Yuga Labs Pivots Focus to ‘Otherside’, Sells NFT Games Portfolio

In a strategic move that underscores the dynamic nature of the digital gaming and NFT landscape, Yuga Labs, the innovative force behind the widely recognized Bored Ape Yacht Club (BAYC), has finalized the sale of two of its gaming intellectual properties to Faraway, a Web3 gaming studio noted for its collaborative projects with Yuga since the previous year. The properties in question, HV-MTL and Legends of the Mara, along with their accompanying NFT collections, now mark a pivotal transition as Faraway seeks to build upon the foundational work laid by Yuga. This transfer of assets is accompanied by a key personnel move—Spencer Tucker, formerly Yuga Labs’ Chief Gaming Officer, will take on the role of Chief Product Officer at Faraway, ensuring a smooth continuation of the games’ development under a new banner.

Yuga Labs retains a focused portfolio with two major projects: The ApeCoin-powered metaverse gaming platform Otherside, and the Bored Ape-themed Dookey Dash, recently redeveloped by Faraway into an imminent free-to-play offering. This strategic divestment appears to be a conscious effort by Yuga Labs to narrow its focus, a sentiment echoed by co-founder and CEO Greg Solano on Twitter, signifying a desire to concentrate resources and attention on their core ventures.

The significance of this move is multi-faceted, signaling Yuga Labs’ commitment to honing its venture into the metaverse through Otherside and sustaining its influence in the NFT space with collections like BAYC, CryptoPunks, and the newly included Moonbirds. Solano’s statements on social media allude to an upcoming phase of intensified focus for Yuga Labs, aimed at refining its operational scope and storytelling capacity within the 3D Otherside environment.

The sale encompasses HV-MTL Forge, a mech game powered by NFTs that encourages players to manage habitats, and the 2D adventure game Legends of the Mara, which ties into the Otherside universe. Faraway, a studio that has carved its niche within the Web3 space with titles like Mini Royale: Nations and Serum City, independent of Yuga Labs, now expands its portfolio with these acquisitions.

Despite the sale, the collaboration between Yuga Labs and Faraway is poised to continue, with efforts to ensure interoperability between their games. A notable instance is the inclusion of Koda creatures from Mara in the Faraway points system, enabling players of the acquired games to earn rewards within Faraway’s ecosystem.

Solano’s return as CEO two months prior brought with it a reiteration of Yuga Labs’ mission, emphasizing a streamlined focus on impactful gaming ventures. Although HV-MTL and Mara are transitioning ownership, Solano’s endorsement of Faraway’s vision and commitment to community engagement underscores a strategic partnership rather than a departure from Yuga’s ecosystem.

This development not only reflects Yuga Labs’ strategic focus but also showcases the fluid dynamics of partnerships and project evolution within the digital assets realm. As the deal concludes, Faraway takes the helm of HV-MTL and Legends of the Mara, heralding a new chapter for these properties under its stewardship, while Yuga Labs continues to recalibrate its focus on its premiere games and properties.