Bored Ape Yacht Club sets sail for a future in gaming with new CEO
The Future. Yuga Labs is installing former Activision Blizzard executive Daniel Alegre as CEO. The move is viewed as a double down on Yuga’s commitment to gaming and entertainment as the speculative NFT market takes a nosedive. With his expertise running huge franchises at Activision Blizzard, Alegre may have the skill set to make gamers finally embrace the blockchain.
I’m the captain nowThe Bored Apes have a new alpha male.
Fast Company reports that Yuga Labs is replacing their current CEO, Nicole Muniz, with former Activision Blizzard President and COO Daniel Alegre early next year. Muniz will stay on as a strategic advisor and partner.
While at Activision Blizzard, Alegre worked on high-profile franchises such as Call of Duty, World of Warcraft, and Overwatch.
Now, his focus will most likely be overseeing current gaming and entertainment projects at the company, including a BAYC-themed gaming metaverse called Otherside and possibly a BAYC film trilogy to debut on Coinbase.
Rocky shoalsDespite completing a huge fundraising round this year for a $4 billion valuation and acquiring top NFT collection CryptoPunks, Alegre is stepping into a challenging time for the company.
It’s facing a class-action lawsuit in connection to its connection with celebrity endorsers such as Jimmy Fallon and Paris Hilton.
It’s contending with an SEC investigation into whether BAYC’s assets and its token, ApeCoin, are actually an unregistered security.
And, of course, there’s everything else going on with all things crypto and NFTs.
But maybe this is all a cakewalk for Alegre. He presided over Activision Blizzard while the gaming giant dealt with multiple lawsuits from US government agencies over the company’s problematic work culture and a litany of sexual harassment complaints.
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