Flipkart plans to expand into virtual assets with its FireDrops platform. “We will endeavor to engage with brands, enterprises and their communities through innovation and entry into the Web3 segment. We are delighted to be associated with Nothing for the first NFT drop on Flipkart FireDrops,” the company said in a press release. Community Dots can be redeemed for NFTs by customers pre-booking Nothing’s Phone (1) on Flipkart between July 12 and 18.
Nothing said that the firm plans to build devices for secure access to Web3 in other categories, including phones. This airdrop will be hosted on the Polygon blockchain. Using blockchain technology in NFTs, tokens of unique items are authenticated which are linked to reproducible digital assets. These can include art, music, in-game items, and videos. These can be traded online but cannot be duplicated.
With the increase in the business of NFTs, the cases of scams related to them have also increased. In some such cases, NFT buyers have suffered huge losses. In the US, some major fraud cases related to this segment have been uncovered. Some of the accused have also been arrested. These cases have raised apprehensions about trading in this segment. The popularity of NFTs has increased in recent months. Sports clubs, automobile companies and pop stars are also getting into this business. Recently Shopify has launched NFT gated stores for small businessmen. On Shopify, merchants get the facility to create e-commerce stores according to their needs.
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