Yuga Labs Sold Game IPs and NFT Market Continued to Decline

There are important developments in the crypto and NFT markets. Yuga Labs, the company that manages the Bored Ape Yacht Club (BAYC) collection, announced that it has transferred the intellectual property rights of the games HV-MTL and Legends of the Mara to the Web3 game studio Faraway. This development shows changes in the company’s strategy and its efforts to refocus. Yuga Labs and Faraway Strengthening Relationship With the joining of Yuga Labs’ Head of Games, Spencer Tucker, to Faraway, the cooperation between the two companies is increasing. This move aims to increase continuity and integration in the games. Faraway had previously developed the BAYC-themed Serum City game in collaboration with Yuga Labs. On the other hand, the games HV-MTL and Legends of the Mara expand Yuga Labs’ NFT-focused game portfolio. Legends of the Mara stands out as an adventure game included in the Otherside metaverse series. Yuga Labs emphasizes NFT […]

Yuga Labs Sold Game IPs and NFT Market Continued to Decline

There are important developments in the crypto and NFT markets. Yuga Labs, the company that manages the Bored Ape Yacht Club (BAYC) collection, announced that it has transferred the intellectual property rights of the games HV-MTL and Legends of the Mara to the Web3 game studio Faraway. This development shows changes in the company’s strategy and its efforts to refocus.

Yuga Labs and Faraway Strengthening Relationship

With the joining of Yuga Labs’ Head of Games, Spencer Tucker, to Faraway, the cooperation between the two companies is increasing. This move aims to increase continuity and integration in the games. Faraway had previously developed the BAYC-themed Serum City game in collaboration with Yuga Labs.

On the other hand, the games HV-MTL and Legends of the Mara expand Yuga Labs’ NFT-focused game portfolio. Legends of the Mara stands out as an adventure game included in the Otherside metaverse series. Yuga Labs emphasizes NFT integration and player experience in developing these games.

Decline in BAYC NFT Prices

While a general downward trend is noticeable in the NFT market, the base price of the BAYC collection has dropped by 92% in the last year. This decline reflects the volatility in the NFT market and changes in investor behavior. Despite this decline, BAYC’s position and level of interaction in the market remain high.

Useful Information

Yuga Labs strategically transferred the intellectual property rights of their games to Faraway.
The cooperation between Faraway and Yuga Labs creates new synergies in the NFT and gaming sectors.
The significant decrease in the market value of the BAYC NFT collection is an important indicator for NFT investors to evaluate market trends and risks.

In conclusion, Yuga Labs’ decision to transfer its game IPs and the downturn in BAYC’s market performance provide important information about the dynamics of the gaming and NFT sectors. These developments are among the important points to be considered in order to understand the trends in the sector and company strategies.

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