Yuga Labs has revealed its latest coup. The creative force behind the wildly popular Bored Ape Yacht Club has appointed the former Activision Blizzard President and COO Daniel Alegre as its new CEO.
Alegre’s resignation from Activision Blizzard, known for blockbuster gaming franchises such as Call of Duty and World of Warcraft, paves the way for him to lead Yuga Labs and Web3 gaming to the next level. Alegre boasts an impressive resume, reflecting his extensive experience in the gaming, entertainment, and technology sectors.
Before his tenure at Activision Blizzard, Alegre worked for nearly six years at German media giant Bertelsmann before joining Google. He held various leadership roles at Google, including managing global shopping revenue and retail ecosystem engagement.
Tremendous Opportunities
Yuga Labs announced Alegre’s appointment in December, with the seasoned executive officially joining the company on April 1. In a press release, Alegre expressed enthusiasm for Yuga Labs’ promising pipeline of products, partnerships, and intellectual property, emphasizing that they present a tremendous opportunity to shape the metaverse.
However, Yuga Labs is grappling with a class-action lawsuit filed in December. The suit alleges that the creators of the Bored Ape Yacht Club misled investors about the financial advantages of Yuga securities and accuses the company of using celebrity promoters to attract more investors. According to the law firm representing the claimants, those who purchased BAYC and CryptoPunks between April 23, 2021, and December 8, 2022, could be eligible for compensation.
Industry Insiders Weigh In
The appointment of Daniel Alegre has been widely regarded as a daring move within the NFT industry. Kieran Warwick, the co-founder of blockchain-based role-playing game Illuvium, has praised Yuga Labs’ new hire as “big for all of GameFi,” suggesting that Web3 gaming could ignite the next crypto bull run.
Lawsuits aside, Yuga Labs has been breaking ground in this space for years. The coup in landing Daniel Alegre as their new CEO highlights their continued vision and is exciting for all in the Web3 space as it makes strides in pushing main stream adoption every day.
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