Latest News

Flipkart Unveils Plans To Enter the Web 3.0 Space 

Flipkart is all set to enter the Web 3.0 space by unveiling their initiatives to launch a new immersive experience for the consumers through the Flipkart Labs. Under the Web 3.0 initiative, Flipkart is building technology solutions that will not only improve their business experience but also help push customer expectations to a new high. 

Under their Web 3.0 initiative, Flipkart will launch within the metaverse their retail outlets or store fronts. NFTs will also be their bandwagon to push the limits in their truly unprecedented digital experience. Gamification concepts will help drive engagement within the environment. The gamification can take various shapes like participating in games to avail special discounts at the storefront to experimenting with a lot of ideas to make the experience broader and satisfying. 

Naren Ravula, vice president and head, product strategy and deployment at Flipkart Labs has said, Web 3.0 is poised to play a strong role in India’s digital acceleration. He said the firm is committed to the growth of the e-commerce ecosystem in India and Web 3.0 leverages the best of the latest technology like blockchain for real-world use cases that can digitally transform businesses like ours.Some of the use-cases like immersive commerce, NFT-related use-cases and more are very promising.

He further added through the use of Web 3.0 and DLT, the company will be using innovations in product strategy and deployment to further uplift the user experience. At the same time, Flipkart is also looking forward to valuable collaborations with other Web 3.0 experts to further broaden the experience and push the limits forward. 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.