Flipkart Begins Work on ‘Photorealistic’ Virtual Shopping Ecosystem in Metaverse

Shoppers will be able to try on their selections of apparels and footwear as digital avatars in the Flipkart Metaverse.

Written by Radhika Parashar, Edited by Richa Sharma | Updated: 22 September 2022 10:13 IST

Flipkart Begins Work on ‘Photorealistic’ Virtual Shopping Ecosystem in Metaverse

Photo Credit: Flipkart

Flipkart has team with many brands to distribute limited-time offers as rewards for early entrants

Highlights

Flipkart is diving deeper into Web3 space
In July, Flipkart had announced NFTs with Nothing
Flipkart is among first Indian e-commerce players to try metaverse

Flipkart is gearing up to explore the potential of the metaverse by creating a shopping ecosystem for customers who cannot opt for retail buying but wish for precision in their shopping selections. The Indian e-commerce giant is set to launch the ‘Flipkart Metaverse' that will bring together thousands of brands in the virtual universe. The Walmart-owned online shopping brand has roped-in eDAO to use its tools and resources to create the metaverse. Energy-efficient Polygon blockchain has been chosen to back-up this metaverse.

Shoppers will be able to try on their selections of apparels and footwear as digital avatars in the Flipkart Metaverse. Some collections will also feature NFT giveaways that would unlock special features and offers for their holders.

“The development of Flipkart's Metaverse is geared to foster great partnerships, and thereby richer experiences for users to explore, benefit from, and interact with,” the company said in a press release.

Government Mulling Special GST Slab for Cryptocurrencies: Report

The company has partnered with several brands to distribute the limited-time offers as rewards for early entrants into the Flipkart Metaverse.

The metaverse market is expected to reportedly reach $800 billion (roughly Rs. 59,58,700 crore) by 2024.

This is not the first time, however, that the e-commerce firm worth $11 billion (roughly Rs. 87,900 crore) is dabbing into the Web3 sector.

Binance, FTX Enter Tug-of-War for Crypto Lender Voyager’s Assets

Back in July, Flipkart partnered with new phone brand Nothing to launch the very first NFT drop for the Nothing Phone (1) buyers.

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Metaverse, Flipkart

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More