Yuga Labs, the business responsible for creating Bored Ape Yacht Club (BAYC), has given up the ownership of two of its games, HV-MTL and Legends of the Mara, in accordance with their strategic direction to concentrate on other projects.
April 17 saw Yuga Labs revealing that Faraway, a gaming company, acquired the rights with Spencer Tucker, Yuga Labs’ gaming chief, joining Faraway’s team as its new head of product. This move aims to maintain a seamless transition between their games.
The Farawaygg team is taking over HV-MTL and LoTM brands, with plans to recognize and reward their respective communities. To facilitate this process, EverydayZukini will be coming on board as Farawaygg’s new Chief Product Officer. For more details, check out the following post.
— Yuga Labs (@yugalabs) April 17, 2024
In the futuristic world of HV-MTL, players have the ability to oversee and upgrade their NFTs. As for another game, Legends of the Mara is situated within the metaverse named Otherside.
After Greg Solano, CEO of Yuga Labs, came back to the company, he granted more autonomy to the BAYC team. His intention is that this newfound independence will enable them to concentrate more effectively and adaptably in realizing their creative goals.
Before, Faraway was involved in creating a game named Serum City. This game was linked to Yuga Labs’ Non-Fungible Token (NFT) collection, the Mutant Ape Yacht Club.
On Wednesdays recent declaration, the value of many NFTs, including popular collections like BAYC, has seen a significant decrease. The lowest cost for a BAYC NFT now is 11.7 Ether (ETH), which equates to approximately $35,400 – a massive decline of 92% from its peak price on May 1, 2022, when one BAYC NFT sold for a record-breaking 153.7 ETH or roughly $486,000.
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2024-04-18 09:40