Walmart-owned Indian marketplace Flipkart has created an innovation lab to explore commercial use cases for Web 3.0 technologies.

According to the statement, Flipkart Labs’ areas of interest include “metaverses, NFTs, virtual stores, games”. Win To Play and other blockchain application scenarios.

Based on these technologies, the lab will develop ready-to-test solutions from Walmart that can “take e-commerce to the next level.”

“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.” said Naren Rawula, vice president of Flipkart Labs.

Flipkart Camera’s virtual and augmented reality division will merge with Flipkart Labs. The company created it after acquiring core startup Scapic in 2020.

According to Bloomberg, the American retail giant bought a majority stake in Flipkart for $16 billion in 2018.

Recall that in January it became known that Walmart is preparing to enter the metaverse space with its own NFT collections.