Daniel Alegre, who was also Activision’s chief operating officer, will take over as CEO of Yuga Labs Inc., according to Yuga’s announcement on Monday. in the first half of 2023.
Activision announced Alegre’s departure last week, saying the chief executive’s term will end when his contract expires on March 31 next year. Alegre joined Activision in April 2020 after a 16-year career at Google.
Activision is working to change its corporate culture in the wake of the 2021 sexual harassment scandal and is awaiting the results of its upcoming acquisition of Microsoft Corp. for $68.7 billion, which is disputed by the Federal Trade Commission.
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Yuga Labs is among the companies that have created a buzz during the cryptocurrency and blockchain boom in recent years. Much of that enthusiasm has faded as the industry has been plagued by the high-profile collapses of several crypto companies, including the FTX exchange.
The company, founded in 2021, was valued at $4 billion after completing a $450 million funding round in March. Alegre will replace outgoing Yuga CEO Nicole Muniz, who will remain a partner and advisor to the company.
In addition to building the popular Bored Ape NFT collection, Yuga Labs is also working on a metaverse project where virtual earth sales have raised hundreds of millions of dollars worth of cryptocurrencies.
Yuga has been involved in a number of scandals, including an investigation by the U.S. Securities and Exchange Commission into whether sales of its digital assets violate federal law. She is also the defendant in an investor lawsuit over paid promotion by celebrities of their NFTs.
Yuga Labs Lawsuit Accuses Celebrities of Paid NFT Bored Ape Promotion – Justin Bieber, Paris Hilton, Madonna and More Mentioned