Flipkart ventures into NFTs with Nothing’s airdrop

Nothing is a UK-based consumer electronics brand that launched the first smartphone, Nothing Phone 1, this week. To create hype around the launch, the company has released an NFT collection called Nothing Community Dots and is hosting it using the Polygon blockchain. NFTs provide buyers with early access to new products, events, and specific gifts by the company.

According to Flipkart, customers who pre-book and purchase a new smartphone will be able to use NFTs through the Firedrops feature of the Flipkart mobile app.

Firedrops by Flipkart show that e-commerce companies are moving into the Web3 and NFT ecosystems. It will be available in the Flipkart app from July 22nd.

Jeyandran Venogopal, Chief Technology Officer of Flipkart, said:

Arjun Kalsy, Vice President of Growth at Polygon, believes that NFTs can completely reinvent the e-commerce experience by “unlocking verifiable digital ownership” and driving “improved community engagement.” increase.

Nothing’s NFT is also the first NFT drop by the smartphone brand. Keshav Bansal, director of Indian electronics brand INTEX, told Mint about plans to open a Metaverse store in June. Intex also plans to use blockchain in supply chain management.

Flipkart’s parent company, Walmart, is also planning to enter the NFT and Metaverse. According to a CNBC report, Walmart filed several trademark applications with the US Patent and Trademark Office last December to sell virtual commodities, NFTs and digital currencies.

Most single retail brands such as Nike and Adidas already sell millions of virtual products and NFTs. Indeed, the NFT collections of the three brands Adidas, Nike and Gucci generated $ 137.5 million in sales in just three months, Dapp Radar reported in March.

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