Yuga Labs has sold off the intellectual property rights of two of its games to Web3 gaming firm Faraway.
Yuga Labs — the firm behind NFT collection Bored Ape Yacht Club (BAYC) — has offloaded the intellectual property for two of its games, HV-MTL and Legends of the Mara, in line with a previously announced effort to refocus the organization.
In an April 17 post to X, Yuga Labs announced that Web3 gaming studio Faraway had acquired the IP, adding that its chief gaming officer Spencer Tucker would join Faraway as the new chief product officer in a bid to ensure continuity between the games at the new firm.
HV-MTL is an NFT-oriented ‘mech’ game where players manage and level up their NFTs as well as local environments. Meanwhile, Legends of the Mara is an adventure game that functions as part of the Otherside metaverse, which was launched on April 30, 2022.