Flipkart is trying to dive deeper into its Web3 initiative FireDrops, and to take action, the e-commerce big has partnered with the Polygon blockchain community. Utilizing Polygon’s CDK-deployed Layer 2 chain, Flipkart plans to spice up its Web3 loyalty program. Launched earlier this 12 months, Flipkart can also be trying to develop its providing portfolio from bodily objects to digital property. Initially, the e-commerce platform had chosen Polygon to launch its FireDrops initiative.
With FireDrops, Flipkart is making an attempt to provide a brand new twist to its methods to extend person engagement on its platform. A number of manufacturers that promote their merchandise on Flipkart encourage model loyalty by gamification, giving their customers brisker experiences of being rewarded by digital treats quite than bodily ones.
āFlipkart makes use of Polygon CDK to construct an Ethereum-based Zero Information (ZK) Layer 2 community devoted to the service and guarantee future development. It provides Flipkart a spread of customization choices, together with a fine-tuned onboarding expertise, devoted block area and low transaction charges for its customers. Future upgrades to the Polygon CDK can even permit for improved transaction information privateness, the power to run the chain with no token or use a central financial institution digital forex, and entry to liquidity within the bigger Polygon and Ethereum ecosystems,” Polygon Labs wrote in an official weblog publish.
Arun Phillips, Chief Advertising and marketing Officer at Polygon, introduced this growth in the course of the Polygon Join India occasion this week.
On the official FireDrops web site, Flipkart says that current rewards applications really feel ‘advanced, tedious and damaged’.
Since launching earlier this 12 months, FireDrops has managed to generate 3.3 million wallets with a minimum of one NFT that customers could have collected as a part of a model reward.
From thriller bins and particular badges to low cost advantages, early entry and freebies, the FireDrops rewards program additionally lets customers earn by shopping for and promoting rewards. That is what Flipkart is advertising and marketing because the ‘way forward for rewards’.
Internationally, a number of different manufacturers are additionally taking an immersive, digital strategy to provide their rewards applications a Web3 twist and usher in a brand new period of buyer engagement. These manufacturers embody Starbucks, Lufthansa Airways and the clothes model Lacoste, amongst others.