Yuga Labs Transfers Game IPs to Focus on Core Projects

Significant Move by Yuga Labs

HV-MTL is an NFT-focused mechanical game where players manage and develop their NFTs in local environments. Meanwhile, Legends of the Mara, launched on April 30, 2022, is an adventure game that is part of the Otherside metaverse series. Yuga Labs and Faraway have been working closely for some time; Faraway had previously developed a game themed around the Mutant Ape Yacht Club called Serum City.

The decision by the Yuga team to transfer the IP of the game to Faraway reflects a broader move to free the team from constraints, initiated by the rejoining of co-founder Greg Solano to Yuga and the appointment of Daniel Allegre as the company’s CEO in February this year. On February 22, Solano stated on X:

“We want to free the BAYC team at Yuga as much as possible to act against its vision. More focus, more agility.”

BAYC Base Price Drops 90%

The announcement on April 17 came during a broader downturn in the NFT market; the flagship BAYC collection remains among the most interacted NFTs in top collections.

Earlier this year, Yuga Labs announced on January 7 that it would acquire the controversial Moonbirds collection and hire its creator, Kevin Rose, as a consultant, which sparked anger among NFT community owners and members.

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