Flipkart, the Indian e-commerce market, introduced launching its new revolutionary labs as part of its plan to find internet 3.0 and Metaverse commerce utilizing NFTs, digital storefronts, play-to-earn, and different blockchain applied sciences.

Flipkart labs will likely be testing Internet 3.0 and metaverse use instances with real-world functions to create technology-based options designed to redefine e-commerce whereas enhancing consumer expertise, as the corporate defined.

Jeyandran Venugopal, the chief product and know-how officer of Flipkart, mentioned:

Flipkart has pioneered innovation in e-commerce in India and made it an integral a part of our lives. This has been attainable with many revolutionary initiatives during the last decade similar to money on supply (CoD), straightforward returns, no-cost EMI, and extra.

Venugopal added that the corporate would function on the intersection of enterprise and know-how to make innovation actual and related for purchasers.

He additionally defined that Flipkart Labs plans to strengthen its in-house innovation capabilities by carving out its devoted and entrepreneurial staff and searching ahead to vivid and curious minds becoming a member of them on this journey.

In the meantime, Naren Ravula, Flipkart Labs’ VP and head and product technique and deployment, defined that some use instances involving immersive commerce and NFTs are very promising. Ravula added that the corporate plans to collaborate with the Web3 neighborhood, innovate, and set the usual for commerce within the metaverse.

Ravula said that the corporate believes that these are the early days of the shift from Web2.0 to Web3.0. As defined, the evolution of the online constructed on decentralization, openness, and higher consumer utility may have a profound impression throughout many areas, together with e-commerce.

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