Strategic Shifts in Web3 Gaming: Faraway Acquires HV-MTL and Otherside from Yuga Labs

Yuga Labs Reveals Sale of HV-MTL and Otherside to Faraway

This week, Yuga Labs made an unexpected declaration that it has sold the HV-MTL and Otherside brands to Faraway. Faraway has acquired the intellectual properties and the majority of the related NFT collections, and is committed to advancing the development of their gaming projects.

Faraway, initially launching with a straightforward online shooter game, has successfully established a presence in the gaming industry. This presence is poised to expand significantly as they integrate their recently acquired intellectual properties, HV-MTL and the Otherside!

In addition to transferring intellectual property, there will also be a staff realignment. 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 difficult to determine definitively. However, considering Yuga's limited engagement with its gaming projects so far, this shift might ultimately benefit the gaming community. Faraway, which was already a part of the Yuga network, created the most recent iteration of Dookey Dash and started developing another game called Mara: Rise.

Faraway has quickly started making enhancements, revealing new features for several NFTs within their collections. HV NFTs, along with Kodas and Kodamara, will start accruing 'points,' although the purpose of these points has not yet been disclosed. Intriguingly, the Koda collection will continue to be managed by Yuga Labs. Both Faraway and Yuga Labs have expressed that NFT interoperability is a priority for them. However, the specifics of how they plan to implement this concept remain to be seen.

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

The formal statement from Yuga Labs is available for review here.

Kodamara Fusion Introduction

Moreover, Yuga Labs has recently launched Kodamara Fusion for Otherside gamers, allowing them to upgrade their Mara by utilizing Catalysts and Sediment Fragments.

What is Faraway?

Faraway operates as a game development studio focused on web3 technologies. They developed Mini-Royale, a quick and engaging first-person shooter game accessible via web browsers that integrates NFTs on the Solana blockchain. Additionally, they have produced Faraway Land, a game centered on constructing bases and crafting items that can be utilized in Mini-Royale. Furthermore, Faraway has launched tools for creators, enabling them to design personalized skins and market them via the Faraway Shop.

Faraway has collaborated with Yuga Labs to reintroduce Dookey Dash and has developed Serum City, an online universe dedicated to Mutant Ape holders. Following their recent purchase of HV-MTL and the Otherside, Faraway is poised to significantly enhance their reputation in the industry.

For additional information on Faraway, check out their official website, follow their updates on Twitter, and connect with their community on Discord.

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