Yuga Labs Bring In A New CEO From Activision Blizzard
Yuga Labs, the inventor of the Bored Ape Yacht Club, is the latest crypto startup to replace its leadership with the appointment of Daniel Alegre, former president and COO of Activision Blizzard, as CEO.
According to a press announcement, Nicole Muniz, who also owns CryptoPunks and Meebits, will remain as a partner and strategic adviser to the NFT brand. Alegre will formally commence in the early half of 2023.
Activision Blizzard is recognized for generating blockbuster games such as Call of Duty and World of Warcraft. Alegre had held the position since early 2020. Microsoft is now in the process of acquiring the company for $68.7 billion, subject to regulatory approval. The transaction was anticipated to conclude as early as 2023, but it recently encountered a snag when the US Federal Trade Commission publicly challenged it.
The move solidifies Yuga Labs’ gaming aspirations as it prepares for more testing of its Otherside metaverse, the multiplayer web3 game it is building for Bored Ape Yacht Club fans. Yuga has previously stated his desire to become the Disney of web3.
The company’s pipeline of products, partnerships, and IP represents a massive opportunity to define the metaverse in a way that empowers creators and provides users with true ownership of their identity and digital assets.said Alegre
Yuga is the latest NFT company to hire a CEO from a non-crypto industry to oversee its development plans. Julian Holguin left a key position at Billboard earlier this year to oversee the NFT collection Doodles.
It was disclosed in March that Yuga Labs received $450 million from a16z, Animoca Brands, Coinbase, and MoonPay at a valuation of $4 billion.
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