Greg Solano, one of the masterminds behind the Bored Ape Yacht Club (BAYC) nonfungible token (NFT) collection, has taken over as the new CEO of Yuga Labs. Solano, one of the company’s founders, will be replacing Daniel Alegre, who assumed the role of CEO in April 2023.
In a post on Feb. 21, Solano confirmed his return as CEO of Yuga Labs and expressed his excitement for the upcoming chapter. He emphasized his determination to enhance BAYC’s utility through creativity and by forging new partnerships.
Solano acknowledged that the true value of BAYC lies in the community and highlighted the success of previous endeavors such as ApeFest and Made by Apes, which helped establish BAYC’s brand. He also announced the creation of a Yuga subsidiary called “BAYC LLC,” which will oversee all BAYC-related activities.
Additionally, Solano is dedicated to accelerating the development of Otherside, Yuga Labs’ upcoming metaverse project. He urged the community to actively engage with the project, stating that its success depends on their involvement.
Yuga Labs plans to host an event called “Apes Come Home” later this month, allowing fans to test out Otherside. Solano promised to provide more updates and communication about the game in the future.
Prior to Solano’s appointment, Alegre served as the president and chief operating officer of gaming giant Activision Blizzard. In his farewell post on Feb. 21, Alegre expressed gratitude to the Yuga Labs team and expressed confidence in the company’s bright future.
Following the news of Solano’s return as CEO, the floor prices of BAYC NFTs experienced a nearly 10% increase, reaching 23.85 Ether (ETH), equivalent to $69,750 at the time of publication.
Solano, along with Wylie Aronow, Zeshan Ali, and Kerem Atalay, founded Yuga Labs in February 2021. Aronow currently contributes to the company in a limited capacity due to health issues.