Game Changer: Faraway Acquires HV-MTL and Otherside from Yuga Labs, Eyeing Expansion in Web3 Gaming Arena

This week, Yuga Labs unexpectedly revealed that it has sold its HV-MTL and Otherside brands to Faraway. With this acquisition, Faraway gains ownership of the intellectual properties and the majority of related NFT collections, and it plans to continue advancing their game development initiatives.

Faraway, initially launching as a basic online first-person shooter, has successfully established a presence in the gaming industry. This presence is expected to expand significantly with the integration of their recently acquired intellectual properties, HV-MTL and the Otherside!

In addition to transferring intellectual property, there will also be a staff reassignment. Spencer Tucker, previously the Chief Gaming Officer at Yuga Labs, will take on the role of Chief Product Officer at Faraway.

Is Yuga Labs shifting its focus away from web3 gaming? It's uncertain at this point. However, considering Yuga Labs' limited activity in their gaming ventures, this shift might ultimately benefit the gaming community. Previously, Faraway has been an active participant in Yuga's network. They developed the most recent iteration of Dookey Dash and initiated development on a new game called Mara: Rise.

Faraway has quickly made progress by declaring new features for certain NFTs within their linked collections. HV NFTs along with Kodas and Kodamara are set to start accruing 'points', though the purpose of these points has not yet been disclosed. Additionally, the Koda collection will continue to be managed by Yuga Labs. Both Faraway and Yuga have expressed that the ability for NFTs to operate across different platforms is a priority for them, but the specifics of how this will be implemented remain to be seen.

In this transaction, Faraway has acquired ownership of these NFT series: HV-MTL, Sewer Passes, Otherside Vessels, Otherside Maras, Otherside Kodamaras, Otherside Ship Parts, Otherside Catalyst, and Otherside Partner Loot.

Here is the official statement from Yuga Labs.

Kodamara Fusion Expansion

Moreover, Yuga Labs has recently launched the Kodamara Fusion feature for Otherside gamers, enabling them to enhance their Mara by utilizing Catalysts and Sediment Fragments.

What is Faraway?

Faraway operates as a game development company immersed in the web3 space. They developed Mini-Royale, a quick, browser-operated first-person shooter that integrates NFTs using the Solana blockchain. Additionally, they devised Faraway Land, a strategy game focused on constructing bases and crafting items compatible with Mini-Royale. Faraway has further expanded its offerings by launching tools for players to design personalized skins and market them via the Faraway Shop.

Faraway has collaborated with Yuga Labs to reintroduce Dookey Dash, and has created Serum City, an online environment dedicated to Mutant Ape proprietors. Following their latest purchase of HV-MTL and the Otherside, Faraway is now poised to significantly enhance their reputation!

For additional details on Faraway, check out their official website, follow their updates on Twitter, and connect with them on their Discord channel.

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