Flipkart is all set to expand its advertising horizons by purchasing Digital Lands, a digital land parcel in Jump.trade’s RADDX Racing Metaverse. The company had earlier piloted its foray into the metaverse, with the launch of a dedicated virtual shopping experience, ‘Flipverse’, as part of its Diwali sale.
Digital Lands are parcels of virtual land within the metaverse that can be owned by brands to advertise their products and services to a highly engaged gaming community. Individuals can also purchase Digital Lands and rent them out to brands, thus creating a passive revenue stream.
“Brands like Flipkart getting into metaverse advertising and Web3 marketing will serve as an encouragement and a beacon for a lot of brands to follow suit. With over 500,000,000 gamers projected to be in India by 2025, and with more than 34% of gamers having been exposed to P2E, metaverse advertising is inevitable! It is definitely a thing of pride for us to be associated with such a progressive brand like Flipkart!” said, Ramkumar Subramaniam – Co-Founder & CEO of Jump.trade.
Naren Ravula, VP and Head, Product Strategy and Flipkart Labs, said, “We’re elated to be working with Jump.trade, a company that continues to sit at the forefront of web3 and Metaverse innovation. We look forward to tapping into this new surface area for reaching out to users. We are firm believers that there isn’t just going to be one Metaverse or one singular large 3D virtual world but an infinite universe of interconnected metaverses. The partnership also offers us a great deal of satisfaction considering that we can now contribute meaningfully towards this.”
