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<h4 style="color: #252525;">There’s been a growing trend of major institutions embracing Web3 for their operations. </h4> 
Crypto experts believe that this interaction between mainstream institutions and Web3 platforms is a boost for the overall growth of the crypto industry.&nbsp; 
<h5>Flipkart Leverages Polygon to Boost Its Loyalty Platform&nbsp;</h5> 
<a href="https://twitter.com/0xFireDrops?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1732701250972749910%7Ctwgr%5E7b7ceb1a9c244bfb72bac511bd7e7e24fe47b399%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fwp-admin%2Fpost.php%3Fpost%3D129496action%3Deditclassic-editor" target="_blank" rel="noopener">Flipkart</a> is the largest e-commerce and one of the largest payment companies in India has been at the forefront of advancing collaboration between mainstream companies and Web3 platforms. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Flipkart is adopting a Polygon CDK-deployed Layer 2 chain to scale their web3 loyalty program, <a href="https://twitter.com/0xFireDrops?ref_src=twsrc%5Etfw">@0xFireDrops</a>. 
 Since its launch in September, FireDrops has amassed 3.3m+ active wallets –no small feat. 
 A bespoke, Ethereum-based ZK L2 network will enable <a href="https://twitter.com/Flipkart?ref_src=twsrc%5Etfw">@Flipkart</a> with a number of… <a href="https://t.co/hlliQjEypg">pic.twitter.com/hlliQjEypg</a> 
 — Polygon (Labs) (@0xPolygonLabs) <a href="https://twitter.com/0xPolygonLabs/status/1732701250972749910?ref_src=twsrc%5Etfw">December 7, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The company recently announced plans to launch an ecosystem chain leveraging <a href="https://polygon.technology/blog/introducing-polygon-chain-development-kit-launch-zk-l2s-on-demand-to-unlock-unified-liquidity" target="_blank" rel="noopener">Polygon’s Chain Development Kit (CDK)</a>. The move is part of its plans to boost FireDrops, its Web3 loyalty program. The announcement was made at Polygon Connect India. 
Polygon added that “future upgrades to Polygon CDK will also allow for enhanced privacy for transaction data, the ability to run the chain without a token or to use a central bank digital currency, and access to liquidity in the greater Polygon and Ethereum ecosystems.” 
<h5 style="color: #252525;">More About the Flipkart – Polygon Partnership</h5> 
The e-commerce giant will leverage Polygon CDK to provide its customers with various customization choices. This includes a simplified onboarding process, dedicated blockspace, and cheap transaction costs. 
Flipkart intends to use these and future updates to improve <a href="https://firedrops.flipkart.com/" target="_blank" rel="noopener">FireDrops 2.0</a>, their NFT-based incentive platform. FireDrops 2.0 seeks to revolutionize customer relations with brands. It provides millions of Flipkart customers with satisfying experiences that gamify brand loyalty. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Congrats on this fantastic collaboration, <a href="https://twitter.com/Flipkart?ref_src=twsrc%5Etfw">@Flipkart</a> and <a href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw">@0xPolygon</a>! 
 It's a significant victory for the entire ecosystem <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f91d.png" alt="🤝" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 — MeAI (@meai_app) <a href="https://twitter.com/meai_app/status/1732965183197446170?ref_src=twsrc%5Etfw">December 8, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
FireDrops plans to enable customers with a history of using a brand to unlock more incentives and receive early access to in-demand products. The idea is to create more engaging ways for customers to earn rewards from their preferred brands. 
FireDrops <a href="https://polygon.technology/blog/flipkart-to-launch-polygon-cdk-powered-chain-to-scale-firedrops" target="_blank" rel="noopener">launched</a> in September. And seems to have recorded impressive success. The team claims to have attracted over 3.3 million wallets with at least one non-fungible token (NFT). It also capitalizes on the achievements of prior pilot programs in which users acquired NFTs and membership passes through interactive engagements. 
In addition, FireDrops strategically endeavors to improve the <a href="https://www.altcoinbuzz.io/cryptocurrency-news/ton-blockchain-slows-to-1-tps-whay-happened/" target="_blank" rel="noopener">adoption</a> of Web3 in India. So, the partnership with Polygon will help fortify user engagement and loyalty programs within the Indian e-commerce sector. 
<h5 style="color: #252525;">Conclusion</h5> 
Polygon CDK has a reputation for helping projects easily launch ZK L2s on Ethereum. Noteworthy projects like OKX and Astar have already harnessed the user-friendly capabilities of CDK for developing ZK Layer 2 solutions on Ethereum. So, Flipkart’s decision to leverage this tool mirrors its ambition to improve the e-commerce space in India. 
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<h5>Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</h5> 
The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/flipkart-is-launching-an-ecosystem-chain-on-polygon/">Flipkart is Launching an Ecosystem Chain on Polygon</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Flipkart is Launching an Ecosystem Chain on Polygon

Altcoin Buzz

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