Flipkart has partnered with decentralized music and entertainment company eDAO to launch a metaverse-based shopping platform called Flipverse. The platform is in the early stages of adoption and will only be available to Android users for one week, the e-commerce giant said. The first phase will feature 15 brands, including apparel brand Puma, cosmetics and personal care brand Nivea, and domestic electronics brand Noise.
Flipverse is part of Flipkart Labs, which was announced in April to build “blockchain and metaverse use cases,” examples of which include virtual storefronts such as the Flipverse platform announced today. increase.
Flipkart further said it has no current plans to offer features such as the ability to link cryptocurrency wallets to the platform and migrate NFTs. Also, Flipverse does not have its own token for the foreseeable future. However, Flipkart says users who shop on the platform will earn her NFT rewards and can monetize with physical items.
Users of the platform will also be able to obtain virtual avatars, and future versions of the platform will also include collaborative shopping experiences. This allows users to interact with each other’s virtual avatars when shopping.
For now, industry experts say the Metaverse e-commerce service is primarily for educational and promotional purposes. Sanjay Kothari, Associate, his partner and his Redseer at the market research firm, said: But given that users are less attentive, brands definitely want to create a more engaging experience for shoppers. ”
Kothari added that since the experience is in its early stages, most user engagement will be driven by mature users in the Tier 1 market. “Early examples of metaverse adoption in e-commerce are mostly from big companies such as his Flipkart. The cumulatively constructive pilot of the pilot leads to his experience,” he added.
As a result, Kothari said brands may adopt such experiences more and more frequently in the future as e-commerce platforms seek to drive user engagement and awareness towards new technologies. I’m here.
The move marks the latest move for the Metaverse e-commerce experience in India, a nascent space at the moment. On June 10, Haryana-based white-label non-fungible token (NFT) marketplace developer Gurugram launched Comearth, its own e-commerce marketplace for brands to create their own virtual storefronts. Launched his NFTically. NFTically CEO Toshendra Sharma told Mint at launch that brands such as home auto parts brand Ceat Limited, multi-brand footwear retailer Metro Brands, and textile conglomerate Mafatlal Industries are part of the Metaverse space. He said he signed a contract to join. .
Globally, platforms such as Decentraland, Roblox and The Sandbox offer virtual, gamified spaces for brands to create custom stores and outlets as part of their promotional efforts. In December last year, German fashion brand Adidas launched the “Into The Metaverse” NFT collection on his decentralized metaverse platform, The Sandbox. Last May, Italian luxury fashion brand Gucci also unveiled its own Metaverse store on Roblox.
In India, homegrown metaverse platform Partynite is partnering with the likes of pharmaceutical brand Eno and telecom operator Bharti Airtel to deliver metaverse events and cinematic experiences.