Flipkart Begins Work on ‘Photorealistic’ Virtual Shopping Ecosystem in Metaverse

Flipkart is gearing up to explore the potential of the metaverse by creating a shopping ecosystem for customers who cannot opt for retail buying but wish for precision in their shopping selections. The Indian e-commerce giant is set to launch the ‘Flipkart Metaverse’ that will bring together thousands of brands in the virtual universe. The Walmart-owned online shopping brand has roped-in eDAO to use its tools and resources to create the metaverse. Energy-efficient Polygon blockchain has been chosen to back-up this metaverse.

Shoppers will be able to try on their selections of apparels and footwear as digital avatars in the Flipkart Metaverse. Some collections will also feature NFT giveaways that would unlock special features and offers for their holders.

“The development of Flipkart’s Metaverse is geared to foster great partnerships, and thereby richer experiences for users to explore, benefit from, and interact with,” the company said in a press release.

The company has partnered with several brands to distribute the limited-time offers as rewards for early entrants into the Flipkart Metaverse.

The metaverse market is expected to reportedly reach $800 billion (roughly Rs. 59,58,700 crore) by 2024.

This is not the first time, however, that the e-commerce firm worth $11 billion (roughly Rs. 87,900 crore) is dabbing into the Web3 sector.

Back in July, Flipkart partnered with new phone brand Nothing to launch the very first NFT drop for the Nothing Phone (1) buyers.

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