Flipkart, the Indian e-commerce marketplace, plans to explore Web 3.0 and metaverse use cases including non-fungible-tokens, virtual storefronts, play-to-earn and other blockchain technologies under its new initiative, Flipkart Labs, the company said.
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Fast facts
- Flipkart Labs, based in Bengaluru, will also serve as a vehicle for research into redefining customer experience, accelerating digital commerce, and logistics and supply chain issues.
- Flipkart Labs will “build and create technology-based solutions that can redefine e-commerce and enhance the shopping experience,” the company said, adding it will collaborate with brands, merchants, startups and technologists.
- Flipkart Camera, formed after the acquisition of AR/VR startup Scapic in November 2020, has since deployed multiple 3D and augmented reality-based immersive shopping experiences.
- “We are in the early days of a paradigm shift from Web 2.0 to Web 3.0 and this evolution of the web/internet built on the concepts of decentralization, openness and greater user utility will have a profound impact across many areas including e-commerce,” said Naren Ravula, vice president and head, product strategy and deployment at Flipkart Labs.
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