To enhance the shopping experience, even more, Flipkart launched the Flipverse feature on Monday. Flipverse is a multiverse experience where users will get to experience the products in three-dimensional virtual reality through smartphones, as VR headsets won’t be required here. Not only this but people will be able to buy them directly as well.
The locally developed e-tailer has already signed up more than 15 brands to launch and showcase almost 100 products on Flipverse. Flipkart has become the first-ever e-commerce platform to do so. The goal is to motivate client spending by offering rewards that can be exchanged for both virtual and actual products, such as non-fungible tokens (NFTs), in the future.
This event of metaverse will be available on Flipkart for the duration of one week only but during this time people will get to see the brands like Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, Himalaya, Butterfly India. This feature is available for all android users as the e-tailer wants additional sales from tier-2 and beyond cities, the corporation claims that this is its primary customer base.
This holiday season, Tier-2 and higher regions have dominated the market, accounting for around 65% of the overall gross merchandise value (GMV). Redseer had earlier anticipated that the holiday sale, which spans from the end of September to the end of October, will bring in roughly $11.8 billion in GMV, or about 28% more than the previous year.
Flipkart collaborated with eDAO
For the launch, Flipkart collaborated with Web3 businesses like eDAO, Polygon, and Guardian Link. The business wants to imitate a virtual shopping mall where users will get features like creating their own avatars and browsing alongside other characters.
In its initial form, the brands will allow customers to browse merchandise from a variety of categories, including sportswear, wearable gadgets, clothing, cosmetics, and home appliances, as well as receive offers and collectibles. The business said that Flipverse would also be included in its loyalty program Super coins.
Flipkart LABS, the company's blockchain, and the metaverse-focused platform is home to the Flipverse project. Flipkart said it will monitor metrics including the number of brand tie-ups, user experience, and the engagement time on the app to evaluate the project's performance.
Recently, Flipkart and eDAO collaborated to develop a digital treasure hunt for its Big Billion Days holiday sale. Customers had access to digital collectibles in the areas of art, athletics, gaming, and entertainment at the conclusion of the 10-day sale. The collectibles are stored on Polygon, a blockchain that is said to be layer II and is based on the Ethereum network.
Key executives of Flipkart Labs, a division that explores with advance technologies, Ajay Ponna Venkatesh and Sai Krishna VK, stated in a media conference that the firm was not looking at monetizing or promoting user growth on Flipverse in the short term. According to Naren Ravula, VP and head, of product strategy and development, "the future expansion of e-commerce will be influenced by the immersive technologies of today, and metaverse is one of the biggest revolutions in this sector with great potential."
"This is a brief buying experience; moving the entire purchasing process online is not our intention; that does not step one. The relationship with Flipverse is for the holiday season only; we do not plan to keep it on the app permanently. With it, we hope to offer a more engaging and dynamic shopping experience. Implying that the app size won't change and that it will work with any Android phone, the Flipkart business stated, "We'll then gather feedback and bring it in a different format or the same one, possibly in a different season."
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