E-commerce major Flipkart is partnering with Web3 start-up Polygon Labs and loyalty platform Hang to launch a loyalty program FireDrops 2.0, which incentivises brand loyalty through gamification.
FireDrops will involve the community and use underlying NFT technology for rewards for a better user experience. NFTs enable easy ownership and redemption of rewards, thereby creating new revenue streams for brands and empowering customers to actively participate in the loyalty ecosystem.
It aims to provide an immersive experience to users. Surprises, games and rewards await users as they engage with their favourite brands in meaningful ways, earning exciting benefits and rewards. Quests and games related to their preferred brands allow users to earn membership passes, lifetime discounts and more.
Naren Ravula, VP, Head of Product Strategy and Deployment at Flipkart, said, “By integrating Web3 and NFTs into brand loyalty programs, we are revolutionising brand marketing, storytelling and customer engagement. We recognise the value of customer loyalty and more importantly, the emerging space of Web3 loyalty. We are excited to partner with one of the best in the space for this innovative brand-first rewards and loyalty program.”
The program also plans to explore the launch of a dynamic marketplace that allows users to buy and sell rewards, adding flexibility and value to loyalty programs and fostering deeper brand engagement.
“The world’s most innovative brands, like Flipkart, have a monumental opportunity to redefine how they connect with their customers and build loyalty. The best programs of the future will be gamified, personalised, and Web3-enabled. The next generation of loyalty is here, and we are excited to partner with Flipkart to bring it to the masses,” said Matt Smolin, CEO and founder of Hang.