H&M has entered the metaverse. After a series of negotiations, the Swedish brand is preparing to start receiving new customers in its online store.
With this initiative, the brand becomes one of the pioneers in beginning to exploit the possibilities of new technologies in the digital sphere. In addition, it makes sure to compete with other brands such as Zara, of the Inditex group.
The clothing store will allow users to buy their products in CEEK City, a city in the metaverse.
At the moment, users can only buy their clothes within this virtual world, but it is planned that customers will have the opportunity to go through their clothing orders in the brand’s physical stores by purchasing them with CEEK, a cryptocurrency that operates on the Ethereum platform.
CEEK City wants to stand out as a project among the younger generations, and therefore promoted an alliance with the record label Universal Music. Thanks to this agreement, Bon Jovi, Lady Gaga or U2 are some of the artists that could perform on this platform.
Balenciaga, Dolce & Gabbana, Gucci or Nike are some other examples of the great potential that powerful companies have identified in the metaverse.
However, it isn’t only large companies that have tried to secure their presence in the metaverse. Smaller brands have also begun their journey. Auroboros, which already describes itself as “virtual couture”, and Tribute Brand, which collaborated with Adidas, are examples of what this market can mean for fashion.