Asian Tech Press (Apr. 29) -- Walmart's Indian e-commerce company Flipkart on Thursday announced the start of exploring Web3 and Metaverse commerce.

Flipkart formally launched Flipkart Labs, an in-house innovation arm to explore ways to expand onto the metaverse field.

The company said in a statement it aims to test the use of the new Web3 and metaverse with real-world applications, including NFT-related uses, virtual immersive storefronts, play to earn, and other blockchain related uses.

"Web 3.0 leverages the best of latest technology like blockchain for real world use cases that can digitally transform businesses like ours," said Naren Ravula, Vice President, Product Strategy and Deployment at Flipkart Labs.