As the cryptocurrency market sees a surge in investor interest, the NFT sector remains subdued. In a significant move within the industry, Greg Solano, co-creator of the Bored Ape Yacht Club (BAYC) NFT collection, has taken over as CEO of Yuga Labs. Solano, a founding member of the company, is stepping in to succeed Daniel Alegre, who has helmed the firm since the previous April.
Strategic Vision Under New Leadership
On February 21, Solano expressed his enthusiasm on social media after reinstating himself as Yuga Labs’ CEO. Under his guiding hand, the company is setting its sights on more imaginative approaches to enrich BAYC’s value and is aiming to forge stronger partnerships. Solano stressed the collective contribution to the club’s value and recalled the brand’s growth through events like ApeFest and Made by Apes, indicating a future focus on greater team autonomy and innovative energy.
Yuga Labs Broadens its Ambitions
Additionally, Solano unveiled the creation of BAYC LLC, a Yuga Labs subsidiary dedicated to BAYC-related endeavors, and shed light on their zealously anticipated metaverse project, Otherside. He invited the community to engage more actively in building the virtual realm. This month, Yuga Labs is gearing up for an Otherside playtest called Apes Come Home, with Solano promising more updates on the game.
Alegre, formerly of Activision Blizzard, shared his gratitude for his tenure at Yuga Labs and optimism for its prospects. The announcement of Solano’s CEO position saw an approximate 10% rise in BAYC’s floor price to $69,750 or 23.85 Ethereum. Solano, along with co-founders Wylie Aronow, Zeshan Ali, and Kerem Atalay, established Yuga Labs in February 2021, with Aronow currently scaling back his active involvement due to health matters.