Greg Solano, co-founder of Yuga Labs, is set to become the CEO of the company, replacing Daniel Alegre.

Alegre, formerly COO of Activision Blizzard, held the position for approximately ten months. Yuga Labs, the creator of the renowned Bored Ape Yacht Club non-fungible token (NFT) collection and ApeCoin (APE), has also acquired notable NFT projects, including CryptoPunks, 10KTF, Meebits, and recently, the PROOF collective’s Moonbirds NFT project.

Solano’s inaugural initiatives as CEO include the establishment of a Yuga subsidiary exclusively for the Bored Ape Yacht Club, enhanced communication about the Otherside metaverse and its impending third playtest, and the development of additional gaming projects aimed at the mass market.

The leadership transition occurs as the Bored Ape Yacht Club faces heightened competition from the Pudgy Penguins project, which recently surpassed the Bored Apes in floor price.