Kieran Warwick, co-founder of Illuvium, a blockchain role-playing game, believes Yuga Labs’ latest hire will benefit GameFi.
The appointment of one of Activision Blizzard’s highest-ranking executives to a leadership position at Yuga Labs, parent company of Bored Ape Yacht Club (BAYC), is seen as a boon for its metaverse efforts and another sign of validation for the crypto industry.
Yuga Labs confirmed on December 19 that it has appointed Daniel Alegre, the current president and chief operating officer of Activision Blizzard, as its new CEO, who will take the company’s helm in the first half of 2023, succeeding current CEO Nicole Muniz.
According to Yahoo Finance, Activision Blizzard, a gaming behemoth with a market cap of around $60 billion, is responsible for popular gaming franchises such as Call of Duty, World of Warcraft, Diablo, and Overwatch. Alegre has been in the position since 2020.
Kieran Warwick, co-founder of blockchain role-playing game Illuvium said in a Dec. 19 post that Yuga Labs new hire is “Big for all of GameFi, “Web3-powered gaming may be the catalyst for the next crypto market bull run.
“Every day, more news emerges about new traditional gaming players entering the space. DeFi 2.0 is awesome. “However, gaming will be the narrative that launches the next run,” he explained.
In a response to Warwick, Andrew Soro, VP of Global Business Development at blockchain tech company Immutable, said the appointment is a “Huge signal and validation for the space.”
NFT proponent and managing partner of NFT investment fund Sfermion Andrew Steinwold called the news “WILD.”
“Someone of that calibre entering the NFT space to lead one of the leading firms?! “This is huge news and a positive signal for our entire industry,” he said.
According to a Yuga Labs press release dated December 19, Alegre will collaborate closely with Yuga Labs founders Wylie Aronow and Greg Solano.
Wylie Aronow, co-founder of Yuga Labs, stated that they had “been on the hunt for someone with Daniel’s skill set for some time” to assist with “our vision of a truly interoperable metaverse.”
Alegre expressed excitement about the new role in a statement, noting that the company’s pipeline of products, partnerships, and intellectual property represents a “massive opportunity to define the metaverse” in a way that gives creators and users ownership of their identity and digital assets.
His contract with Blizzard will expire on March 31, 2023, at which point he will become CEO of Yuga Labs. Nicole Muniz, the current CEO of Yuga Labs, will remain as a partner and strategic advisor.
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