The Indian e-commerce market, Flipkart, plans to launch Flipkart Labs to explore Web 3.0 and metaverse use cases together with non-fungible-tokens (NFTs), digital storefronts, play-to-earn and different blockchain applied sciences.
Elaborating on further plans, the press release informs that the Bangalore-based Flipkart Labs may even function as a vehicle for analyzing and revamping buyer expertise, accelerating digital commerce, and logistics and providing chain points.
Flipkart Labs will build technology-based alternatives that may redefine e-commerce and improve the purchasing experience. This also includes partnerships with manufacturers, retailers, startups and technologists.
Flipkart Camera, created after the acquisition of AR/VR startup Scapic in November 2020, has since deployed a number of 3D and augmented reality-based immersive purchasing experiences.
Naren Ravula, a top executive at Flipkart Labs, stated, “We’re within the early days of a paradigm shift from Net 2.0 to Net 3.0 and this evolution of the net/web constructed on the ideas of decentralization, openness and larger person utility could have a profound influence throughout many areas together with e-commerce.”
“Web 3.0 is poised to play a strong role in India`s digital acceleration. We are committed to the growth of the e-commerce ecosystem in India and Web 3.0 leverages the best of latest technology like blockchain for real world use cases that can digitally transform businesses like ours”.
E-commerce websites have long been trying to incorporate the futuristic vision of Net3 in user’s purchasing experience. With its web3 exploration, Flipkart will soon join its domestic rival Amazon, who is already considering selling NFTs in the future.
