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Friday, December 8, 2023

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 broaden its choices portfolio from bodily gadgets to digital belongings as nicely. Initially, the ecommerce platform had chosen Polygon to launch its FireDrops initiative.

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

“Flipkart is tapping Polygon CDK to construct an Ethereum-based zero data (ZK) Layer 2 community devoted to the service and guarantee future development. It offers Flipkart quite a lot of customization choices, together with a fine-tuned onboarding expertise, devoted blockspace and low transaction charges for its customers. Future upgrades to Polygon CDK may even enable for enhanced privateness for transaction knowledge, the power to run the chain with no token or to make use of a central financial institution digital foreign money and entry to liquidity within the better Polygon and Ethereum ecosystems,” Polygon Labs wrote in an official weblog submit.

Arun Phillips, the Chief Advertising Officer at Polygon, introduced this improvement through the Polygon Join India occasion this week.

On the official web site of FireDrops, Flipkart says that current reward programmes really feel ‘complicated, 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 might have collected as a part of a model reward.

From thriller containers 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 method to provide 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.

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