The purchase demonstrates Meta’s commitment to the metaverse or virtual areas where individuals may work, play, and interact. One method for entering these virtual places is to put on a virtual reality headgear, such as Meta’s Quest 2.
However, US officials have begun investigating Meta’s purchases more closely. The Federal Trade Commission said in July that it is attempting to prevent Meta from acquiring Within Unlimited, a virtual reality company that produced the VR fitness program Supernatural. The FTC claims that the transaction is unlawful and that Meta is attempting to purchase its competitors rather than compete with them. Meta argued that the acquisition would not result in anticompetitive consequences and that the FTC was sending a “chilling message” to those who wish to develop in VR. In 2014, Meta, then known as Facebook, paid at least $2 billion for VR headset company Oculus.
