Faraway acquires Yuga Labs games: HV-MTL and Legends of the Mara

The game studio Faraway announced the acquisition of HV-MTL and Legends of the Mara, small games under Yuga Labs, in order to allow the latter to focus more on its core business and navigate through the recent downturn in the NFT market.

Faraway Acquires Yuga Labs' Games

The Faraway team is acquiring the game projects HV-MTL and Legends of the Mara from Yuga Labs, incorporating these games' IPs that have generated significant industry discussion into its ecosystem.

Rampaging robots land in the world of Bored Apes! After the parkour game, eight forms of robot "HV-MTL" take over

Otherside releases the strategy game "Legends of the Mara"! A guide to gameplay mechanics, free airdrops for landowners

Faraway stated that its recent goal is to bring as much utility as possible to these related NFTs. By introducing new applications through combinability, they are currently launching a new points program.

Launching a New Points Program

The first step after the acquisition for the Faraway team is community feedback. They will introduce a new points program for HV-MTL and LoTM NFTs, but have not yet disclosed related reward details.

• HV-MTL Points: All HV holders will receive HV-MTL Points based on different conditions and levels to encourage users to upgrade to EVO-2.
• Legends of the Mara Points: Although the Otherside Koda series will remain under the Yuga brand, Kodas will still be eligible for points. All Koda and Kodamara holders will receive LoTM Points.

Faraway Strengthens Collaboration with Yuga Labs

Faraway has previously engaged in collaborations with Yuga Labs, such as assisting Yuga in launching "Dookey Dash: Unclogginged" and "Legends of the Mara: Rise," where the game teams behind these are from Faraway.

Bored Ape mini-game Dookey Dash Unclogged will be open for everyone to play

Faraway believes that with its resources, Yuga Labs' game IPs have significant growth potential. They will continue to closely collaborate with Yuga Labs in the future to ensure more cooperation opportunities for collaboration and new products.

Yuga Labs to Focus Resources on Key Projects

For both parties, the sale and collaboration seem to be more beneficial than detrimental. From Yuga Labs' perspective, they can now concentrate resources on projects like BAYC, MAYC, and Otherside to address the recent rapid price decline.

Currently, the floor price of Bored Ape Yacht Club (BAYC) has dropped to below 12 ETH, while Mutant Ape Yacht Club (MAYC) is now below 2 ETH. The Yuga Labs team has not announced any significant next steps or news, and with the current lack of interest in NFTs in the market, the prices of related projects have been hovering at low points for an extended period.

The current floor price of HV-MTL is around 0.23 ETH, with liquidity quite depleted and almost no trading records in the past month. The effectiveness of this collaboration strategy is still subject to market testing.