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Fortune
Fortune
Jessica Mathews

Yuga Labs’ new CEO moving forward with ‘audacious’ metaverse plans as Bored Apes pricing floor drops—but details are thin

Yuga Labs Meta Yuga Daniel Alegre metaverse Otherside Vishal Shah Fortune NFT
(Credit: Steven Vargo—Fortune)

NFT collection startup Yuga Labs’ new CEO, Daniel Alegre, has a tall task ahead of him at his new gig: rallying momentum around thousands of digital ape jpegs and CryptoPunks that once sold for millions—all while the crypto market is spiraling.

A key part of Alegre’s plan is the continued buildout of the Yuga Labs virtual world, Otherside, the CEO explained Wednesday at Fortune’s Brainstorm Tech conference in Deer Valley, Utah. These metaverse plans, which have been ongoing since Yuga’s virtual land sale in 2022, are “audacious” and will “take time,” said Alegre, who was the former president and COO of video game company Activision Blizzard before joining Yuga Labs end of last year. 

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