Yuga Labs officially hires former Activision Blizzard executive as new CEO

Yuga Labs officially hires former Activision Blizzard executive as new CEO

Yuga Labs, the startup responsible for creating the sought-after NFT collections Bored Ape Yacht Club (BAYC), has appointed a new CEO. Daniel Alegre, who recently stepped down as President and Chief Operating Officer (COO) of Activision Blizzard, will now lead the company’s efforts to expand into the metaverse.

New leadership; no more monkey business?

Daniel Alegre has extensive leadership experience, having previously held high-ranking positions at Google and the German media conglomerate Bertelsmann.

During his time at Activision Blizzard, Alegre played a crucial role in the development and success of popular gaming franchises such as Call of Duty, World of Warcraft, and Diablo. Alegre has since taken to Twitter to announce he is finally leaving Activision Blizzard and entering a new chapter in his professional career as the CEO of Yuga Labs.

New CEO was announced back in December

Yuga Labs announced the appointment of Alegre as the company’s new CEO in December, citing the vast potential of their pipeline of products, partnerships, and intellectual property in defining the metaverse. Despite this exciting news, the company also faces several challenges.

In December, a class-action lawsuit was filed against the creators of Bored Ape Yacht Club (BAYC), alleging that they had misled investors about the financial benefits of Yuga securities and used celebrity endorsers to entice more investors. According to the Rosen Law Firm, investors who purchased BAYC and APE between April 23, 2021, and December 8, 2022, may be eligible for compensation.

Additionally, Yuga Labs co-founder Wylie Aronow has been on a leave of absence since January due to his recent diagnosis of congestive heart failure, which has prompted him to prioritize his health. It is currently uncertain when Aronow will be able to return to his responsibilities at the company.

Extensive background in the gaming industry

Alegre boasts a wealth of experience in the gaming, entertainment, and technology sectors, having held several leadership positions at Google, overseeing various areas such as global shopping revenue, retail ecosystem engagement, and operations in the Asia Pacific and Latin America regions.

According to Kieran Warwick, the co-founder of the popular blockchain role-playing game Illuvium, Yuga Labs’ appointment of Alegre as CEO is a significant move for the GameFi industry. He believes that this signals the potential for Web3 gaming to ignite the next crypto bull run.

With its popular NFT collections, Yuga Labs has established a notable presence in the industry, and Alegre’s appointment as CEO could represent a pivotal turning point for the startup. Although the company has not officially commented on Alegre’s appointment as CEO, the news has attracted significant attention from both the tech and gaming industries.

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