'Huge signal and validation' — Top Activision exec to take Yuga Labs' helm
The appointment of one of Activision Blizzard's highest-ranking executives to a leadership position at Bored Ape Yacht Club parent Yuga Labs has been seen as a boon for its metaverse efforts and another validation of the crypto industry.
On Dec. 19, Yuga Labs confirmed it has appointed Daniel Alegre — the current president and chief operating officer of Activision Blizzard — as its new CEO. He'll take the helm of the company in the first half of 2023, succeeding the current chief executive, Nicole Muniz.
Activision Blizzard, a gaming giant 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 held the role since 2020.
Kieran Warwick, the co-founder of blockchain role-playing game Illuvium, said in a Dec. 19 tweet that Yuga Labs' new hire is “Big for all of GameFi,” suggesting that the next crypto market bull run will be sparked by Web3-powered gaming.
“Every day more news comes out about new players from traditional gaming entering the space. DeFi 2.0 is cool. But gaming will be the narrative that kicks off the next run,” he explained.
Andrew Soro, vice president of global business development at blockchain tech company Immutable, had similar thoughts in a response to Warwick, noting that the appointment is a “[h]uge signal and validation for the space.”
Couldn’t agree more ser! Huge signal and validation for the space. Bullish
Nonfungible token (NFT) proponent and managing partner of NFT investment fund Sfermion Andrew Steinwold called the news “WILD.”
“Someone of that caliber jumping into the NFT space to head one of the leading companies?! Huge news & positive signal for our whole industry,” he said.
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