Greg Solano, the co-founder of NFT giant Yuga Labs known pseudonymously as Garga, has announced that he will be taking over the CEO role of the company. Exiting the role is Daniel Alegre, former COO of Activision Blizzard, who spent about ten months as CEO.
Yuga Labs is best known for its Bored Ape Yacht Club NFT collection and ApeCoin APE
-7.77%
APE
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, along with its acquisition of high-profile NFT projects CryptoPunks, 10KTF, Meebits, and, recently, PROOF collective, the company behind the Moonbirds NFT project.
Solano’s announcement post teases several of his first initiatives, including registering a separate Yuga subsidiary dedicated the Bored Ape Yacht Club, communicating more around the status of the Otherside metaverse and its upcoming third playtest, and developing other gaming projects with mass-market appeal.
The Bored Ape Yacht Club has recently faced increased competition from rival project Pudgy Penguins, which briefly flipped the Bored Apes by floor price this week.
Solano, in his post, describes “stepping back in” as CEO, though only Alegre and the CEO before him, Nicole Muniz, have been publicly referred to with that title. Yuga Labs declined a request for additional comments from The Block.
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About Author
Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF’s defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023’s biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].