Former President & COO of Activision to Become New Yuga Labs CEO

Daniel Alegre is set to become Yuga Labs’ new CEO in the first half of 2023 and will focus on the company’s Otherside project.

Yuga Labs has appointed the outgoing President and COO of Activision Blizzard, Daniel Alegre, as its new CEO. Alegre’s new position at Yuga Labs was announced less than 72 hours after he departed his role at the video game-holding and publishing company. His exit from Activision Blizzard (NASDAQ: ATVI) comes amid stalled developments regarding Microsoft’s (NASDAQ: MSFT) impending takeover of the Santa Monica-based company.

As the new CEO of Yuga Labs, Alegre expects to oversee several creative developments regarding the company’s intellectual property. These include the Bored Ape Yacht Club and CryptoPunks non-fungible tokens (NFTs), as well as the Otherside metaverse platform.

Commenting on Alegre’s latest executive appointment, Yuga Labs’ co-founder Wylie Aronow said:

“Daniel has held one of the highest level roles at one of the largest gaming companies in the world. He brings valuable experience across entertainment, e-commerce, and global strategic partnerships, all of which are critical aspects of an immersive Web3 world built by creators and for creators.”

Alegre previously helmed Activision Blizzard since early 2020, and his antecedents include input in developing some well-known Activision gaming brands. These include Call of Duty, Diablo, Overwatch, World of Warcraft, and Candy Crush. Furthermore, the former Activision President also spent 16 years in numerous leadership roles at Google.

Alegre Commends Yuga Labs Antecedents, Plans on Consolidating Company Strides

Also weighing in on his Yuga Labs appointment, Alegre commended the blockchain technology company for its strides in the Web3 space. According to the incoming CEO, Yuga Labs has earned its name through storytelling and community-building. In addition, he described his move to the Bored Ape Yacht Club creator as 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.”

According to Yuga Labs, Alegre will assume the CEO role in the first half of next year, with his predecessor Nicole Muniz remaining as a partner and strategic adviser. The company also stated that Alegre’s primary focus at the helm would be further developing the Otherside initiative.

Yuga Labs presently describes Otherside as a gamified metaverse that seeks to be interoperable. The project represents one of the biggest in the NFT community this year, with approximately $1.1 billion in total mint and trading volume.

While in charge of Yuga Labs, Alegre would also reportedly use Mutant Ape Yacht Club #3850 as his new profile picture.

Before announcing Alegre’s appointment, Yuga Labs’ current CEO Muniz intimated last month of the company’s plans to hire the best expertise. According to Muniz, these experienced hands would be instrumental in developing the next phase of the internet. In September, Yuga Labs onboarded mobile gaming exec Spencer Tucker as its new chief gaming officer.

Alegre to Become New CEO Shortly after FTC Lawsuit against Microsoft Acquisition Deal

Alegre’s move to Yuga Labs comes less than two weeks after the Federal Trade Commission (FTC) announced a lawsuit to block Microsoft’s acquisition of Activision. According to the Commission, the tech giant’s $69 billion takeover of the popular video game publisher could spell bad news for competitors. The reason is that Microsoft would allegedly have an unfair advantage over its contemporaries regarding the rights to Activision’s intellectual property.

next Blockchain News, Business News, Cryptocurrency news, News

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.