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India-based e-commerce major Flipkart announced its second partnership with Polygon for launching a dedicated blockchain using Polygon Chain Development Kit (CDK).
What Happened: Flipkart selected Polygon CDK for building a customized Ethereum-based zero-knowledge (ZK) Layer 2 network. The Indian company looks to leverage various features of Polygon CDK like development ease, a proven track record, customization options, and a future-proof architecture.
By integrating Web3 and NFTs into brand loyalty programs, we are revolutionizing brand marketing, storytelling, and customer interaction, Naren Ravula, VP, of Product Strategy and Distribution at Flipkart.
Polygon CDK makes the process smooth for developers to design and launch ZK L2s on Ethereum. It is already used by projects including OKX, Astar, Canto, Gnosis Pay, Palm, and IDEX.
This is a game changer for the Web3 ecosystem in India. It not only has the potential to attract the top fintech entrepreneurs in India to build Web3 but it also might encourage many other top Enterprise and consumer brands to build their appchains," Sandeep Nailwal, the co-founder and chief operating officer of Polygon, said on social media.
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Why It Matters: The move comes on the heels of Flipkarts existing FireDrops Web3 loyalty program launch in September 2023. FireDrops was created by Hangs loyalty platform and has attracted over 3.3 million wallets since its launch holding at least one NFT. Hang is a comprehensive customer relationship platform.
The program incentivizes brand loyalty through gamification, offering rewards and engaging activities to the many Flipkart users.
Polygon stated that any future upgrades to Polygon CDK will lead to enhanced privacy for transaction data, the ability to run the chain without a token or to use a CBDC, and access to liquidity in the greater Polygon and Ethereum ecosystems.
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