Polygon to Build Ecosystem Chain for Flipkart, Expanding Web3 Ventures

• ByStartupStory     |    December 9, 2023

Polygon, a prominent Layer-2 solution, has announced its plans to build an ecosystem chain for the leading ecommerce giant Flipkart. Sandeep Nailwal, the Founder of Polygon, expressed excitement about this collaboration, stating, “It not only has the potential to attract the top fintech entrepreneurs in India to build Web3 but it also might encourage many other top Enterprise and consumer brands to build their appchains.”

This strategic move follows the recent recruitment of Ajay Ponna Venkatesh and Sai Krishna VK, former heads of Flipkart Labs’ Web3 division, who joined Polygon earlier this year. The collaboration marks the second significant initiative between the two entities. In the previous year, Polygon, a layer 2 solution, established a blockchain-ecommerce center of excellence dedicated to researching web3 and metaverse use cases.

Flipkart, in turn, has demonstrated a keen interest in the Web3 space. The ecommerce giant ventured into the non-fungible token (NFT) realm with its inaugural NFT range called “Fire Drops.” Additionally, during its flagship Big Billion sale, Flipkart made its first foray into the metaverse with the launch of Flipverse. For this project, Flipkart partnered with eDAO, a firm incubated by Polygon that specializes in designing and launching global art, media, and entertainment projects at scale in the Web3 space. The collaboration between Polygon and Flipkart signifies a strategic alignment to explore and contribute to the evolving landscape of Web3 technologies and applications.

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