June 15, 2023

Flipkart Partners with Hang To Launch Web3-based Loyalty Program with NFT Rewards

Flipkart

Flipkart

Flipkart, one of the largest online marketplaces in India, teamed up with Hang, an end-to-end customer relationship-building platform, to set up a Web3-based loyalty program with NFT rewards.

Firedrops 2.0, which is being launched on the Polygon blockchain, aims to revolutionize the consumer’s interaction with various brands through their online shopping journey through groundbreaking rewards and a loyalty program, according to Coingape

Leveraging blockchain technology and Web3, Firedrops, powered by Hang, will use the NFTs as rewards in an attempt to redefine brand loyalty programs. According to the U.today website, Firedrops users will get lifetime discounts, membership passes, and other rewards after they sign up for the waitlist to obtain early access to the program. 

In this regard, Vice President and Head of Product Strategy and Deployment at Flipkart Naren Ravula commented on the partnership, saying: “By integrating Web3 and NFTs into brand loyalty programs, we are revolutionizing brand marketing, storytelling, and customer engagement.” 

Meanwhile, CEO and Founder of Hang Matt Smolin noted that Flipkart is one of the innovative brands which have a great opportunity to redefine customer connection and build loyalty, pointing out that the best programs of the future would be personalized, gamified, and Web3-enabled.

In September, the global coffee giant, Starbucks, launched its blockchain-based loyalty program and NFT community, named Starbucks Odyssey. It, which includes coffee-themed NFTs that translate to real-world experiences, is an extension of Starbucks’ existing loyalty program, Starbucks Rewards, but leverages web3 technology like the polygon blockchain and NFTs.

The NFT Loyalty Programs became more significant in light of their utility value given that 57% of Gen Z feel more comfortable communicating in the metaverse than in real life. 

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