spot_imgspot_imgspot_img

Indian E-commerce Giant Flipkart Collaborates with Polygon (MATIC)!

  • Flipkart plans to integrate the Layer 2 chain distributed by CDK to strengthen its Web3.0 loyalty program FireDrops launched a few months ago.
  • This new development with Polygon aims to create an Ethereum-based zero-knowledge (ZK) Layer 2 network to facilitate future growth.
  • The popular e-commerce platform collaborated with Polygon earlier this year to launch FireDrops 2.0 with a comprehensive customer relationship platform called Hang on the Polygon blockchain.

Indian-based e-commerce company Flipkart is set to collaborate with Polygon Labs to strengthen FireDrops: Details about the collaboration!

Flipkart Collaborates with Polygon Labs

Polygon (MATIC)

Polygon Labs announced on Thursday that Indian-based e-commerce company Flipkart plans to integrate the Layer 2 chain distributed by CDK to strengthen its Web3.0 loyalty program FireDrops launched a few months ago.

Since the launch of the FireDrops Web3.0 loyalty program, it has marked a significant milestone by attracting withdrawals from more than 3 million active wallets, indicating its importance for the crypto-friendly organization. A significant percentage of Flipkart and FireDrops users are women, and their overall shopping habits are well-known.

This new development with Polygon aims to create an Ethereum-based zero-knowledge (ZK) Layer 2 network to facilitate future growth. By using Polygon CDK, developers can easily design and launch ZK L2 applications on the Ethereum network. Currently, leading projects like OKX, Canto, Astar, Canto, and IDEX are exploring the Polygon CDK technology stack.

According to the statement by Polygon, “FireDrops enables a loyalty layer in the future, allowing users with a past experience with a brand to unlock larger rewards, gain early access to products for in-demand items, and provide more interesting and creative ways for users to earn rewards from their favorite brands.”

One advantage of this collaboration with a private blockchain is that it allows Flipkart to offer its customers a personalized onboarding experience, a dedicated block space, and low transaction fees.

Alignment with Digital Innovation

The popular e-commerce platform collaborated with Polygon earlier this year to launch FireDrops 2.0 with a comprehensive customer relationship platform called Hang on the Polygon blockchain. Specifically, the loyalty program aimed to change users’ attitudes towards brands during online shopping.

Rewards and incentives, mostly presented in the form of Non-Fungible Tokens (NFTs), were introduced to increase user motivation, participation, and loyalty. As a result, Flipkart aims to improve the traditional customer experience in the loyalty program market.

Naren Ravula, Vice President of Product Strategy and Distribution at Flipkart, said, “By integrating Web3 and NFTs into brand loyalty programs, we are revolutionizing brand marketing, storytelling, and customer interaction.”

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?