Indian giant e-commerce Flipkart to partner Polygon (Matic)

On Dec 8, 2023

Flipkart announced that it is going to establish a new partnership with Polygon as a part of Web3 technology adoption.

Flipkart is Bangalore’s headquartered popular Indian e-commerce platform. In 2007, this platform was founded by Sachin Bansal & Binny Bansal as a bookseller platform but later expanded services for other products like consumer electronics, fashion, home essentials, groceries, and lifestyle products. In 2018, 77% stake in this company was acquired by Walmart.

On 7 Dec 2023, Polygon (Matic), a popular Proof-of-stake (PoS) crypto network, announced that Flipkart decided to adopt Polygon CDK-deployed Layer 2 chain to scale their web3 loyalty program.

Better network data reliability & multiple customisation options of the Ethereum-based ZK L2 network will help Flipkart to create a better customer experience for loyalty program.

Flipkart is adopting a Polygon CDK-deployed Layer 2 chain to scale their web3 loyalty program, @0xFireDrops.

Since its launch in September, FireDrops has amassed 3.3m+ active wallets –no small feat.

A bespoke, Ethereum-based ZK L2 network will enable @Flipkart with a number of… pic.twitter.com/hlliQjEypg
— Polygon (Labs) (@0xPolygonLabs) December 7, 2023

Firedrops is a part of Flipkart which mainly works for the Flipkart loyalty program maintaining a better loyalty program for Flipkart customers related to third-party brands.

Recently Polygon co-founder Sandeep Nailwal shared Polygon’s roadmap for seamless cross-chain composability and scalability of layer 2 chains at Polygon Connect India.

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🤩 Sandeep @sandeepnailwal sharing @0xPolygon roadmap for seamless cross-chain composability and scalability of layer 2 chains at Polygon Connect India 🇮🇳 pic.twitter.com/dfvDwnB8wi
— Sebastien 🏞 (@borgetsebastien) December 7, 2023

Flipkart also has some innovative history related to Metaverse, to provide a highly realistic virtual store service, so that people can get a better shopping experience but people rarely show interest over time.

Matic price action

All such practical level development and adoption news about Polygon blockchain acting as a catalyst to give a better boost to the trade price of Polygon’s native Cryptocurrency Matic.

The current trade price of the Matic coin is $0.857 & this trade price is 58% higher than the last 90 years of trade prices.

Indian giant e-commerce Flipkart to partner Polygon (Matic) 1

In the coming months, the Polygon team will rebrand the Matic token to Pol the token along with several new development works. All the coding level work for the Matic to Pol transition has been done.