FTC files lawsuit against Meta over attempted monopolization of metaverse
The government watchdog previously filed a lawsuit against the social media giant in 2020 for alleged “anticompetitive conduct” in its acquisitions of WhatsApp and Instagram. The United States Federal Trade Commission, or FTC, has filed a lawsuit against Meta and CEO Mark Zuckerberg in an attempt to stop the social media giant from “its ultimate goal of owning the entire ‘metaverse’.”In a complaint filed in the Northern District of California on Wednesday, the FTC alleged Meta’s and Zuckerberg’s potential acquisition of virtual reality firm Within and its fitness app Supernatural was....
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Mark Zuckerberg's company, which posted a sharp loss in its Metaverse division in Q2, unveiled its digital asset expansion strategy on May 10, 2022. According to a Meta newsroom post updated on Thursday, the Mark Zuckerberg-led company has begun its nonfungible token (NFT) expansion across 100 countries in Africa, the Asia-Pacific, the Middle East and the Americas. This includes adding support for wallet connections with Coinbase Wallet and Dapper as well as the ability to post digital collectibles minted on the Flow blockchain. The initial rollout targets the popular social media app....
Meta, the metaverse-based platform, has announced the launch of a new wallet directed to support value interaction in the metaverse. Meta Pay, a rebrand of the former Facebook Pay service, will keep fulfilling the same functions that Facebook Pay did in the past, but will be developed as a universal way of paying for goods and services using digital identities in the metaverse.
Facebook Pay Rebrands to Meta Pay
Meta is trying to solve the problem of transaction and value interactions in the metaverse. The company announced the launch of a new digital wallet that will support the....
Meta Inc., formerly Facebook, has filed eight trademark applications relating to a wide range of crypto services and the metaverse. They include cryptocurrencies, crypto trading, blockchain software, crypto wallets, and crypto exchanges. Meta’s Trademark Filings Cover a Range of Crypto Services and the Metaverse Facebook owner Meta has filed eight new trademark applications with the United States Patent and Trademark Office (USPTO) for its logo covering a range of crypto-related products and services. A USPTO-licensed trademark attorney, Mike Kondoudis, tweeted Wednesday explaining....
Metaverse has now traversed the mainstream. On May 9, Meta Platforms Inc. will be opening its first-ever physical metaverse-themed retail store in the San Francisco Bay Area. Samsung has opened up their first physical Meta store – and Meta is following through. Suggested Reading | Samsung Throws In $25 Million In South Korean Startup DoubleMe […]
Jimmy Nguyen, president of BSV Association, hopes that Meta will take an approach that doesn’t store data within their own servers. While Meta has not yet launched its metaverse project, Bitcoin SV (BSV) association president Jimmy Nguyen thinks that it would be better for the firm to store user data on a public blockchain. In a Cointelegraph interview, Nguyen shared that a global and interoperable metaverse ecosystem would mean that individual data will be stored within a public blockchain. If Meta employs this method, Nguyen noted that Meta could become an interface that connects a....