LONDON (Bywire News) – “Call of Duty” maker Activision Blizzard’s chief operating officer Daniel Alegre will join “Bored Ape” NFT maker Yuga Labs as its chief executive, the metaverse startup said on Monday.The announcement comes days after the Biden administration sued to block tech giant Microsoft’s $69 billion takeover of Activision.Alegre, who has served as operating chief at the videogame publisher since April 2020, will succeed Nicole Muniz as Yuga’s CEO in the first half of 2023. Muniz will stay on as a partner and strategic advisor to the company.Activision did not immediately respond to a request for comment.”Since exploding onto the scene with Bored Ape Yacht Club in 2021, Yuga Labs has quickly made a name for itself through a powerful combination of storytelling and community-building,” Alegre said.The startup in March said it was valued at $4 billion after a $450 million funding round led by a16z crypto, Andreessen Horowitz’s crypto fund.An NFT or a non-fungible token is a digital asset that uses blockchain technology to record who owns a digital object such as an image, video or in-game item. Bored Ape NFTs are often used as profile pictures on social media.
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The world of blockchain technology has gained a new addition, as Activision Blizzard’s chief operating officer Daniel Alegre has been named the new CEO of metaverse startup Yuga Labs. Muniz will remain with the company as a partner and strategic advisor.
The announcement comes less than a week after the Biden administration filed a lawsuit to block Microsoft’s $69 billion takeover of the videogame publisher.
Alegre, who was appointed to the role of COO in April 2020, will take over as CEO of Yuga Labs in the first half of 2023. The startup is best known for its Bored Ape Yacht Club, an NFT marketplace, and was valued at $4 billion following a $450 million funding round earlier this year.
Alegre said that Yuga Labs was gaining recognition for its storytelling and community-building capabilities. An NFT is a type of digital asset which uses blockchain technology to record ownership of digital objects, from images to in-game items. Bored Ape’s NFTs have become popular as profile pictures on social media.
Activision Blizzard has not yet responded to a request for comment. The appointment of Alegre as CEO of Yuga Labs is seen as a major step forward for the blockchain technology industry, and could lead to further investment in the sector.
(Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)