Potential Implications of Adam Weitsman Acquiring HV-MTL Rights from Faraway

Adam Weitsman, a billionaire entrepreneur and known NFT collector, has been actively involved in the Yuga Labs ecosystem, particularly with the Otherside project.

In August 2025, he announced the acquisition of over 5,000 NFTs from Yuga Labs, including Otherdeeds, Mega Kodas, and Weapon Kodas, to support the Otherside metaverse. Additionally, Weitsman has expressed support for Faraway, noting in an OpenSea interview that he invested in the company due to their strong work ethic and vision.

He also acquired a rare Legendary HV-MTL #1 NFT, which was transformed from a Dookey Dash Golden Key purchased for $1.6 million. However, these actions reflect Weitsman’s role as an investor and collector, not as someone who has acquired the rights to the HV-MTL collection itself.

Faraway remains the current owner of the HV-MTL IP, integrating it into games like Shatterline and Rebel Skies. Weitsman’s high-profile involvement in the NFT space, including his purchase of over 5,000 Yuga Labs NFTs (e.g., Otherdeeds, Mega Kodas) and a $1.6 million Dookey Dash Golden Key that transformed into a Legendary HV-MTL #1, suggests he could significantly elevate HV-MTL’s profile.

His acquisition could drive renewed interest in the collection, potentially increasing its market value and trading volume, which have waned since the 2022 NFT market downturn. Weitsman’s public persona, amplified by media appearances and his social media presence, could bring mainstream attention to HV-MTL, attracting new collectors and gamers to Faraway’s ecosystem.

Integration with Otherside and Web3 Gaming

Weitsman is a vocal supporter of Yuga Labs’ Otherside metaverse, having invested heavily in its NFTs to support its development. If he acquired HV-MTL rights, he might push for deeper integration of HV-MTL mechs into Otherside, enhancing their utility as interoperable assets in the metaverse.

This could align with Faraway’s existing efforts to incorporate HV-MTL into games like Shatterline and Rebel Skies, potentially creating a more cohesive gaming ecosystem. Weitsman’s investment philosophy, which emphasizes supporting passionate teams and innovative projects, could lead to increased funding for Faraway’s Web3 gaming initiatives.

This might accelerate the development of features like tradable ecosystem rewards, creator tools, or gasless transactions, enhancing the player experience and adoption of HV-MTL in mainstream gaming. Weitsman has a history of philanthropy, such as donating his $10 million stoneware collection to the New York State Museum and supporting local charities through his businesses.

If he acquired HV-MTL rights, he might leverage the collection for community-driven initiatives, such as educational programs or charitable events within the metaverse, as he has expressed interest in making Otherside a space for children to “dream” and learn. Weitsman’s investment in Faraway was partly motivated by his belief in their team.

He could advocate for expanding Faraway’s creator tools, like those used in Serum City, allowing HV-MTL owners to create and trade custom assets, fostering a vibrant creator economy. Weitsman’s business ventures span scrap metal, real estate, and restaurants, showing his knack for diversification.

Acquiring HV-MTL rights would align with his interest in innovative industries like Web3 and could position him as a key player in the NFT and gaming sectors, further diversifying his $1 billion empire. Weitsman’s past legal troubles, including a 2004 check-kiting conviction and a 2023 EPA settlement for environmental violations, suggest he has faced scrutiny for his business practices.

Acquiring HV-MTL rights could invite regulatory or public relations challenges, especially if the acquisition involves complex IP or financial arrangements in the volatile NFT market. Faraway acquired HV-MTL and Legends of the Mara from Yuga Labs in April 2024 to integrate them into their gaming portfolio.

If Weitsman acquired these rights, Faraway might shift to a development-focused role, leveraging their expertise in Web3 gaming to execute Weitsman’s vision. Alternatively, it could signal a strategic exit for Faraway, though this seems unlikely given their recent investments in HV-MTL integration.

Yuga Labs retains influence over Otherside and the Koda collection, emphasizing interoperability with Faraway’s projects. Weitsman’s acquisition could strengthen ties between HV-MTL and Otherside, but it might also complicate Yuga’s strategy if Weitsman pursues an independent direction for HV-MTL, potentially fragmenting the ecosystem.

Weitsman’s acquisition would signal strong confidence in the long-term potential of NFTs and Web3 gaming, especially given his commitment to locking NFTs for years rather than flipping them for profit. This could inspire other high-profile investors to enter the space, countering the bearish sentiment from the 2022 NFT market crash.

The NFT market remains volatile, with HV-MTL and Otherdeed floor prices significantly lower than their 2022 peaks. Weitsman’s acquisition could either stabilize or destabilize HV-MTL’s value, depending on his execution and the broader market’s response.

Critics like Adam Hollander have expressed skepticism about Yuga’s gaming vision, which could extend to Weitsman’s plans if not clearly communicated. If Adam Weitsman were to acquire the HV-MTL collection rights from Faraway, it could revitalize the collection’s market presence, deepen its integration into Web3 gaming, and align with his philanthropic and investment goals.

His track record as a collector and supporter of Yuga Labs suggests he could drive innovation and community engagement, but risks include market volatility, regulatory scrutiny, and potential misalignment with Faraway and Yuga Labs’ strategies.