Home Shayne Heffernan on Investments Shoppers in India can now order sneakers in the Metaverse

Shoppers in India can now order sneakers in the Metaverse

by Natalies Edwards

E-commerce giant Flipkart India partnered with Polygon-incubated organization eDAO to launch a virtual shopping world in Web3.

Shoppers in India are getting more options for a digital shopping experience. Major local e-commerce platforms increasingly experiment with blockchain and the Metaverse. Indian shoppers can try out products from brands like Puma and Nivea in the gamified and interactive metaverse. Thanks to local e-commerce giant Flipkart launching a metaverse space for consumers to discover products in a photorealistic virtual destination and shop.

Flipkart launched Flipverse

Flipkart officially announced the launch of Flipverse on Oct. 17, aiming to bridge the best of the online and offline shopping experience.

Developed in collaboration with Polygon-incubated organization eDAO. Flipverse allows customers to create a metaverse avatar to go shopping in a virtual world. Intending to bring customers closer to their favorite brands. At the same time, brands will be able to create their metaverse-ready digital twin in the virtual world.

Besides featuring contests and exclusive brand offers, Flipverse will support unique digital collectibles. According to the announcement, Flipverse will feature a wide number of brands, including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus and others. The new shopping experience will be available on Flipkart’s newly online shopping platform, FireDrops.

The Flipverse offering is reportedly in the pilot stage and aims to attracts interest during this month’s festive season. Flipverse’s first phase pilot will be live for a week, Flipkart noted in the announcement.

According to Naren Ravula, vice president of product strategy of Flipkart Labs, the Metaverse is one of the “significant revolutions” in the development of e-commerce, and it has immense potential. “By providing customers with access to their preferred brands, offers, SuperCoins, and digital collectibles, we are aiming to improve their shopping experiences in a virtual and immersive setting,” Ravula noted.

Polygon co-founder Sandeep Nailwal pointed out that the world has only :

“just begun to scratch the surface of what’s possible in the metaverse,” and e-commerce is one of the “killer use cases” of the Metaverse.

Loud statement on social media

As one of the largest e-commerce platforms in India, Flipkart is known for making some loud cryptic statements on social media. Last year, Flipkart took to twitter to say that the company would be accepting Bitcoin payments. Eventually turned out to be an April Fools’ Day prank.

Flipkart is not the only company in India to experiment with the Metaverse. Indian multinational technology firm Tech Mahindra announced the launch of TechMVerse in February 2022. Its plan to offer interactive and immersive experiences to customers. As of July 2022, the firm was reportedly working on as many as 60 metaverse projects.

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2023 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.