Yuga Labs, a prominent player in the NFT industry, is undergoing a leadership change as co-founder Greg Solano takes over the role of CEO. This comes as Daniel Alegre, who previously served as CEO for about 10 months, steps aside to make way for Solano.
While Alegre and Nicole Muniz have been publicly referred to as CEOs, Solano clarifies in his announcement post that he is “stepping back in” as CEO. He hints at several upcoming projects, including the creation of a Yuga subsidiary dedicated to the Bored Ape Yacht Club, more details about the Otherside metaverse and its third playtest, and the development of game projects for a wide audience.
Yuga Labs has been strategically expanding its presence in the NFT industry. The company has acquired notable NFT projects like CryptoPunks, 10KTF, Meebits, and most recently, PROOF collective, the team behind the Moonbirds NFT project. The acquisition of Proof, a rival in the NFT space, demonstrates Yuga Labs’ calculated approach to growing its business. However, the exact acquisition price has not been disclosed. Yuga Labs has announced that Moonbirds will be integrated into its gamified metaverse play called Otherside.
Recently, the Bored Ape Yacht Club, known for its Bored Ape NFT collection and ApeCoin, has faced competition from Pudgy Penguins, another NFT collection. Pudgy Penguins briefly surpassed the Bored Apes in terms of value earlier this week.
In other crypto news, Hong Kong has attracted 18 crypto exchanges seeking licenses to operate in the region.