Flipkart, Polygon partner to set up blockchain e-commerce centre

Hyderabad Flipkart, homegrown e-commerce marketplace on Friday announced partnership with Polygon Companies, a developer of Ethereum scaling protocol. With this partnership in place, a blockchain e-commerce Centre of Excellence (CoE) will be set up.

The centre will work on research and development of web3 and metaverse commerce use-cases in India, to accelerate the adoption of web3.

"We are pleased to partner with Polygon, a company that is at the forefront of blockchain innovation, nationally and internationally. With the CoE, we look forward to 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," Jeyandran Venugopal, Chief Product and Technology Officer of Flipkart said.

Earlier this year, Flipkart announced Flipkart Labs, its innovation wing to incubate solutions bringing innovations to e-commerce in India. With Labs, Flipkart ventured into web3 and metaverse commerce to explore NFTs, virtual immersive stores, and other blockchain-related use cases. Since then, Flipkart has launched FireDrops, a NFT platform for brands to explore new horizons of community building and pivot the value of NFTs around utilities. During the festive sale, Flipkart also partnered with eDAO to launch a virtual shopping experience in the metaverse, called Flipverse.

Sandeep Nailwal, co-founder, Polygon said, "We are excited to partner with Flipkart to create the Centre of Excellence. 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. We see the blockchain e-commerce Centre of Excellence as an engine for the evolution of e-commerce in the years to come."

Polygon Companies offers scalable, affordable, secure and sustainable blockchain for Web3.