Indian eCommerce Giant Flipkart Launches Web3 Division

Indian e-commerce marketplace Flipkart announced the launch of an in-house innovation arm called Flipkart Labs to build Web 3.0 solutions. Through the innovation arm, the e-commerce marketplace will test NFTs, virtual immersive storefronts, and play-to-earn for improving the e-commerce and shopping experience. Flipkart Forays Into Web3 and Metaverse Flipkart Labs will enable the e-commerce giant and its group companies to test new Web3 and Metaverse use-cases with real-world applications such as NFTs, Virtual Immersive Storefronts, Play to Earn, and other Blockchain-related use-cases. gm Flipkart exploring web3 wen? Right about now! Here's to innovating for Bharat 🙌 WAGMI 🚀 BUIDL with us at https://t.co/esYGGEvwFG pic.twitter.com/iHA84IYZ7k — Flipkart (@Flipkart) April 28, 2022 The new unit will be housed in the Product Strategy & Deployment (PSD) unit of the Flipkart Group and will also look at potential collaborations beyond the organization with brands, merchants, startups, and technologists. “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,” Naren Ravula, VP and Head, Product Strategy and Deployment, Flipkart Labs, said in the announcement release. Acquisition of AR/VR startup Skeptic Flipkart’s enthusiasm for innovation is noticeable owing to its acquisition o...