Yuga Labsthe startup behind Bored Ape Yacht Club (BAYC), has sold two of its fleet. Game IP To Web3 Game Studio far—The development team has been working closely with Yuga since last year.
HV-MTL and Legends of the Mara, along with their associated NFT collections, were acquired by Faraway. Faraway also added Yuga Labs’ Chief Gaming Officer. Spencer Tucker A new Chief Product Officer has been appointed to help maintain continuity as the game continues to progress in the new company.
As a result, Yuga Labs now has two gaming properties remaining in-house. ApeCoin-based metaverse game platform the other sideAnd the Bored Ape theme dookie dashFaraway recently rebuilt itself as a free-to-play game and will be released soon.
This move is clearly an attempt. Streamline the company’s focusThis is a theory synthesized by Greg Solano, co-founder and CEO of Yuga Labs. Twitter.
We have some exciting news to share. our friends @Farawaygg By acquiring the HV-MTL and LoTM brands, we will focus on rewarding these communities. To help you manage this transition @EverydayZukini I will be joining the Faraway team as our new Chief Product Officer.
More info in the thread… https://t.co/twXnFsUYG1
— Yuga Labs (@yugalabs) April 17, 2024
“This move is a step toward keeping Yuga focused on gaming in 3D Otherside, so we can tell stories there and delight people there (quickly),” Solano said. “We will have more news on that soon.”
Removing some of the gaming activity will give Yuga Labs more time and space to refocus its efforts on BAYC, CryptoPunks, and most recently Otherside and Profile Picture (PFP) NFT collections. moon bird. Solano’s post appears to suggest that Yuga Labs is taking more steps to strengthen its focus.
HV-MTL Forge While it is an NFT-based mechanical game where players manage a habitat, Legends of the Mara is a 2D adventure game connected to the Otherside. Faraway is a Web3-focused studio that has published the following games: Mini Royale: Country Mutant Ape Yacht Club Theme Serum CityDeveloped independently from Yuga.
Despite the sale of MV-MTL and Mara, Yuga Labs will continue to work closely with Faraway to “ensure interoperability.” A prime example of this is that although still owned by Yuga, Mara’s Koda creatures now contribute to the Faraway points system for newly acquired games. Players of both games will receive rewards through the Faraway system.
Solano Returned as CEO of Yuga Labs Two months ago, upon rejoining, he shared a lengthy post on Twitter that included his mission statement. The post stated that they wanted to ‘release’ the BAYC team, which had been spun off as a subsidiary, and that regarding the game, Yuga had ‘Focus more on what works.”
Both Otherside and Dookey Dash are named in the post. HV-MTL and Mara do not. However, these gaming properties are rarely kicked out of the Yuga ecosystem. In his Twitter post Wednesday, Solano emphasized that the Faraway team, especially the founders, are the best people for the job of leading the future development of these games.
“When Yuga approached me with the idea of acquiring HV-MTL and LotM, I was tempted,” Solano explained. “But when they shared the vision and made it clear that they had a plan to reward the community from day one, I agreed.”
After “more than a year” of talks between Faraway and Yuga Labs, Solano wrote that the deal has finally been completed. Faraway is now the official owner of HV-MTL and Legends of the Mara, along with a collection of NFTs related to the games. And Yuga Labs can continue to refocus its focus on its biggest games and assets.
Editor: Andrew Hayward
