Flipkart Introduces NFT Loyalty Program on Polygon

Aug 10, 2023

Flipkart, a well-known Indian online shopping site, has partnered with Hang, a platform for building customer relationships, to introduce FireDrops 2.0 on the Polygon blockchain. This new rewards and loyalty program aims to change how people interact with brands when they shop online. FireDrops 2.0, powered by Hang, will offer Flipkart users ongoing motivation, engagement, and loyalty, transforming the traditional shopping experience.

Flipkart Partners with Hang

Using blockchain technology and Web3, FireDrops will redefine loyalty programs by involving the community and using NFTs for rewards. This makes it easy to own and use rewards, creating new ways for brands to make money. The program also plans to launch a marketplace where users can buy and sell rewards, making loyalty programs more flexible and valuable.

FireDrops 2.0 builds on earlier versions where users earned digital collectibles and membership passes by doing certain actions. This new version aims to offer an even more engaging rewards experience. Users can sign up early to be among the first to try the program.

According to Naren Ravula, who is the Vice President and leads the Product Strategy and Deployment at Flipkart

By using web3 and NFTs in loyalty programs, we're changing brand marketing, storytelling, and how customers engage.

About NFT Loyalty Programs

Matt Smolin, CEO and founder of Hang, said brands like Flipkart can redefine customer connections and loyalty. The best programs in the future will be fun, personal, and use web3.

Even Starbucks has its Odyssey program where members play games to earn NFTs. A report says that 57% of Gen Z feel more comfortable communicating in the metaverse than in real life. So, NFT Loyalty Programs can be really important. With discounts, special events, limited products, and giveaways, NFT rewards can help businesses grow.

Source: coingape.com