Meta’s obsession with monopolizing the new digital frontier of the Metaverse has now caught the attention of the U.S. Federal Trade Commission (FTC). Meta’s history of anti-competitive behavior is well known. His monopoly on social networks has often been a sore point for the inhabitants of the Internet, while his data processing methods have several times put the security of users at risk. However, his actions in the Metaverse industry were seen as a blatant power grab to own the next generation Internet.
From the moment Facebook’s parent company changed its name to Meta, the early pioneers of Metaverse treated it with contempt. The idea of a Metaverse has existed for much longer than Mark Zuckerberg’s attempts to appropriate it, thanks to Neil Stevenson’s novel “Snow Disaster”, published in 1992. This novel depicts a virtual world in which people live their lives in virtual avatars. charmed science fiction enthusiasts for decades. In recent years, the Metaverse has gained momentum thanks to the blockchain industry, where blockchain-based virtual worlds such as Decentraland and The Sandbox pioneered the use of NFT for Metaverse real estate in a fully decentralized network that no corporation could control.
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According to The Block, the FTC is currently suing Meta over its recent attempt to acquire rival company Metaverse Unlimited and its VR fitness app Supernatural. Meta already has a stranglehold on the public perception of the Metaverse, and the Federal Trade Commission is directly calling for this attempt to monopolize the new Internet frontiers. This is not the first time the FTC has sued the social media titan for monopolization — it was back in 2020 on the same charge of anti-competitive behavior. Just as Facebook has come to dominate Web2, Meta wants to dominate Web3.
Meta should not own a metaverse
The Meta concept of the Metaverse is an obvious attempt to stay relevant by marketing their virtual reality headsets and increasing the amount of user data they can collect. As the little-attended Meta concerts in January of this year showed, people are either not ready for the Metaverse, or don’t care about the Metaverse, or hate the idea of a Metaverse. Many people in the blockchain industry despise Meta for stealing the name Metaverse, which was previously used by their subculture. For them, the idea of centralized Facebook NFTs and the need to use Zuck Bucks in the Metaverse goes against what the Metaverse originally stood for, since none of these things will be stored in the blockchain and, thus, can be stolen or frozen by Zuckerbot. “.
Fortunately, the fact that Meta owns the intellectual property rights to the root word “Metaverse” does not mean that he will take the throne. The Nvidia graphics card giant is interested in a Metaverse that is not exclusive to Meta, and is quietly building the foundation for a decentralized virtual and augmented reality empire using the Omniverse platform. Omniverse standardizes the way graphics are processed in virtual scenes and worlds, thereby providing a decentralized alternative to the centralized closed Meta world. Meta’s ambitions are likely to run into stumbling blocks due to the huge computing power and Internet upgrades that will be required to realize its vision, requiring that full-body movements be recorded and broadcast to other people during activities such as virtual business meetings.
Now that Meta is facing legal action for trying to monopolize the Metaverse, the anger of the pioneers of the Metaverse is now somewhat justified. Meta has proven over the years that it will not stop until it gets full power over the Internet, and several lawsuits and fines are just the costs of doing business for the company. A lawsuit can not only slow down the work of Meta, but also create a precedent to prevent new acquisitions of competitors.