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Yuga Labs Sells IP Rights of Two NFT Games in Strategic Move

Yuga Labs sold the IP rights of two of its games, Legends of the Mara and HV-MTL, to Web3 gaming firm Faraway on April 17 in a strategic move designed to refocus the organization. The decision was accompanied by a key change in leadership. This move is structured to maintain continuity between the two companies and their games. Yuga Labs and Faraway have had a close partnership for a while now, with Faraway developing Serum City, a game based on the mutant Ape Yacht Club theme. Yuga’s decision to hand over its gaming IP to Faraway reflects a broader move to refocus the organization’s efforts. Co-founder Gred Solana introduced the idea when he rejoined Yuga and replaced Daniel Allegre.

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