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Flipkart and Fireblocks transform brand engagement on Polygon's blockchain

With a user base exceeding 500 mn and a product catalog spanning 80 diverse categories, Flipkart aims to reshape and elevate customer experience

Flipkart and Fireblocks transform brand engagement on Polygons blockchain

Photo Source: ET Retail

New Delhi: Flipkart, India's leading e-commerce platform, has partnered with Fireblocks, a blockchain-based enterprise platform, to change consumer interactions within the Web 3.0 environment. This strategic collaboration introduces FireDrops, a web3 brand engagement initiative developed on Polygon's Proof-of-Stake (PoS) system, offering users a secure, transparent, and personalized engagement experience.

FireDrops, seamlessly integrated within Flipkart, harnesses Fireblocks' wallet-as-a-service through GuardianLink, embedding web3 wallets to ensure a user-friendly and integrated experience. Fireblocks has generated a substantial 3.6 million web3 wallets for Flipkart users to date, a majority of which were created within the past few months.

This collaboration between Flipkart and Fireblocks underscores Flipkart's unwavering commitment to driving innovation within India's e-commerce landscape. With a staggering user base exceeding 500 million and an extensive product catalogue spanning 80 diverse categories, Flipkart aims to reshape and elevate customer experiences by exploring avenues like the FireDrops platform.

Ravi Krishnan, Head of Flipkart Labs, emphasizes India's burgeoning status as a global hub for web3 innovation. He highlights the evolving consumer demands for more personalized and interactive brand engagements, emphasizing the pivotal role played by digital assets and web3 in effectively connecting with customers.

Stephen Richardson, Head of APAC & Managing Director of Financial Markets at Fireblocks, expresses utmost enthusiasm about collaborating with Flipkart to bolster their technology solutions. He accentuates the instrumental role of FireDrops in democratizing digital ownership, making it accessible and user-friendly for millions of Indians intrigued by the realm of NFTs.

Fireblocks' Wallets-as-a-Service empowers Flipkart to seamlessly integrate privacy-preserving blockchain wallets into their mobile application, ensuring a seamless onboarding process for users venturing into web3. This integration enables Flipkart to automate and scale wallet functionalities, facilitating NFT creation to support an expanding user base on FireDrops.

FireDrops aspires to transform online brand interactions by offering engaging experiences and NFT-based rewards to users, fostering heightened community engagement and delivering a more enriched user experience. Brands within the FireDrops ecosystem anticipate forging deeper connections with customers, envisioning increased reward redemption rates and diminished customer acquisition costs.

This collaboration marks a significant milestone in reshaping brand engagement within India's e-commerce realm. The FireDrops initiative, powered by Flipkart and Fireblocks, stands poised to redefine user-brand interactions, unlocking new dimensions in customer engagement within the web3 landscape.

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