Polygon to launch ecosystem chain with Flipkart

Layer-2 solution Polygon on Friday revealed that it would be building an ecosystem chain for ecommerce major Flipkart.

"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," Sandeep Nailwal, Founder of Polygon said in a post on X.

This development comes after the former heads of its Web3 division Flipkart Labs—Ajay Ponna Venkatesh and Sai Krishna VK—left Flipkart to join Polygon earlier this year. The Decrypting Story was the first to report this development.

This would be the second major move the company has made in collaboration with Flipkart. Last year, the layer 2 solution set up a blockchain-ecommerce centre of excellence that will research web3 and metaverse use cases.

Flipkart has also shown keen interest in the world of Web3. It launched its first NFT range—Fire Drops as well as the company's first metaverse foray under Flipverse, which was launched during its flagship Big Billion sale. Flipkart partnered with eDAO, a Polygon-incubated firm that designs and launches global art, media, and entertainment projects at scale in Web3 for the project.