Thursday, May 23, 2024
HomeNewsFTC opposing Metaverse advancements!

FTC opposing Metaverse advancements!

Disclaimer: Here at 5minutecoins, we are providing our readers with pieces of information and details about the world of digital currencies and much more. This post is not provided to encourage you to invest, but to just give the recent and relevant details on the topic. We do not take any responsibility for your trading decisions.

Activision Blizzard’s purchase, according to Microsoft CEO and Chairman Satya Nadella, will play a crucial role in the creation of metaverse systems.

The US Federal Trade Commission (FTC) intervened. Microsoft’s effort to buy Activision Blizzard, a move that was initially intended to expand Metaverse’s ambitions, met a hurdle.

FTC’s Objection to metaverse acquisition 

To encourage competitive balance in elevated video game systems and subscription services. The FTC tried to prevent Microsoft from purchasing the gaming behemoth. 

The Federal Trade Commission claimed in a recent lawsuit that Activision Blizzard would strengthen Microsoft’s position in the high-performance gaming platform. It said Sony and Microsoft currently “dominated” with their respective XBOX and Play Station platforms.

The lawsuit predicts that Call of Duty, World of Warcraft, Diablo, and Overwatch, amongst many other titles from the Activision universe, would experience a similar conclusion. However, Microsoft’s metaverse projects somewhat impacted by FTC’s worries.

Meta faced similar opposition 

FTC against Metaverse acquisition
FTC against Metaverse acquisition

In July, the FTC sued social media powerhouse Meta, stating that its overall purpose is to dominate the whole “metaverse.”

A Meta stakeholder requested the business to reduce its annual investment in October. Brad Gerstner, CEO, and founder of digital financial services company Altimeter Capital asserts that it might take ten years for Meta’s $10 billion to $15 billion annual expenditures in the creation of the metaverse to start paying off.

Even by Silicon Valley standards, Gerstner said that an anticipated $100B+ investment in an unforeseeable world seems super-sized and dangerous.


Most Popular

Recent Comments