Yuga’s Greg Solano resumes role as CEO, pledges stronger ‘cryptonative’ focus
As part of the shakeup, Yuga Labs created BAYC LLC, a subsidiary of the company
T. Schneider/Shutterstock modified by Blockworks
Yuga Labs co-founder Greg Solano announced on Wednesday that he’s taking back the helm of CEO.
Former Activision Blizzard CEO Daniel Alegre became CEO in April of last year. Alegere had replaced Nicole Muniz, who’d served as CEO for roughly a year at the time.
“I am so grateful to have had the opportunity to lead this great team and to have connected globally with so many community members. Yuga has such a bright future,” Alegre said in a post on X.
Solano said he’s “reinvigorated to be taking the reins for our next chapter.” He, in his own post on X, detailed what the change means for Yuga.
Solano plans to “unshackle” the Bored Apes Yacht Club team.
Read more: Pudgy Penguins approach Bored Ape floor prices, buoyed by CEO’s expansive approach
“A new company, ‘BAYC LLC,’ was created as a Yuga subsidiary and will be responsible for everything BAYC. We’ve got a crack team of ninjas on the BAYC team, but there’s still a couple important roles to be filled over there,” Solano said.
The team will also ramp up Otherside communications, with plans for it to become the “default space” for users to “play and hang” with their Web3 communities.
Last October, Yuga Labs announced US layoffs as part of a restructuring plan under Alegre. At the time, Solano reiterated that Yuga Labs had over 120 employees following the reduction.
The former executive also emphasized the company’s focus on Otherside, saying “every ongoing digital connection will be part of and reinforce the Otherside evolution.”
Updated Friday, Feb. 23 at 3:30 pm ET: Clarified that Alegre officially became CEO in April.
Get the news in your inbox. Explore Blockworks newsletters:
- Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
- Empire: Start your morning with the top news and analysis to inform your day in crypto.
- Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
- 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
- Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
- The Drop: For crypto collectors and traders, covering apps, games, memes and more.
- Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
