HomeNewsFlipkart, India's E-commerce Giant, Launches FireDrops 2.0, an NFT Loyalty Program on...

Flipkart, India’s E-commerce Giant, Launches FireDrops 2.0, an NFT Loyalty Program on MATIC Blockchain, Fueling the Future of Digital Loyalty

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  • Flipkart, in partnership with Hang, introduces an innovative NFT-based loyalty program, FireDrops 2.0, on the Polygon blockchain, enhancing customer engagement.
  • FireDrops 2.0 will allow users to earn digital collectibles and membership passes, establishing new revenue streams and transforming brand marketing.

Indian e-commerce titan, Flipkart, in a strategic collaboration with Hang, a customer relationship-building platform, has unveiled FireDrops 2.0 on the Polygon blockchain. FireDrops 2.0, a novel rewards and loyalty program powered by Hang, promises to revolutionize the online shopping experience, introducing an ongoing cycle of motivation, engagement, and brand loyalty.

By harnessing the power of blockchain technology and Web3, FireDrops is set to reinvent brand loyalty programs. It incorporates the community and employs NFTs as rewards, promoting easy ownership and redemption, thereby spawning new revenue avenues for brands. The visionary program also plans to initiate a dynamic marketplace for buying and selling rewards, adding an element of flexibility and value to loyalty programs.

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Following the successful pilot programs where users accrued digital collectibles and membership passes via interactive actions, FireDrops 2.0 aims to elevate the experience, providing a brand-first rewards scheme. Eager users can sign up for a waitlist to gain early access and be among the pioneers to experience this ground-breaking program.

Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, underscored the importance of this merger, stating,

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

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Matt Smolin, CEO and founder of Hang, added that innovative companies like Flipkart have a unique opportunity to reshape customer relationships and loyalty. He foresees that future leading programs will be gamified, personalized, and web3-enabled.

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Global coffee giant Starbucks has similarly introduced its Odyssey program in September, rewarding members with NFTs for participating in engaging tasks or interactive games.

As a report states that almost 57% of Gen Z feel the need for more open communication in the metaverse than in real life, the NFT Loyalty Program with its inherent utility value gains increasing significance. NFT rewards that offer discounts, exclusive events, limited-edition product releases, and giveaways can pave the way for mainstream firms to widen their business horizons.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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