Summary
TLDR: Greg “Garga” Solano is returning as CEO of Yuga Labs, replacing Daniel Alegre. Yuga Labs recently acquired Proof and plans to integrate Moonbirds NFT collection into their upcoming Otherside metaverse game. Bored Ape Yacht Club prices have declined, but Solano aims to refocus the company with a “crypto-native focus” and more autonomy for the BAYC team. Yuga Labs plans to host an “Apes Come Home” playtest event for Otherside and focus on mainstream players while embracing “crypto-native mechanics and platforms.” Prices for Bored Ape Yacht Club NFTs spiked after the announcement.
Key Points
1. The creator of the Bored Ape Yacht Club, Greg “Garga” Solano, has returned as CEO of Yuga Labs, replacing Daniel Alegre after less than a year in the role.
2. Solano’s return coincided with Yuga Labs acquiring Proof, the digital art-centric startup behind the Moonbirds NFT collection, to integrate into its upcoming Otherside metaverse game.
3. Yuga Labs plans to give more autonomy to the Bored Ape Yacht Club team by spinning it off into a subsidiary called BAYC LLC, with a focus on a “crypto-native” approach across the entire company and positioning Otherside as the “living room of Web3.”