Yuga Labs Appoints Former Activision Blizzard COO as CEO

Yuga Labs, the company behind popular NFT collections, Bored Ape Yacht Club and CryptoPunks, has announced the appointment of a new CEO, Daniel Alegre. Alegre joins the NFT startup following his resignation as the President and COO of Activision Blizzard, a gaming giant responsible for popular gaming franchises like Call of Duty, World of Warcraft, Diablo, and Candy Crush.

Alegre's LinkedIn profile indicates that he has extensive experience in the gaming, entertainment, and technology industries. He previously worked for the German media conglomerate Bertelsmann for nearly six years before joining Google, where he served in various leadership positions overseeing operations in Asia Pacific and Latin America, as well as global shopping revenue and retail ecosystem engagement.

Alegre's appointment was announced by Yuga Labs in December, and he officially joined the company on April 1. In a press release, Alegre expressed excitement about the company's pipeline of products, partnerships, and intellectual property, stating that they represent a massive opportunity to define the metaverse.

However, Yuga Labs faces a class-action lawsuit filed in the United States in December, which accuses the creators of the Bored Ape Yacht Club of misleading investors about the financial benefits of Yuga securities. The lawsuit also claims that celebrity promoters were used to lure in more investors. Investors who bought Bored Ape Yacht Club and CryptoPunks between April 23, 2021, and December 8, 2022, may be entitled to compensation, according to Rosen Law Firm.

Apart from this, Yuga Labs co-founder, Wylie Aronow, took a leave of absence in January to prioritize his health following a congestive heart failure diagnosis. It is unclear when he will be able to resume his responsibilities.

Alegre's appointment has been considered a bold move in the NFT industry. Kieran Warwick, co-founder of the blockchain role-playing game Illuvium, stated that Yuga Labs' new hire is "big for all of GameFi," suggesting that Web3 gaming will spark the next crypto bull run.

In conclusion, Yuga Labs has appointed a new CEO, Daniel Alegre, to lead its NFT startup that created the Bored Ape Yacht Club and CryptoPunks collections. Despite facing legal challenges and the absence of one of its co-founders due to health issues, Alegre's appointment has been hailed as a significant move in the NFT industry.