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- In yet another attempt to strengthen its global position, the Polygon network has struck a new partnership with leading e-commerce platform Flipkart.
- The partnership will allow Flipkart to utilize Polygon CDK as a base for building an Ethereum-based (ZK) layer-2 network.
The Polygon network has remained committed to the advancement and expansion of its network and the overall community. The network has struck a new notable partnership in an attempt to strengthen its position in the market.
Once again, the Polygon network is taking the necessary steps to advance its ecosystem. Collaborations have helped to increase visibility for crypto and blockchain networks and Polygon seems to understand this pattern perfectly. In a bid to grow its already thriving community, Polygon is partnering with Flipkart, as it looks to increase its presence in the Web3 ecosystem.
Per the announcement, Flipkart will be using Polygon CDK as a base to build a promising Ethereum-based zero-knowledge (ZK) layer-2 network.
The collaboration is poised to also benefit Polygon as Flipkart is a leading e-commerce company. The firm is known for pioneering services such as Cash on Delivery, No-cost EMI, and easy returns to the Indian customer base.
Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s digital commerce revolution. The company also boasts a registered customer base of more than 400 million, offering over 150 million products across 80+ categories.
Courtesy of the partnership. Flipkart could increase Web3 adoption for Indian investors
In an official announcement, Flipkart explained that the partnership will utilize Polygon CDK to penetrate the Web3 market and the metaverse. With the partnership came a handful of other initiatives such as Flipverse for nonfungible tokens (NFTs), eDAO for metaverse, and the FireDrops NFT marketplace.
As the announcement reads;
“Flipkart, the largest e-commerce and one of the largest payment companies in India is launching an ecosystem chain with 0xPolygon CDK. This is a game changer for the Web3 ecosystem in India.”
Not only does the collaboration have the potential to attract leading fintech entrepreneurs in India and prepare them to build in the Web3 ecosystem, but it also can push leading Enterprise and consumer brands to build their appchains.
The e-commerce network will also utilize Polygon CDK to aid it in providing a streamlined onboarding experience to its users. Courtesy of Polygon CDK, Flipkart will also be able to access and provide blockspace and low transaction fees to its users.
Speaking on the significance of this partnership Sandeep Nailwal, the co-founder of Polygon is quoted saying;
“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.”
Main announcement for today🎉🎉@Flipkart, the largest ecommerce and one of the largest payments companies in India is launching an ecosystem chain with @0xPolygon CDK.
This is an game changer for Web3 ecosystem in India. It not only has the potential to attract the top fintech… pic.twitter.com/gItcp4IjqB— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) December 7, 2023
Prior to the new development, Nailwal had previously announced, on the 7th of December, that Flipkart will use the Polygon CDK to scale its FireDrops Web3 loyalty program.
