Yuga Labs, the company behind Bored Ape Yacht Club (BAYC), has dumped the rights to two of its games, HV-MTL and Legends of the Mara, as part of their plan to shift focus.
On April 17, Yuga Labs announced that Faraway, a gaming studio, bought the rights, adding that Spencer Tucker, Yuga Labs’ gaming officer, will now work at Faraway as the head of product to ensure smooth continuity between the games.
HV-MTL lets players manage and level their NFTs in a futuristic mech-themed world. Another game, Legends of the Mara, is a part of the Otherside metaverse.
This collaboration came after Yuga Labs’ CEO, Greg Solano, returned to the company and decided to give more freedom to the BAYC team. They hope this move will allow them to focus better and be more flexible in bringing their vision to life.
Previously, Faraway had worked on a game called Serum City, based on Yuga Labs’ Mutant Ape Yacht Club NFT collection.
Wednesday’s announcement coincides with when NFTs value decreased by almost 90%. One of the most popular NFT collections, BAYC, has been hit particularly hard. Currently, the lowest price for a BAYC NFT is 11.7 Ether (ETH), equivalent to about $35,400. This is a huge drop of 92% from its highest price ever, which was 153.7 ETH on May 1, 2022.
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