Flipkart Groups with Polygon to Scale Web3 Loyalty Programme FireDrops

Flipkart is trying to dive deeper into its Web3 initiative FireDrops, and to take action, the ecommerce large 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 12 months, Flipkart needs to develop 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 making an attempt to present 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 more energizing experiences of being rewarded by digital goodies reasonably 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 provides Flipkart 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 can even permit for enhanced privateness for transaction knowledge, the power to run the chain with out a token or to make use of a central financial institution digital foreign money and entry to liquidity within the higher Polygon and Ethereum ecosystems,” Polygon Labs wrote in an official blog post.

Arun Phillips, the Chief Advertising and marketing Officer at Polygon, introduced this improvement through 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 12 months, FireDrops has managed to generate 3.3 million wallets holding at the very least one NFT that the customers could 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 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.