Retail Giant H&M Debunks Rumor of Store Opening in Metaverse, Collaboration With Ceek – Bitcoin News

Major fashion company H&M has denied the rumor that it is opening a store in the metaverse. False reports claim that customers would be able to walk into the store and buy products from the Ceek metaverse.

H&M Denies Metaverse Rumor and Collaboration With Ceek

Several major publications reported Monday that retail clothing giant H&M has opened a 3D store in the metaverse, including the Economic Times and Mashable India.

H&M (Hennes & Mauritz) is a major fashion and design company with 53 online markets and stores in 75 markets worldwide. One of the largest clothing brands in the world, H&M has 4,856 stores globally as of Sept. 30, 2021. The U.S. is its largest market, followed by France, Sweden and Russia.

The company denies reports that it will open a metaverse store. When Bitcoin.com News inquired about the news, a spokesperson for H&M clarified:

We’d like to confirm that H&M is not opening a store in Metaverse at this time.

The false claims claim that Ceek City will allow customers to shop in its store and choose their products. All payments must be made using ceek tokens, (CEEK).

Ceek virtual reality settings are controlled by smart contracts via the Binance Smart Chain, (BSC), details of which can be found on its website.

In addition, the false reports also claim that customers will be able to order clothes seen in the H&M metaverse store from its physical stores later.

The rumor of H&M opening a store in the metaverse followed a tweet by Ceek’s official Twitter account on Dec. 7 last year. The company said it created a “concept VR store” to be presented to H&M.

However, the spokesperson for H&M told Bitcoin.com News:

Ceek is not our partner.

The official Twitter account for Ceek subsequently clarified Monday: “The H&M store in the Ceek metaverse was just a concept that was presented to H&M and not an actual virtual store yet. We are in discussions with people at H&M to make this a reality, but this is not something that’s a reality as of now.”

Do you think H&M should open a store in the metaverse? Leave your comments below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.