polygon blockchain has been chosen to back up this metaverse.
Buyers will be able to try their apparel and footwear as a digital avatar in the Flipkart Metaverse. Some collections will also have NFT giveaways that will unlock special features and offers for their holders.
“Flipkart’s evolution of Metaverse is set to foster great partnerships, and thus enriched experiences for users to explore, leverage and interact with,” the company said in a press release.
The company has partnered with several brands to distribute limited time offers as prizes for early entrants to the Flipkart metaverse.
Metaverse is expected to stay in the market Allegedly Reach $800 billion (about Rs 59,58,700 crore) by 2024.
However, this is not the first time that the $ 11 billion (about Rs 87,900 crore) e-commerce firm is foraying into the Web3 sector.
Back in July, Flipkart partnered with new phone brand Nothing to launch the first NFT Drop for Nothing phone (1) buyers.
