Flipkart unveils lab to tap Web3, metaverse for e-commerce innovations

Flipkart Labs will be based in Bengaluru and it will back in-house innovation by using emerging technologies, promoting ideas, and delivering "breakthrough solutions", it said

Flipkart said on Thursday it is starting an innovation programme to build and create technology-based solutions for improving e-commerce and shopping experience.

Flipkart Labs will be based in Bengaluru and it will back in-house innovation by using emerging technologies, promoting ideas, and delivering "breakthrough solutions", said the company.

Labs will enable Flipkart and its group companies to test new Web3 and Metaverse use-cases with real-world applications, including NFT-related use-cases, Virtual Immersive Storefronts, Play to Earn, and other Blockchain-related use-cases. “As we continue to grow and experiment, we will operate at the intersection of business and technology to make innovation real and relevant for customers,” said Jeyandran Venugopal, chief product and technology officer, Flipkart.

“With Flipkart Labs, we are looking at strengthening our in-house innovation capabilities by carving out a dedicated, entrepreneurial team and look forward to bright and curious minds joining us to transform the way India shops. ”

Naren Ravula, vice president and head, product strategy and deployment at Flipkart Labs, said that Web 3.0 is poised to play a strong role in India's digital acceleration. He said the firm is committed to the growth of the e-commerce ecosystem in India and Web 3.0 leverages the best of the latest technology like blockchain for real-world use cases that can digitally transform businesses like ours. “Some of the use-cases like immersive commerce, NFT-related use-cases and more are very promising,” said Ravula.

 Flipkart Labs will be housed in the Product Strategy & Deployment (PSD) arm of the Flipkart Group and will work with talent building technology solutions in this space. It will also look at potential collaborations beyond the organization with brands, merchants, startups, and technologists.