FTC wants to stop Meta from ‘owning the metaverse’
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The U.S. Federal Trade Commission (FTC) has sued Meta to prevent it from “owning” the metaverse sector.The FTC filing showed that the commission believes that Meta’s purchase of Within is another move by the company to control the space.The FTC filed the lawsuit on July 27 to stop Meta’s recent attempt to acquire Virtual Reality App maker Within.
Within Unlimited is the developer of the popular virtual reality app, Supernatural. Meta had announced plans to buy the VR firm in October 2021, and the deal was set to be finalized by August.The FTC said the Mark Zuckerberg-led company already has a very successful virtual reality empire and plans to expand by illegally acquiring a valuable fitness app for VR users. Stakeholders in the space have warned that Meta intends to develop a centralized and controlled system.
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