The largest online retailer in India, Flipkart, collaborated with eDAO, a Polygon-incubated company, to introduce a virtual shopping environment in the Metaverse.
Due to increased blockchain and Metaverse experimentation by large local e-commerce companies, consumers in India now have more options for a digital buying experience.
In the gamified and participatory metaverse, Indian consumers can test out goods from companies like Puma and Nivea. That is due to the introduction of a metaverse area by local e-commerce behemoth Flipkart, which allows users to browse and shop for products in a photorealistic virtual location.
On October 17, Flipkart formally announced the introduction of Flipverse with the goal of combining the greatest aspects of online and offline purchasing.
With the goal of bringing customers closer to their favorite companies, Flipverse was developed in partnership with the Polygon-incubated company eDAO. It enables users to build a metaverse avatar and go shopping in a virtual environment. Brands will be able to generate and build their metaverse-ready digital twin in the virtual world at the same time.
Flipverse will promote one-of-a-kind digital collectibles in addition to hosting contests and special brand offers. The statement states that a variety of brands, including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, and others, would be featured on Flipverse. The new online shopping platform FireDrops from Flipkart will offer the new purchasing experience.
According to reports, the Flipverse offering is now in the experimental stage and seeks to generate interest throughout the holiday season this month. According to Flipkart’s release, the first phase pilot of Flipverse would be accessible for one week.
The Metaverse is one of the “major revolutions” in e-commerce, according to Naren Ravula, vice president of product strategy at Flipkart Labs, and it has enormous potential. We want to enhance customers’ virtual and immersive shopping experiences by giving them access to their chosen brands, deals, SuperCoins, and digital collectibles, said Ravula.
The world has just “just begun to scratch the surface of what’s conceivable in the metaverse,” according to Sandeep Nailwal, co-founder of Polygon.
and one of the “killer use cases” of the Metaverse is e-commerce.
One of the biggest e-commerce sites in India, Flipkart, has a reputation for using social media to make cryptic, loud remarks. Flipkart announced on Twitter last year that it would begin accepting Bitcoin (BTC tickers down $19,138) payments, but this turned out to be a hoax for April 1st.
There are other businesses in India experimenting with the Metaverse besides Flipkart. Tech Mahindra, an international technology company based in India, announced the launch of TechMVerse in February 2022 with the goal of providing clients with engaging and immersive experiences. The company was apparently working on up to 60 metaverse projects as of July 2022.