BAYC Parent Yuga Labs Hires Former Activision Blizzard's Head as Chief Executive

Call of Duty maker Activision Blizzard's chief operating officer Daniel Alegre will join Bored Ape NFT maker Yuga Labs as its chief executive, the metaverse startup said on Monday.

The announcement comes days after the Biden administration sued to block tech giant Microsoft's $69 billion (nearly Rs. 5,70,300) takeover of Activision.

Alegre, who has served as operating chief at the videogame publisher since April 2020, will succeed Nicole Muniz as Yuga's CEO in the first half of 2023. Muniz will stay on as a partner and strategic advisor to the company.

Activision did not immediately respond to a Reuters request for comment. 

"Since exploding onto the scene with Bored Ape Yacht Club in 2021, Yuga Labs has quickly made a name for itself through a powerful combination of storytelling and community-building,” Alegre said.

The startup in March said it was valued at $4 billion (nearly Rs. 33,100 crore) after a $450 million (nearly Rs. 3,700 crore) funding round led by a16z crypto, Andreessen Horowitz's crypto fund.

An NFT or a non-fungible token is a digital asset that uses blockchain technology to record who owns a digital object such as an image, video or in-game item. Bored Ape NFTs are often used as profile pictures on social media.

Back in September, Yuga Labs appointed Spencer Tucker as its Chief Gaming Officer. This was the first time that the 2021-founded Yuga Labs has hired someone dedicated to lead its gaming-related plans and initiatives. 

Previously, Tucker was the President of Games at Scopely and served as Senior Vice President of Product at Gree International Entertainment.