It’s time to shop in the metaverse as Flipkart launches Flipverse

• Flipkart’s metaverse shopping space Flipverse will allow customers to access various digital collectibles.
  
• Brands including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, Ajmal Perfumes are participating in the Flipverse.
  
• Phase one of Flipverse is an Android only experience, and will be live for a week.
  
• The metaverse market value is expected to reach $1.3 billion by 2030.
  

Flipkart, one of India’s largest e-commerce platforms on Monday announced the launch of Flipverse - a metaverse space where consumers can shop in a photorealistic virtual destination.

Flipverse will give customers access to brands, Supercoins and digital collectibles, using the web3 technology being provided by Polygon-incubated company eDAO. Polygon is arguably India’s most famous crypto startup.

The objective of the launch is to 'flip' the shopping narrative, Flipkart said.

“The launch of Flipverse will continue to have an impact on innovative industries like e-commerce and enhance the customer experience while delivering a gamified and an immersive shopping experience, especially in light of the adoption of the metaverse and web3 platforms by multiple brands in India,” Naren Ravula, VP and head, product strategy and deployment, Flipkart Labs, said.

Flipverse will enable a multiverse of brands to create unique product launches for engaging users. Brands including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, Himalaya, Butterfly India etc. would be participating in this edition, Flipkart said.

Flipverse will be available on Flipkart’s newly launched platform, FireDrops, which can be accessed from the e-commerce platform’s app, the company said.

Phase one of Flipverse is an Android only experience, and will be live for a week, from October 17. The idea is to have millions of users experience Flipverse and open the doors to the future of shopping, Flipkart said.

Metaverse is a hyper-immersive virtual world whose value is steadily increasing. The market is expected to reach $1.3 billion by 2030.

“While we have only just begun to scratch the surface of what's possible in the metaverse, we see e-commerce as one of the killer use cases. Combining top brands with Flipkart's e-commerce expertise in a virtual environment stands to revolutionise online retail as we know it,” Sandeep Nailwal, co-founder of Polygon, said.

“Flipverse can unlock much value over time, but for Diwali, we simply optimised for delight. Bringing creative and technical heft to Flipkart’s vision is a privilege for eDAO,” Anand Venkateswaran, CEO of eDAO said.

In July this year, Flipkart entered the world of web3 partnering with Nothing phone, announcing special perks for the customers through ‘Nothing NFT drops’.

Flipkart and eDAO had also recently partnered to create a digital treasure hunt during Flipkart’s Big Billion Days sale.

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