Yuga Labs makes leadership adjustments following its commitment to drive more development in the industry. The announcement was made by the co-founder of Yuga Labs, Greg Solano, who revealed that he’s stepping up as the new CEO of Yuga Labs with a renewed focus on crypto-native initiatives for the company.
The co-founder expressed gratitude for the contributions and operational rigor of the outgoing CEO, Daniel, while emphasizing the need for a more cryptonative approach across the entire organization.
“I am stepping back in as CEO of Yuga Labs,” he said. “Wylie and I are grateful for all the contributions and operational rigor Daniel has brought to the company, and appreciate his thoughtfulness and mentorship over the past year.”
Yuga Labs is a Web3 and lifestyle company that creates and nurtures digital collectibles and metaverses. Founded by Gordon Goner, Gargamel, and No Sass, Yuga Labs is best known for its flagship collections, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Otherside.
Otherside is a gamified metaverse built to host Yuga Labs’ NFT brands, including BAYC, CryptoPunks, 10KTF, and Meebits. In a bid to expand its presence, it acquired Meebits and CryptoPunks from Larva Labs in March 2022.
Future of Yuga Labs
Further speaking about the change of roles, the co-founder noted that there will be more focus on the BAYC community with emphasis on the utility derived from the network. He disclosed the creation of a new company, “BAYC LLC,” as a Yuga subsidiary. The objective is to provide autonomy and agility to the BAYC team.
The new CEO also spoke about Otherside as the living room of web3 saying that it is an important aspect of the vision of Yuga Labs. He suggested a two-pronged gaming strategy, blending entertaining, widely appealing gameplay with cryptocurrency-focused features. This, Greg thinks, will draw in millions of new users and create chances for creators and professional players.
Despite acknowledging the challenges ahead, he expressed excitement about the projects in the pipeline and gratitude for the dedicated team and community that has been built over the three years since Yuga Labs’ inception.
Although in October 2023, Yuga Labs laid-off U.S. employees amid its ongoing pivot to a gaming metaverse, focusing solely on Otherside, it recently bought off rival NFT company Proof, including its team, intellectual property, and artistic portfolio to extend its reach in the Web3 space.
