Flipkart X Polygon: A Strategic Partnership To Build The Indian Web3 Landscape The e-commerce giant in a race to overtake rival Amazon is welcoming metaverse and its players with open arms

By Paromita Gupta

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

Polygon, a blockchain platform, on Friday announced its strategic partnership with the e-commerce giant Flipkart to develop the foundation of Blockchain-Ecommerce Centre of Excellence.

Jeyandran Venugopal, Chief Product and Technology Officer at Flipkart said "Innovation is one of the main pillars for Flipkart and we have consistently worked towards technology solutions to scale new frontiers and introduce new products and services. We are delighted to partner with Polygon, a company that is at the forefront of blockchain innovation, nationally and internationally."

The year has been fruitful for the Walmart-owned company as, in October 2022, it announced partnering with eDAO, a media and entertainment decentralized autonomous organization, to bring its customers a Virtual Shopping Experience called Flipverse. Brands including the likes of Puma, Noise, VIP, Nivea, and Himalaya have set up their experience theatres on the platform. eDAO was incubated under Polygon itself.

Additionally, it launched FireDrops, a user-friendly NFT platform for users to discover and experience the web3 element.

The race to get a first movers advantage in e-commerce has pitted Amazon and Flipkart against each other. For the festive season of 2022, Amazon came up with a physical IP #AmazonMetaWorld to provide a gamified experience to its users across five cities.

Earlier this week, Phantom, a Solana focused wallet, announced its move to develop a Polygon wallet. In October, the company announced the Polygon zkEVM Public Testnet, a zero knowledge rollup.

"Polygon is the go-to blockchain for the world's biggest companies entering Web3. Our mission is to bring the next billion users to Web3, so we are excited to partner with Flipkart to create the Blockchain-eCommerce Centre of Excellence," said Sandeep Nailwal, co-founder of Polygon on the partnership move.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 

Related Topics

Business Ideas

55 Small Business Ideas to Start in 2023

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023.


If You Want People to Follow You, Stop Being a Boss — 8 Steps to Truly Effective Leadership

Understand the key differences and embark on the journey from boss to leader with these eight vital steps. This article unveils how to inspire and lead teams with passion and purpose.

Business News

Photos Leak of McDonald's New Space Age Spinoff Restaurant 'CosMc's'

The mega fast food chain is experimenting with a galactic-themed restaurant, drawing inspiration from an alien character featured in its 1980s commercials.


The Semiconductor 'FOMO'

The current push to develop India into a semiconductor manufacturing hub through PLI and DLI schemes under the umbrella of India Semiconductor Mission (ISM) is a step in the right direction


50 of the Best Work from Home Jobs That Pay Well in 2023

If you're tired of driving to an office and would love to work at home, there are plenty of high-quality full-time work-from-home jobs for you.


4 Out of 5 Entrepreneurs Step Down as CEO — Here Are 3 Things You Need to Do So You're Not One of Them.

Navigating the journey from entrepreneur to CEO is a profound transformation, one that often separates visionary founders from effective business leaders.