Meta is trying to monopolize metaverse

DoNews, March 6 (Li Wenpeng) it is reported that meta has lost its “relevance” in the social media market, and the potential metaverse regulation has also become a longer-term threat and concern for meta. Zuckerberg described metaverse as “an immersive Internet. It is a virtual space where people wearing AR / VR head displays can interact with each other’s avatars, play games, hold meetings and so on.

Meta is still in the early stages of developing this “futuristic” hardware and software that makes’ metaverse ‘possible, but it is already a market leader. Data show that in the first quarter of 2021, meta’s VR head display accounted for 75% of the overall AR / VR head display equipment shipments. It is also reported that meta has been quietly acquiring companies in the field of metaverse and acquired at least five AR / VR related companies last year.

It is reported that FTC is investigating the acquisition of within by meta, the developer of the popular VR fitness game supernatural. In addition, the anti-monopoly rights protection organization “tech insight project” said that meta was using “the same strategy as in the past to suppress potential competition”. In January this year, it was reported that the Federal Trade Commission (FTC) and the attorneys general of several states were investigating whether meta used monopoly practices in the AR / VR market.

In recent weeks, meta has encountered a series of setbacks, which makes the statement of regulators seem untenable. The fourth quarter financial report of 2021 showed that the growth rate of Facebook application users began to slow down, and the company’s share price also fell historically. The market value lost more than $250 billion in one day, the largest one-day decline in history. Meta executives blamed it on competition from tiktok, which is popular with young users.

Stephanie llamas, founder of Voxpop, a metaverse market research company, said: “if other companies are not able to compete with Facebook and its cash, it actually gives Facebook the opportunity to create virtual reality alone. This means that we may miss something very cool.”

Meta spokesman Christopher Sgro said: “Investing in and building what consumers want is the key to success. We can’t build ‘metaverse’ alone, and cooperation with developers, creators and experts will be crucial. When investing in ‘metaverse’, we should know that at every step of this journey, we are faced with incentives from companies such as Microsoft, Google, apple, snap, Sony, roblox and epic Fierce competition.

It is reported that apple and Google are developing head display devices that can compete with meta quest, while other major players such as Microsoft and Sony are also expanding the existing AR / VR product line. For example, Microsoft recently spent $68.7 billion to acquire Activision Blizzard, one of the world’s largest game companies. This deal may have a significant impact on the development of metaverse.