Indian eCommerce Giant Flipkart to Launch 1.1M Web3 Wallets on Polygon

According to recent reports, Jump.trade, Asia’s largest NFT marketplace, collaborated with Flipkart, an Indian e-commerce giant, to onboard over 1.1 million Web3 wallets. 

Flipkart to Host Web3 Wallets on Polygon

As per the news reports, Flipkart’s Web3 wallets would be hosted on the Polygon blockchain, which the GuardianLink brand claims has the ability to revolutionize e-commerce around the world.

Jump.trade Aims to Expand its Presence in Web3

With this development, Jump.trade’s partnership will allow e-commerce behemoth Flipkart to implement various Web3-specific elements, such as contests, brand-loyalty programs, and limited-edition drops. This will significantly expand Jump.trade’s offering beyond the company’s current and constantly expanding gaming clientele. 

The Head of Flipkart Labs, Ravi Krishnan said: “We are delighted to collaborate with such a steadfast partner as Jump.Trade, whose remarkable Web3 expertise and esteemed collaborations with renowned names and brands are truly commendable.”

Jump.trade Aims to Become the Face of Web3 in India

Co-Founder and CEO of Jump.trade, Ramkumar Subramaniam noted: “Jump.trade has consistently been at the forefront of accelerating Web3 adoption in India, and we are delighted to have achieved something extraordinary in collaboration with Flipkart, a global leader in Indian e-commerce.”

What is Flipkart?

Flipkart was launched in Mumbai in October 2007 by Sachin Bansal and Binny Bansal. In 2018, aWalmart declared that it planned to buy a 77% ownership interest in Flipkart for US$16 billion. Regarding Jump.trade, it is well-known as the premier NFT gaming marketplace for trading rare digital collectibles and assets.

Web3 Adoption on the Rise

Web3, often known as the decentralised web, is an electronic layout that emphasizes decentralisation, user empowerment, and actual data ownership. To achieve these objectives, it makes use of blockchain technology, smart contracts, and peer-to-peer networks. 

Back in April, Hong Kong’s official officials reiterated the city’s cryptocurrency commitments as it tries to establish itself as a fully regulated crypto center that draws investment and Web3 companies. The city administration announced plans to invest $50 million Hong Kong dollars ($6.4 million) in Web3 as part of the city’s 2023-24 budget.