coinspress.com
Yuga Labs, the NFT startup behind popular collections such as Bored Ape Yacht Club (BAYC) and CryptoPunks, announced the appointment of its new CEO, Daniel Alegre, on April 1.
Alegre left his president and chief operating officer post at Activision Blizzard to join Yuga Labs.
Today is my last day as President and COO of Activision Blizzard. Thank you to the incredible teams who create truly epic games. Tomorrow I officially start at CEO of Yuga Labs. Couldn't be more excited for this next chapter. pic.twitter.com/eo3RfIyz0q
— Daniel Alegre (@dalegre) March 31, 2023
He has been involved in the entertainment, gaming, and technology industries for many years, holding leadership positions at Google, Bertelsmann, and Activision Blizzard.
Alegre’s arrival has been considered a bold move in the NFT industry, with Kieran Warwick, co-founder of Illuvium, suggesting that it could spark the next crypto bull run.
Alegre on Yuga Labs’ potential
In December 2022, Yuga Labs announced Alegre’s arrival and expressed its optimism in his ability to help the company “define the metaverse.” In a statement at the time, Alegre said that Yuga Labs’ “pipeline of products, partnerships, and IP represents a massive opportunity.”
Potential challenges
While Blizzard’s ex President’s arrival is expected to bring new opportunities to Yuga Labs, the company also faces challenges. A class-action lawsuit filed in December 2022 accuses BAYC creators of misleading investors about the financial benefits of Yuga securities and using celebrity promoters to lure in more investors. Investors who bought BAYC and ApeCoin between April 23, 2021, and December 8, 2022, may be entitled to compensation.
Additionally, the studio’s co-founder Wylie Aronow has taken a leave of absence due to health concerns, leaving it unclear when he will be able to resume his responsibilities.
READ MORE: 5 Altcoins to Watch this Week (03.04.2023 – 09.04.2023)
Alegre’s background
Alegre’s background in gaming and technology makes him a valuable asset to Yuga Labs. Before joining the NFT startup, he played a crucial role in Activision Blizzard’s growth, overseeing popular gaming franchises like Call of Duty, World of Warcraft, Diablo, and Candy Crush.
Before joining Google, Alegre worked for Bertelsmann for nearly six years. He held various leadership positions, overseeing global shopping revenue, retail ecosystem engagement, and operations in the Asia Pacific and Latin America.
Conclusion
Yuga Labs is a popular NFT startup with a growing portfolio of successful collections, and the addition of Daniel Alegre as CEO is expected to ramp up its metaverse efforts. His experience in gaming and technology, coupled with Yuga Labs’ pipeline of products, partnerships, and IP, makes for a promising future for the company.
However, it also faces challenges, such as the ongoing class-action lawsuit and the leave of absence of co-founder Wylie Aronow. Despite these challenges, Alegre’s arrival is seen as a positive development in the NFT industry, with the potential to ignite the next crypto bull run.