Flipkart and Fireblocks Revolutionize Brand Engagement Experience for Millions of Indian Users on Polygon's Blockchain

Flipkart,India’s homegrown e-commerce marketplace, hasannounceditspartnershipwithFireblocks, an enterprise platform to manage digital assetoperations and build innovative businesses on blockchain. The strategic collaboration aims torevolutionize the way consumers safely and easily interact with the Web 3.0 ecosystem. Thiscollaborationwillalsoprovideavenuesforbrandstoinnovateandenhancecustomerexperiences,asbeingexploredviatheFireDropsplatform.

FireDrops is an endeavor to create a safe and scalable brand engagement program on theblockchain, where wallets seamlessly spun by Fireblocks allow users to easily interact withweb3. Fireblocks has set up 3.6 million wallets for Flipkart users, with a majority of them createdin the past few months. Flipkart’s collaboration with Fireblocks is a testament to its commitmentinenabling innovation in the Indian e-commerce industry. Flipkart has over 500 million userswithmorethan150millionproductsacross80categories.

“India is fast emerging as the global hub for innovation in web3,” saidRavi Krishnan, Head of Flipkart Labs. “As we look ahead at how the new generation engages with brands, they seek amore personalized and interactive experience, and brands realize they can no longer applybroad strategies across audience segments. In this context, digital assets and web3 havebecomeessentialtoolstoengagewith customers effectively. Fireblocks' role is crucial insafeguarding these assets, enabling us to develop and scale. FireDrops, one of the web3offerings,isamongmanythatweareexcitedabout.Inthenextdecade,web3willbetransformativeforthe e-commerce space, and India and Flipkart are the perfect sandbox forhowdigitalassetsmayblurthelinesbetweengamificationandretailexperiences.”

“We are excited to collaborate with Flipkart to provide them with a resilient, enterprise-gradeplatform upon which they are building their technology solutions, so they can enhance theshopping experience for users and redefine e-commerce,” saidStephen Richardson, Head of APAC & Managing Director, Financial Markets at Fireblocks. “Through FireDrops, a familiaruser experience has been created for millions of Indians interested in collecting their first NFT,making digital ownership more accessible and lowering the barrier to entry into the world ofweb3.”

Fireblocks' Wallets-as-a-Service allows Flipkart to embed privacy preserving blockchain wallets directly into their mobile application, providing users with seamless onboarding into their first web3 experience. With Fireblocks, Flipkart can automate and scale wallets and enable NFT creation to support millions of new users on FireDrops.

FireDrops is aiming to revolutionize how users connect with brands while shopping online. Byproviding engaging experiences with brands that enable customers to earn NFT-based rewards,FireDrops aims to foster greater community engagement and an enhanced user experience.BrandsintheFireDropsecosystemarealsoanticipatingthebenefitfromdeeper,moremeaningful, and more tailored interactions with their customers, resulting in higher rewardredemptionratesandareductionincustomeracquisitioncosts.