BAYC creator Yuga Labs rounds off year with new CEO from Activision Blizzard

Bored Ape Yacht Club creator Yuga Labs is the latest crypto company set to change its leadership with the appointment of Daniel Alegre, former president and COO of Activision Blizzard, as its CEO. 

The NFT brand, which also owns CryptoPunks and Meebits, has so far been shepherded by Nicole Muniz, who will stay on as a partner and strategic advisor, according to a company release. Alegre will officially start in the first half of 2023. 

Activision Blizzard is known for developing blockbuster games such as Call of Duty and World of Warcraft. Alegre had been in the seat since early 2020. The business is currently being acquired by Microsoft for $68.7 billion, pending regulatory approval. The deal was expected to close as early as 2023 but recently hit a bump in the road when the U.S. Federal Trade Commission formally opposed it. 

The hire puts a firm stake in the ground for Yuga Labs’ gaming ambitions as it prepares for additional tests of its Otherside ‘metaverse’ — the multiplayer web3 game it is developing for Bored Ape Yacht Club faithful. Yuga has previously outlined ambitions 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.

Alegre has also spent 16 years in leadership roles at Google (President of Global Retail and Shopping, President of Global and Strategic Partnerships, and President of Asia-Pacific and Japan).

“The move reinforces the notion that Yuga is doubling down on becoming the backbone of web3 gaming,” said Thomas Bialek, a research analyst focussing on NFTs at The Block Research. “Under the new leadership, efforts to proliferate the lifestyle aspects of the brand might take a backseat for now as gaming endeavors become the primary focus.”

Yuga is the latest NFT brand to bring in a CEO outside of crypto to lead its expansion ambitions. Julian Holguin moved over from a top job at Billboard earlier this year to lead NFT collection Doodles. 

Yuga has also bolstered its gaming efforts recently by hiring former Scopely executive Spencer Tucker as its chief gaming officer. 

“Nicole, Greg, and I have been on the hunt for someone with Daniel’s skill set for some time. The business, our ambitions, and the complexity of the work have grown beyond our wildest expectations,” said Yuga Labs co-founder Wylie Aronow in a statement.

In March, it was revealed that Yuga Labs raised $450 million at a $4 billion valuation from a16z, Animoca Brands, Coinbase and MoonPay.

Read more: How Bored Apes became the foundation for a metaverse

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