Yuga Labs has made a strategic decision to sell two of its gaming intellectual properties, HV-MTL and Legends of the Mara, to Faraway, a renowned Web3 gaming studio. This move is aimed at allowing Yuga Labs to concentrate its efforts on the development of its two major projects, Otherside and Dookey Dash. The shift in focus indicates a strong commitment to exploring new opportunities and expanding its presence in the Web3 gaming space.
Faraway, with a team of over 100 skilled professionals and the backing of key investors like Lightspeed, Sequoia, and Andreessen Horowitz (a16z), is well-equipped to take HV-MTL and Legends of the Mara to new heights. The acquisition marks a significant milestone for Faraway as it integrates these properties into its existing ecosystem of interoperable games and economies. This collaboration is expected to bring exciting new experiences for players and drive further growth in the Web3 gaming market.
As an immediate step post-acquisition, Faraway has introduced a new points system for both HV-MTL and Legends of the Mara NFTs. The system is designed to reward current holders and attract new enthusiasts by adding gameplay elements and enhancing NFT functionalities. Holders of HV-MTL NFTs will receive points based on various attributes, while all Kodas and Kodamaras from Legends of the Mara will also benefit from a new scoring system. These additions not only add a new layer of gameplay for existing holders but also make the NFTs more attractive to potential buyers.
Faraway and Yuga Labs have expressed their commitment to collaborating closely to ensure interoperability and mutual enhancement of their respective gaming IPs. By leveraging the strengths of both companies, this strategic partnership is expected to deliver innovative and engaging content to players. The synergy between the technical prowess of Faraway and the creative IPs of Yuga Labs promises to accelerate the adoption of NFTs and blockchain technology in gaming, ushering in a new era of digital interaction and entertainment.
The sale of HV-MTL and Legends of the Mara marks a significant shift in Yuga Labs’ strategy as it redirects its focus towards its major projects. This strategic move not only highlights the increasing interest in Web3 gaming but also emphasizes the importance of collaboration and innovation in driving growth in the industry. With Faraway’s expertise and Yuga Labs’ creative vision, the future of Web3 gaming looks promising, with exciting developments on the horizon.
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