Flipkart Groups with Polygon to Scale Web3 Loyalty Programme FireDrops

Flipkart is seeking to dive deeper into its Web3 initiative FireDrops, and to take action, the ecommerce big has partnered with the Polygon blockchain community. Utilizing Polygon’s CDK-deployed Layer 2 chain, Flipkart plans to spice up its Web3 loyalty programme. Launched earlier this yr, Flipkart needs to increase its choices portfolio from bodily objects to digital belongings as effectively. Initially, the ecommerce platform had chosen Polygon to launch its FireDrops initiative.

With FireDrops, Flipkart is attempting to present a brand new twist to its methods to ramp up consumer engagements on its platform. A number of manufacturers promoting their merchandise on Flipkart are incentivising model loyalty via gamification, giving their customers brisker experiences of being rewarded via digital goodies somewhat than bodily ones.

“Flipkart is tapping Polygon CDK to construct an Ethereum-based zero information (ZK) Layer 2 community devoted to the service and guarantee future development. It offers Flipkart quite a few customization choices, together with a fine-tuned onboarding expertise, devoted blockspace and low transaction charges for its customers. Future upgrades to Polygon CDK can even permit for enhanced privateness for transaction information, the flexibility to run the chain with out a token or to make use of a central financial institution digital forex and entry to liquidity within the larger Polygon and Ethereum ecosystems,” Polygon Labs wrote in an official blog post.

Arun Phillips, the Chief Advertising Officer at Polygon, introduced this growth in the course of the Polygon Join India occasion this week.

On the official website of FireDrops, Flipkart says that present reward programmes really feel ‘advanced, boring, and damaged’.

Since its launch earlier this yr, FireDrops has managed to generate 3.3 million wallets holding a minimum of one NFT that the customers could have collected as a part of a model reward.

From thriller bins and particular badges to low cost advantages, early accesses, and freebies – the FireDrops reward programme additionally lets customers earn from shopping for and promoting rewards. That is what Flipkart is advertising and marketing as ‘the way forward for rewards’.

Internationally, a number of different manufacturers are additionally taking an immersive, digital strategy to present their rewards programmes a Web3 twist and usher-in a brand new period of buyer engagement. These manufacturers embrace Starbucks, Lufthansa Airways, and attire model Lacoste amongst others.