Recently, Yuga Labs 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 was aimed at shifting Yuga Labs’ focus towards their major projects, Otherside and Dookey Dash. Faraway, with its team of over 100 skilled professionals and strong backing from investors like Lightspeed, Sequoia, and Andreessen Horowitz (a16z), is well-prepared to take these IPs to new heights.
As part of the 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 now receive points based on a new metadata field called “HV-MTL Points,” taking into account various attributes such as HV’s Class, Companion, Powerscore, evolution to EVO-2, and specific Amp + Rarity type. This addition not only creates new gameplay opportunities for existing holders but also increases the attractiveness of the NFTs to potential buyers. Similarly, Kodas and Kodamaras from Legends of the Mara will also benefit from a new metadata field called “LoTM Points,” influenced by factors like Asset Type, Weapon presence, Ability Type, Role, and Tier of the originating Mara.
Faraway and Yuga Labs have expressed their commitment to collaborate closely post-acquisition to ensure interoperability and mutual enhancement of their respective gaming IPs. Both companies share a strong focus on the Web3 gaming market, and this collaboration is expected to bring new and exciting experiences for players while driving further growth in the industry. By leveraging the strengths of both companies, including Faraway’s technical prowess and Yuga’s creative IPs, the partnership aims to deliver innovative and engaging content to gamers. Furthermore, the synergy between the two companies is anticipated to accelerate the adoption of NFTs and blockchain technology in gaming, leading to a new era of digital interaction and entertainment.
The sale of HV-MTL and Legends of the Mara signifies a significant shift in Yuga Labs’ strategic focus towards their key projects. This move not only showcases the growing interest in Web3 gaming but also positions Faraway as a key player in the industry. The introduction of a new points system for these IPs is set to add more value to the NFTs and attract a larger player base to the games. As Yuga Labs and Faraway continue to collaborate and enhance their gaming ecosystems, we can anticipate exciting developments in the realm of Web3 gaming.