The United States Federal Trade Commission (FTC) has filed a lawsuit against Meta and its CEO, Mark Zuckerberg, to prevent them from allegedly owning everything related to the metaverse technology.
According to its Press Release, the FTC claims that the lawsuit is intended to halt Meta’s plans to “acquiring Within Unlimited and its popular virtual reality dedicated fitness app, Supernatural.”
The FTC stated in a tweet, “Meta and CEO Mark Zuckerberg are attempting illegal acquisition to expand virtual reality empire.”
The FTC believes that Zuckerberg and his company, Meta, intend to illegally purchase a “dedicated fitness app that proves the value of virtual reality to users.”
The FTC holds the opinion that Meta is refusing to compete in the market but instead prefers to buy its way to the top.
In the press release, the FTC Bureau of Competition Deputy Director John Newman disclosed, “Instead of competing on the merits, Meta is trying to buy its way to the top. Meta already owns a best-selling virtual reality fitness app, and it had the capabilities to compete even more closely with Within’s popular Supernatural app. But Meta chose to buy market position instead of earning it on the merits. This is an illegal acquisition, and we will pursue all appropriate relief.”
The FTC announced that Meta had begun its plan to take over virtual reality and Metaverse technology by purchasing a popular headset manufacturer, Oculus VR, Inc. The agency disclosed that Meta controls “seven of the most successful virtual reality development studios, and now has one of the largest first-party virtual reality content catalogues in the world” after acquiring them from competitors.
The FTC on Wednesday filed the complaint in the Northern District of California, claiming that Meta’s proposed acquisition of Within, a virtual reality company, and its accompanying app, Supernatural, violated US antitrust laws.
The agency believes that as a “potential entrant in the virtual reality dedicated fitness app market,” Meta should build instead of buying off competitors.
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