Indian E-commerce Giant Flipkart Launches NFT Loyalty Program on Polygon
Flipkart, the renowned Indian e-commerce marketplace, has teamed up with Hang, a comprehensive customer relationship building platform, to introduce FireDrops 2.0 on the Polygon blockchain. This ground-breaking rewards and loyalty program aims to revolutionize how users engage with brands during their online shopping journey. Powered by Hang, FireDrops 2.0 will offer Flipkart users a perpetual flywheel of motivation, engagement and loyalty, transforming the traditional customer experience.
Flipkart joins Hang
Leveraging blockchain technology and Web3, FireDrops will redefine brand loyalty programs by involving the community and using NFTs for rewards. This approach enables 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 on the success of previous pilots where users earned digital collectibles and memberships through engaging actions. This latest iteration aims to deliver an even more immersive brand-first rewards experience. Users can register on the waiting list to get early access and be among the first to experience the program.
Expressing the significance of this collaboration, Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, said:
“By integrating web3 and NFTs into brand loyalty programs, we are revolutionizing 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 of Starbucks and coffee to reward them with NFTs.
Read Starbucks’ latest NFT program on CoinGape’s stories
A report said that nearly 57% of Gen Z feel the need to communicate more freely in the metaverse than in actual life. So such NFT loyalty program with its utility is more important. By offering discounts, exclusive events, limited edition product releases and giveaways, NFT rewards can mainstream businesses to grow their business.
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