Yuga Labs has made a strategic decision to sell two of its gaming intellectual properties (IPs), HV-MTL and Legends of the Mara, to Faraway, a prominent Web3 gaming studio. This move is aimed at allowing Yuga Labs to concentrate its efforts on the development of its major projects, Otherside and Dookey Dash. By divesting these two IPs, Yuga Labs is streamlining its focus and resources to drive innovation and growth in its core projects.
Faraway, with a team of over 100 skilled professionals and backing from key investors such as Lightspeed, Sequoia, and Andreessen Horowitz (a16z), is well-positioned to take HV-MTL and Legends of the Mara to new heights. The acquisition not only marks a significant milestone for Faraway but also signifies the integration of these IPs into its existing ecosystem of interoperable games and economies. This strategic move by Faraway is expected to enhance the overall gaming experience for players and attract a broader audience to its platform.
As a part of the post-acquisition strategy, Faraway has announced the introduction of a new points system for both HV-MTL and Legends of the Mara NFTs. This system is designed to reward existing holders and attract new enthusiasts by incorporating gameplay elements and improving NFT functionalities. Holders of HV-MTL NFTs will now receive points based on various attributes such as HV’s Class, Companion, Powerscore, evolution to EVO-2, and specific Amp + Rarity type. This innovative scoring system not only adds depth to the gameplay but also increases the appeal of the NFTs to potential buyers. Similarly, all Kodas and Kodamaras from Legends of the Mara will also benefit from a new points system based on factors like Asset Type, Weapon presence, Ability Type, Role, and Tier of the originating Mara. By encouraging players to collect and utilize these NFTs within the game, Faraway is creating a more engaging and immersive gaming experience.
Faraway and Yuga Labs have expressed their commitment to close collaboration to ensure interoperability and mutual enhancement of their respective gaming IPs. Both companies share a strong focus on the Web3 gaming market, and their partnership is expected to bring fresh, innovative experiences to players and drive further growth in the industry. By leveraging Faraway’s technical expertise and Yuga Labs’ creative IPs, the collaboration aims to deliver cutting-edge and captivating content to gamers. Additionally, the synergy between the two companies is anticipated 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 by Yuga Labs marks a significant strategic shift as it redirects its attention towards its core projects. This move reflects the growing interest in Web3 gaming, with Faraway emerging as a key player in the industry. The introduction of the new points system for these IPs is set to elevate the value of the NFTs and attract a larger player base to the games. As Yuga Labs and Faraway collaborate to enrich their gaming ecosystems, we can anticipate exciting advances in the realm of Web3 gaming, reshaping the landscape of digital entertainment.
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