Leadership Change and Surge in NFT Sales at Yuga Labs
Greg Solano, co-founder of Yuga Labs, has resumed his role as chief executive officer, leading to a surge in the company’s non-fungible token (NFT) collections.
Under outgoing CEO Daniel Alegre, Yuga Labs expanded its footprint in the metaverse and Web3 gaming sectors.
With Solano and the company’s newly announced subsidiary, BAYC LLC, Yuga is expected to concentrate on building partnerships and enhancing the utility of its NFT collections.
Sales for Bored Ape Yacht Club (BAYC), the company’s flagship NFT collection, rose 154% over the last 24 hours. Mutant Ape Yacht Club (MAYC), the BAYC spinoff NFT collection, experienced a 102% surge in sales. Otherside metaverse NFTs also saw slight gains. This resurgence comes after a period of market exhaustion that led Yuga Labs to downsize its workforce to 120 employees in October 2023. Solano’s leadership is expected to reinvigorate the company’s focus on its core offerings and drive further growth in the NFT space.
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