This Diwali, Flipkart to woo customers with a Metaverse shopping experience

Flipkart is launching Flipverse, an interactive virtual shopping destination, in India. Sources close to the development have confirmed to The Decrypting Story that the ecommerce giant has teamed up with social media behemoth Meta and Ethereum scaling solution Polygon for the project.

Social media influencer Mukul Sharma tweeted about Flipverse's launch.

The Decrypting Story reached out to the Flipkart team for comment and awaiting a response.

The source said that Flipkart is expected to make an official announcement of Flipverse during Flipkart's Big Billion Day sale, which takes place during Diwali.

Flipverse will also host games, contests, drops, NFTs, brand activations, product launches, and mystery boxes. The source also mentioned that Flipverse can be accessed through any phone device or browser.

Metaverse shopping experience will transform ecommerce from 2D static product catalogs into real-time experiences that enable users to ‘walk’ around a store, enjoying 3D-rendered store displays.

Earlier in April, the homegrown ecommerce giant announced the launch of an in-house innovation capability Flipkart Labs to build Web3 solutions. Flipkart Labs is helping its group companies to test new Web3 and Metaverse use cases with real-world applications, including NFT-related use-cases, Virtual Immersive Storefronts, Play to Earn, and other Blockchain-related use-cases.

Preparing for Web3, Metaverse, and ecommerce

Tech giants including Meta, Microsoft, and Apple have been embracing the Web3 world. On August 5, Meta began rolling out support for non-fungible tokens (NFTs) across 100 countries. The NFTs were minted on Ethereum, Polygon, and Flow blockchain.

Microsoft recently announced that it will be launching its own enterprise Metaverse in 2022, and users will be able to access business tools like MS Excel and PowerPoint on it.

Indian IT companies such as TCS, HCL Tech, Wipro, and Tech Mahindra are gearing up to grab a share of the Metaverse market. Recently, Infosys launched the Infosys Metaverse Foundry to help companies navigate their Metaverse experience.