H&M Dismissed Rumors of Metaverse Store
Leading fashion retailer H&M has dismissed rumors suggesting it is establishing a store in the metaverse. Unfounded reports had implied that customers could navigate the store and make purchases within the Ceek metaverse.
H&M Refutes Speculations about Metaverse Store and Ceek Partnership
On Monday, several reputable publications, including the Economic Times and Mashable India, alleged that H&M, the retail clothing powerhouse, had launched a 3D store in the metaverse.
With 53 online and 75 physical markets worldwide, H&M (Hennes & Mauritz) stands as a dominant player in the fashion and design industry. As of September 30, 2021, it had a total of 4,856 stores globally. H&M’s largest markets encompass Germany, the U.S., the U.K., France, Sweden, Russia, Italy, and the Netherlands.
Nevertheless, the company has debunked the allegations of venturing into the metaverse. Upon inquiry from Bitcoin.com News, an H&M spokesperson clarified:
H&M would like to affirm that there are no plans at present to open a store in the Metaverse.
The erroneous reports had purported that in the Ceek City universe, customers could browse the store, select products, and complete purchases using ceek tokens (CEEK).
Ceek’s virtual reality environments operate on smart contracts within the Binance Smart Chain (BSC), according to their website.
The inaccurate reports also suggested that customers could later order items seen in the supposed H&M metaverse store from its brick-and-mortar stores.
The inception of the rumor can be traced back to a tweet from Ceek’s official account on December 7 last year, stating the creation of a “concept VR store” for presentation to H&M.
On Monday, Ceek’s official Twitter account added further clarity:
“The purported H&M store in the Ceek metaverse was merely a concept pitched to H&M and not an existing virtual store. We are engaging with H&M representatives to turn this into reality, but it remains a concept for now.”