Flipkart Collaborates with Polygon Labs
Polygon Labs announced on Thursday that Indian-based e-commerce company Flipkart plans to integrate the Layer 2 chain distributed by CDK to strengthen its Web3.0 loyalty program FireDrops launched a few months ago.
Since the launch of the FireDrops Web3.0 loyalty program, it has marked a significant milestone by attracting withdrawals from more than 3 million active wallets, indicating its importance for the crypto-friendly organization. A significant percentage of Flipkart and FireDrops users are women, and their overall shopping habits are well-known.
Creating an Ethereum-based ZK Layer 2 Network
This new development with Polygon aims to create an Ethereum-based zero-knowledge (ZK) Layer 2 network to facilitate future growth. By using Polygon CDK, developers can easily design and launch ZK L2 applications on the Ethereum network. Currently, leading projects like OKX, Canto, Astar, Canto, and IDEX are exploring the Polygon CDK technology stack.
According to the statement by Polygon, “FireDrops enables a loyalty layer in the future, allowing users with a past experience with a brand to unlock larger rewards, gain early access to products for in-demand items, and provide more interesting and creative ways for users to earn rewards from their favorite brands.”
One advantage of this collaboration with a private blockchain is that it allows Flipkart to offer its customers a personalized onboarding experience, a dedicated block space, and low transaction fees.
Alignment with Digital Innovation
The popular e-commerce platform collaborated with Polygon earlier this year to launch FireDrops 2.0 with a comprehensive customer relationship platform called Hang on the Polygon blockchain. Specifically, the loyalty program aimed to change users’ attitudes towards brands during online shopping.
Rewards and incentives, mostly presented in the form of Non-Fungible Tokens (NFTs), were introduced to increase user motivation, participation, and loyalty. As a result, Flipkart aims to improve the traditional customer experience in the loyalty program market.
Naren Ravula, Vice President of Product Strategy and Distribution at Flipkart, said, “By integrating Web3 and NFTs into brand loyalty programs, we are revolutionizing brand marketing, storytelling, and customer interaction.”