E-commerce Giant Flipkart To Launch Loyalty NFT On Polygon

Key Points:

• Flipkart has partnered with Hang, a complete customer relationship management platform, to launch FireDrops 2.0 on Polygon.
• This unique brand-first rewards and loyalty program promises to change the way people interact with companies.
• FireDrops 2.0 will have a waitlist, and users may sign up to get early access and be among the first to try out the software.

Flipkart, the well-known Indian e-commerce platform, has collaborated with Hang, a complete customer relationship-building platform, to launch FireDrops 2.0 on the Polygon blockchain.

FireDrops will reinvent brand loyalty programs by incorporating the community and using NFTs for incentives by using blockchain technology and Web3. This technique facilitates incentive ownership and redemption, generating new income streams for companies. The company also plans to develop a dynamic marketplace where users can buy and trade rewards, giving loyalty programs more flexibility and value.

FireDrops 2.0, driven by Hang, will provide Flipkart customers with a never-ending flywheel of incentive, engagement, and loyalty, completely altering the conventional customer experience.

FireDrops leverages Flipkart’s vast presence in the Indian market with Polygon’s scalable web3/blockchain technology, resulting in rapid, accessible, and ubiquitous NFTs. Papillon, a well-known pioneer in establishing web3 loyalty programs for global companies, has successfully collaborated with Flipkart through the Flipkart-Polygon Blockchain Centre of Excellence, which was unveiled in December of last year.

FireDrops 2.0 builds on the success of earlier pilots in which users won digital souvenirs and membership tickets by participating in interesting activities. This version strives to provide a more engaging brand-first rewards experience. Users may join the waitlist to get early access and be among the first to try out the software.

The importance of this relationship was highlighted by Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, who said:

“By integrating web3 and NFTs into brand loyalty programs, we are revolutionising brand marketing, storytelling, and customer engagement. As India’s homegrown e-commerce marketplace which is constantly innovating, we recognize the value of customer loyalty and more importantly, the emerging space of web3 loyalty. We are excited to collaborate with one of the best in the space for this innovative brand-first rewards and loyalty program.”

According to Matt Smolin, CEO and creator of Hang, innovative firms like as Flipkart have a massive chance to rethink consumer interactions and generate loyalty. Future programs will be gamified, customized, and web3-enabled.

Walmart, Flipkart’s parent company, is likewise interested in NFTs and the metaverse. In December 2021, Walmart submitted numerous trademark applications with the US Patent and Trademark Office to offer virtual products, NFTs, and digital currencies.

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