Indian E-commerce Giant Flipkart Launches NFT Loyalty Program On Polygon

Flipkart, the renowned Indian e-commerce marketplace, has joined forces with Hang, a comprehensive customer relationship-building platform, to introduce FireDrops 2.0 on the Polygon blockchain. This groundbreaking rewards and loyalty program aims to revolutionize how users engage with brands during their online shopping journey. FireDrops 2.0, powered by Hang, will offer Flipkart users a perpetual flywheel of motivation, engagement, and loyalty, transforming the traditional customer experience.

Flipkart Joins Hang

By leveraging blockchain technology and Web3, FireDrops will redefine brand loyalty programs by involving the community and utilizing NFTs for rewards. This approach allows for easy ownership and redemption of rewards, creating new revenue streams for brands. The program also envisions the launch of a dynamic marketplace where users can buy and sell rewards, adding flexibility and value to loyalty programs.

FireDrops 2.0 builds upon the success of previous pilots where users earned digital collectibles and membership passes through engaging actions. This latest iteration aims to deliver an even more immersive brand-first rewards experience. Users can sign up for the waitlist to gain early access and be among the first to experience the program.

Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, expressed the significance of this collaboration, stating,

“By integrating web3 and NFTs into brand loyalty programs, we are revolutionising brand marketing, storytelling, and customer engagement

About NFT Loyalty Programs

Matt Smolin, CEO and founder of Hang, stated that innovative brands like Flipkart have a monumental opportunity to redefine customer connections and build loyalty. The best programs of the future will be gamified, personalized, and web3-enabled.

Starbucks, the global coffee giant, also introduced its Odyssey program in September. Here, members engage in interesting tasks or interactive games. It tests their knowledge about Starbucks and coffee to reward them with NFTs.

Read Starbucks Latest NFT Program On CoinGape’s Stories

A report said that almost 57% of Gen Z sense the need to communicate more freely in the metaverse than in actual life. So such NFT Loyalty Program with its utility value is of more importance. By offering discounts, exclusive events, limited-edition product releases, and giveaways, NFT rewards can mainstream firms to expand their businesses.