E-commerce Behemoth Flipkart Launches NFT Loyalty Program on Polygon

Summary:
Flipkart has teamed up with customer relationship management system Hang to launch FireDrops 2.0 on the Polygon blockchain. This rewards and loyalty program will revolutionize brand loyalty programs by inviting users to participate and earn incentives in the form of NFTs.

Indian e-commerce giant Flipkart has teamed up with customer relationship management system Hang to launch FireDrops 2.0 on the Polygon blockchain. Users’ interactions with companies throughout the online purchase process might be drastically altered by this innovative rewards and loyalty program. Using Hang’s FireDrops 2.0, Flipkart can provide its customers with a never-ending cycle of incentive, engagement, and loyalty.

Engaging Brand Loyalty Program

FireDrops will revolutionize brand loyalty programs by inviting users to participate and provide incentives in the form of NFTs via the use of blockchain and Web3. This method makes it simple to acquire and redeem benefits, opening up new income channels for companies. Loyalty programs would benefit greatly from the introduction of such a dynamic marketplace where members could buy and trade awards.

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FireDrops 2.0 is based on the successful pilot program, which allowed users to gain access to premium features and digital collectibles by completing challenging objectives. The new version will provide a more comprehensive brand-first rewards experience. In order to be among the first to try out the new program, users may sign up for a waitlist.

Reimagining Relationships With Customers

Flipkart’s Vice President and Head of Product Strategy and Deployment, Naren Ravula, stressed the importance of this partnership. Also, according to Hang’s CEO and founder Matt Smolin, revolutionary companies like Flipkart have a once-in-a-generation chance to reimagine their relationships with their customers and strengthen their loyalty. To succeed in the future, software must have elements like gaming, personalization, and web3 connectivity.

In September, global coffee powerhouse Starbucks also debuted its Odyssey loyalty program. In this area, participants take part in fun activities or games with other people. To earn NFTs, users must demonstrate their knowledge about Starbucks and coffee.

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Almost two-thirds of millennials feel more comfortable speaking their minds in the virtual world than in the real one, according to a recent study. That’s why the practical benefits of the NFT Loyalty Program can’t be understated. NFT rewards may help companies in the mainstream by providing incentives like sales, VIP events, limited edition releases, and freebies.