Flipkart launches metaverse shopping experience, Polygon powers police complaint portal in

We have launched Cryptogram, an India-focused free weekly newsletter on blockchain tech, global crypto markets, and Web 3.0 technologies which promise to change our future. If you would like to subscribe to this newsletter, click here. You can read our past editions here.

Here are some significant stories from the previous week.

Flipkart enters metaverse to enable virtual shopping experience  

India-based e-commerce platform Flipkart has announced that it has partnered with Polygon-incubated organization eDAO to launch Flipverse – a metaverse space where consumers can discover products in a photorealistic virtual destination and shop on Flipkart App.

The platform provides customers with “gamified, dynamic, and immersive purchasing experiences” built on the pioneering Web 3.0 tech stack developed by eDAO.

Customers who use the platform can access Supercoins, Flipkart’s loyalty points, as well as digital collectibles from partner businesses when they make purchases. 

To promote their goods and deals, companies like Puma, Noise, and Nivea will build virtual theater experiences within Flipverse. The launch’s goal is to change the shopping narrative and bring customers closer to their favorite companies.

Polygon hosts India police complaint portal

Residents of Firozabad, Uttar Pradesh can now register complaints through a new police complaint system that employs blockchain technology to prevent manipulation.

Using this cutting-edge technology, the district, which has 2.5 million citizens and 21 police stations, aims to improve the immutability and transparency of complaints made by victims.

The portal allows victims of crimes to register complaints against local police officers without the complaints either being dismissed or manipulated by potentially corrupt officers.

The blockchain-based police complaint portal has been prepared by a private company that specializes in Web 3.0 software making in collaboration with the smart cell of the Firozabad police. 

Mastercard to help banks offer crypto trading

Payments giant Mastercard has partnered with Paxos Trust Company to introduce a new program called Crypto Source enabling financial institutions to offer crypto trading and other related services to their customers. 

The payments company said its role is to keep banks on the right side of regulation by following crypto compliance rules, verifying transactions, and providing anti-money-laundering and identity monitoring services. 

In the first quarter of 2019, Mastercard will test the product, after which it will “crank the handle” to expand globally.

The payments company had earlier started a service that allows issuers to evaluate the risk profile of crypto exchanges.

Sachin Tendulkar partners with NFT platform Rario

Digital cricket collectibles platform Rario has partnered with cricket legend Sachin Tendulkar to enter the non-fungible token (NFT) market. Tendulkar will be a strategic investor in Rario, an NFT platform focusing on cricket.

Rario will have access to iconic events in Tendulkar’s life and career in the form of official NFTs.

Many legendary and upcoming cricketers are already on Rario’s platform exclusively, including Aaron Finch, Faf du Plessis, Rishabh Pant, Virender Sehwag, and Zaheer Khan, but Tendulkar is Rario’s biggest catch.

Polygon Studios and Animoca are partners of Rario. The platform has sold over 150,000 NFTs since 2021.

India ranks third globally in terms of Web 3.0 workforce size

According to a recent study by a nonprofit organization, the National Association of Software and Services Companies (NASSCOM), around 75,000 blockchain professionals, which is 11% of the world’s Web 3.0 talent are present in India.

Apps that are primarily targeted at decentralized banking, the NFT gaming industry, decentralized communities, virtual worlds and metaverses, and much more are being developed by many companies in the country.

India is also home to 450 Web 3.0 startups, four of which are unicorn companies.

India’s rapid adoption of innovative technologies, its thriving startup ecosystem, and its enormous potential pool of technologically skilled workers are solidifying the country’s position in the global Web 3.0 sector.

TN police officers get trained in Crypto, Web 3.0

Deputy Superintendents of Police (DSPs) and Inspectors of the Tamil Nadu police have received training in Web 3.0 and related technologies at a one-day session held at the Police Training College in Ashok Nagar, Chennai.

Experts from Giottus, a tech company and cryptocurrency exchange headquarters in Chennai, led sessions on topics ranging from Web 3.0, blockchain, the future of the internet, crypto for policing, and identification of frauds in the Web 3.0 space.

The officers were briefed on the intricacies of tracing cryptocurrency transactions and examining other pertinent data.  

The officers were also briefed on the larger, policy-level initiatives including the current status of digital assets and blockchain technology, their implications, how they can be deployed at the state level, their future potential, and use cases.

The training assumes significance in the wake of the global interest in cryptocurrencies and a massive upsurge in crypto investments in the past few years.

Use promocode TNM51 at www.giottus.com/profile#promo after registration to get Rs.51 worth free Bitcoin.

Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.