Business
Business
FILE PHOTO: A representation of cryptocurrency Ethereum is seen next to non-fungible tokens (NFTs) of Yuga Labs "Bored Ape Yacht Club" collection displayed on its website, in this illustration picture taken March 24, 2022. REUTERS/Florence Lo/Illustration/File Photo
:”Call of Duty” maker Activision Blizzard Inc’s chief operating officer Daniel Alegre will join “Bored Ape” NFT maker Yuga Labs as its chief executive, the metaverse startup said on Monday.
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 Yuga.
Yuga’s announcement comes days after the Biden administration sued to block tech giant Microsoft’s $69 billion takeover of Activision.
Alegre notified Activision last week he plans to leave for another opportunity after his current term, which ends Mar. 31 next year, the “Diablo” maker said in a filing on Friday.
“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 said in March 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.
Be among the first to know the Breaking news
This service is not intended for persons residing in the E.U. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners.
Copyright© Mediacorp 2022. Mediacorp Pte Ltd. All rights reserved.
We know it’s a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
To continue, upgrade to a supported browser or, for the finest experience, download the mobile app.
Upgraded but still having issues? Contact us
