Indian marketplace Flipkart, which is owned by Walmart, has created an innovation lab to explore commercial use cases for Web 3.0 technologies.
According to the statement shared by the company, Flipkart Labs’ areas of interest include “metaverses, NFTs, virtual stores, Play-to-Earn games, and other blockchain use cases.”
The lab intends to develop solutions based on this tech ready for Walmart to test that can “take e-commerce to the next level.”
Flipkart Labs vice president Naren Ravula has said:
“We are in the early stages of a paradigm shift from Web 2.0 to Web 3.0, and this evolution of the web, based on the concepts of decentralization, openness and greater value for users, is impacting many areas, including e-commerce.”