Indian E-commerce giant Flipkart jumps into Metaverse & Web3.0

Walmart-backed Flipkart jumps into the adoption of Metaverse and Web3 innovation at commercial levels.

Flipkart is a leading Indian e-commerce platform, which is headquartered in Bangalore, Karnataka (India), and incorporated in Singapore as a private limited company. Flipkart also has support from Walmart. In the first month of this year, Walmart announced its Metaverse and NFTs-based plan. 

Recently Flipkart launched Flipkart Labs as an innovation unit for Flipkart, which will facilitate commercial level activities in the Metaverse. With the launch of Flipkart Lab, the company jumped in not only in Metaverse but also in Web3. 

The company will majorly focus on the development of cutting-edge technologies and also will focus on delivering solutions to the ecosystem.

Reports noted that Flipkart may represent its platform in Metaverse this year and also will focus on NFTs, virtual immersive stores, and the ever-popular play-to-earn with the engagement of blockchain technology.

The Head & Vice President of Product Strategy and Deployment, of Flipkart Labs, Naren Ravula, commented on this new foray of Flipkart into the Metaverse race and stated that Flipkart will focus to collaborate with the Web3 community in the initial phases. 

Naren further added: 

“(Flipkart will) set the standard for commerce in the Metaverse, and Web 3.0, the next iteration of the internet, will have a profound impact across e-commerce solutions, it leverages the best of the latest technology like blockchain for real-world use cases that can digitally transform businesses like ours.”

Metaverse & Virtual services 

At present, no real Metaverse projects are in existence. However, prototypes of Metaverse-based projects are available under the leadership of many companies, in particular from crypto projects, but the majority of them are only at a small level and not much better to experience the virtual world like reality.

At present, almost every industry is trying to adopt this Metaverse-based project because they see huge potential and opportunities to attract users. In the present time medical, Banking, food networks, Tech and entertainment companies are working at a high-speed rate to develop the Metaverse. 

Read also: Fidelity’s retirement Bitcoin plan getting backslash from Labor Department