Daniel Alegre became the new CEO of the company behind Bored Ape Yacht Club and CryptoPunks NFT collection. The executive resigned from Activision Blizzard on April 1 to join the NFT initiative.

Alegre stated that he could not be more excited for the next stage. The executive has overseen popular game franchises such as Call of Duty, World of Warcraft, Diablo and Candy Crush.

The manager has been appearing in the gaming, entertainment and technology sectors for many years. Before joining Google, he worked for about six months at German media conglomerate Bertelsmann, where he held various positions for more than 16 years, according to his LinkedIn profile.

Yuga Labs announced the arrival of Alegre in December. At the time, it was stated that Alegre's arrival was a great opportunity to define the metaverse.

Opportunities come with challenges. In a class-action lawsuit filed in the United States in December, BAYC creators were accused of misleading investors about the financial benefits of Yuga securities and using celebrities to do so. Rosen Law Firm claims that investors who purchased BAYC and APE between April 23, 2021 and December 8, 2022 may be entitled to compensation.

Apart from this, Yuga Labs co-founder Wylie Aronow took a leave of absence in January to prioritize his health following his diagnosis of congestive heart failure. It is unclear how long he will be able to continue his responsibilities.

Alegre's arrival was described as a bold move in the NFT industry. Kieran Warnick, co-founder of the blockchain-based RPG game Illuvium, emphasized that this step by Yuga Labs is important for the entire GameFi.