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- 1 Daniel overtakes Nicole Muniz to become the CEO of Yuga Labs.
- 2 Daniel has great experience and perfectly fits the role.
- 3 Soon after becoming the CEO, he buys a BAYC NFT worth $90,114.50.
Daniel Alegre, the newly appointed CEO of Yuga Labs, has taken a significant step into the NFT world. He bought NFT from his firm and created a strong example for other high-profile individuals.
Daniel as CEO of Yuga Labs
Daniel Alegre was recently appointed as the CEO of Yuga Labs. Yuga Labs invented the Bored Ape Yacht Club. Recently, Daniel Alegre has taken over the ex-CEO of Yuga Labs, Nicole Muniz, who is now a strategic advisor.
Yuga’s co-founder, Wylie Aronow, stated in a press conference that he, along with Nicole and Greg, has been looking for a person with the skills of Daniel for the position. They were all looking for someone experienced in gaming or a gaming veteran for this position.
The company wanted the CEO to help with the company’s Metaverse gaming platform project, Otherside.The history and work experience of Alegre completely fits the box. He had worked at Google for 16 years as a President of Global and Strategic partnerships and has been an executive who oversaw games like Call of Duty, Candy Crush, World of Warcraft, etc.
He also was president of Activision Blizzard, which is a big name in the gaming industry.
In March, Yuga Labs, at a valuation of $4 billion, raised $450 million from Andreessen Horowitz. This occurred before the implosion of FTX, Terra’s UST, and other crypto meltdowns.
After last month’s explosion, the price of the Bored Ape Yacht Club was reduced by 82% compared to the peak in April.Daniel Alegre is not the first person to leave a role in the gaming giant and switch to crypto. Ryan Wyatt, in January, left the position of head of Youtube gaming and took the role of CEO of Polygon Studios.
Daniel owns BAYC NFT
Within a short time after Daniel’s appointment as the CEO of Yuga Labs, he purchased BAYC number 3575. BAYC number 3575 is a captain hat Bored Ape, which he purchased for 50 ETH that is equivalent to $90,114.50. BAYC is the largest blockchain, with a market capitalization of $800 million. This purchase establishes and justifies the commitment of Alegre to BAYC and Yuga Lab.
This move of Alegre buying an NFT from its own firm is considered significant. As BAYC is Yuga Lab’s premiere NFT, owning one by the company’s CEO justifies the closeness between them. This will also influence other high-profile individuals to do so.
Alegre also seems quite happy and excited after this move. He introduces Bored Ape as a new member of his family and expresses his excitement and pride using #ApeFollowApe.
This purchase of Daniel is set as a big event in the NFT space. The step of buying BAYC NFT as a CEO indicates many things. His commitment and inner happiness to join the company as well as create a wider NFT market for Bored Ape Yacht Club.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
