๐๐ฎ Yuga Labs, the mastermind behind the Bored Ape Yacht Club (BAYC) NFT collection, is passing the gaming torch! The company announced the sale of the intellectual property rights for two of its games, HV-MTL and Legends of the Mara, to Faraway. ๐ This is part of Yuga Labs' strategic refocus to "unshackle" its team and pursue its vision with more freedom and agility. ๐โโ๏ธ
๐ค Faraway, the new game master, is thrilled about the acquisition and plans to drive as much utility as possible to the primary NFTs that make up these collections. They're also introducing a points system to boost community engagement and reward collectors. ๐
๐น๏ธ HV-MTL is an NFT-based mech combat game, while Legends of the Mara is an adventure game that debuted in the Otherside metaverse. This handover builds upon Yuga Labs and Faraway's previous partnership, which saw Faraway develop a Mutant Ape Yacht Club-themed game titled Serum City. ๐
๐ The announcement comes amid a downturn in the broader NFT market, with flagship collections like BAYC facing significant challenges. The floor price of the BAYC collection is currently 11.5 Ether (ETH), equivalent to approximately $34,200, a steep drop from its all-time high of 153.7 ETH. ๐ฐ Despite the market turbulence, the future of these games under Faraway's leadership looks promising! ๐๐ฎ