Greg Solano, co-founder of Yuga Labs, assumes CEO role, replacing Daniel Alegre. Solano unveils plans for Bored Ape Yacht Club subsidiary, Otherside metaverse. Despite the competition, Solano’s leadership signals Yuga Labs’ commitment to innovation.

In a surprising turn of events, NFT giant Yuga Labs has announced a leadership shake-up, with co-founder Greg Solano, known by the moniker Garga, taking over as the new CEO.

The development marks the departure of former Activision Blizzard executive Daniel Alegre, who held the position for around ten months.

Yuga Labs, celebrated for its Bored Ape Yacht Club NFT collection and ApeCoin, has made waves in the NFT space with strategic acquisitions, including high-profile projects like CryptoPunks, Meebits, 10KTF, and PROOF collective, the company behind the Moonbirds NFT project.

Making the announcement on X, Greg Solano hinted at a series of initiatives that outline his vision for Yuga Labs. Notable among them is the establishment of a dedicated Yuga subsidiary for the Bored Ape Yacht Club.

Going by his announcement, Solano aims to enhance communication regarding the status of the Otherside metaverse and its upcoming third playtest. Additionally, he envisions the development of gaming projects with mass-market appeal, expanding Yuga Labs’ influence beyond the NFT space.

Solano also appears undeterred, expressing his commitment to the Bored Ape community and hinting at strategic moves to secure its position in the competitive NFT landscape. The Bored Ape Yacht Club, Yuga Labs’ flagship collection, recently faced stiff competition from the Pudgy Penguins project, temporarily overshadowing the Bored Apes by floor price.

The post Yuga Labs co-founder Greg Solano takes the helm as CEO appeared first on CoinJournal.

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