In a recent announcement, Yuga Labs co-founder Greg Solano, known by the pseudonym "Garga" on social media, has revealed that he will be stepping into the role of CEO. This shift comes as Daniel Alegre, the former COO of Activision Blizzard, concludes his tenure as CEO after approximately ten months.

Yuga Labs, recognized for its iconic Bored Ape Yacht Club NFT collection and ApeCoin, has recently made notable IP acquisitions, including CryptoPunks, 10KTF, Meebits, and the PROOF collective, responsible for the Moonbirds NFT project.

PROOF Acquisition

The highlight of the acquisition is the addition of Moonbirds, PROOF's leading NFT project, to Otherside, Yuga Labs' ambitious metaverse project. Alongside Moonbirds, Yuga Labs will integrate PROOF Collective, Oddities, Mythics, and Grails exhibition series into its expanding portfolio.

Following the completion of the handover, Kevin Rose, CEO & Founder of PROOF, will transition to an advisory role at Yuga Labs. Additionally, key members of the PROOF team will assume prominent positions within Yuga Labs. The transition of the Moonbirds collection and other essential elements into the Yuga ecosystem will be overseen by Josh Ong, Jesse Bryan, and Amanda Gadbow.

Kevin Rose expressed enthusiasm about the move to Otherside, emphasizing the benefits for PROOF's NFT collectors. "With the PROOF Collective on board, it shows Yuga’s commitment to digital fine art, and our combined resources will allow us to innovate faster and reach more people. It’s going to be an exciting journey," Rose said.

Big Plans for Gaming

In his announcement post, Solano hinted at several key initiatives. Notably, he plans to establish a dedicated Yuga subsidiary (“BAYC LLC”) for the Bored Ape Yacht Club. As well as provide more insights into the Otherside metaverse's progress, particularly the upcoming third playtest. He also hinted at unpacking more exclusive details on the development of gaming projects within the Yuga Labs portfolio, including the ongoing partnership with Faraway for Serum City.

The company also announced the appointment of George Yousling, former head of gaming business development at Polygon, as the new head of gaming business development at Yuga. As Yuga Labs undergoes this leadership transition, the community eagerly anticipates the implementation of Solano's outlined initiatives and the company's continued prominence in the NFT and gaming spaces.