Strategic Shifts in Web3 Gaming: Yuga Labs Sells HV-MTL and Otherside to Faraway, Bolstering Faraway’s Position in the Industry

Yuga Labs Divests HV-MTL and Otherside to Faraway

This week, Yuga Labs revealed unexpectedly that it has sold the HV-MTL and Otherside brands to Faraway. The acquisition grants Faraway ownership of the intellectual properties and the majority of related NFT collections, with commitments to advance their gaming developments.

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

In addition to transferring intellectual property, there is also a shift in staff. 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 conclusively. However, considering Yuga has not extensively engaged with either game, this could potentially benefit the gaming community over time. Faraway has previously participated in Yuga's network, having developed the most recent iteration of Dookey Dash and initiating development on another project called Mara: Rise.

Faraway has quickly made progress, revealing that it will enhance several NFTs within its linked collections. Specifically, HV NFTs, along with Kodas and Kodamara, will start accumulating 'points', although the purpose of these points has not yet been disclosed. Additionally, the Koda collection will continue to be part of Yuga Labs. Both Faraway and Yuga have expressed that they value the interoperability of NFTs, though the future applications of this principle remain to be seen.

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

The official statement from Yuga Labs is available here.

Kodamara Fusion Update

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

What is Faraway?

Faraway is a studio specializing in the creation of web3 games. They developed Mini-Royale, an action-packed, browser-playable first-person shooter that incorporates NFTs on the Solana blockchain. Additionally, they launched Faraway Land, a game focused on constructing bases and crafting items that can be utilized in Mini-Royale. Faraway has also introduced 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, a digital realm designed for Mutant Ape proprietors. Following their recent purchase of HV-MTL and the Otherside, Faraway is poised to significantly enhance their reputation!

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

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