BAYC co-creator Greg Solana takes up reins as Yuga Labs CEO

Solano said he wants to prioritize the utility of Bored Ape Yacht Club NFTs and recreate a space for the “magic and crazy shit” that first made it popular.

Greg Solano, one of the creators behind the Bored Ape Yacht Club (BAYC) nonfungible token (NFT) collection, has become the new CEO of Yuga Labs.

Solano, one of the firm’s founders, will replace Daniel Alegre, who commenced his roleas CEO last April.

“I am stepping back in as CEO of Yuga Labs,” Solano confirmed in a Feb. 21 X post, adding that he’s “reinvigorated to be taking the reins for our next chapter.”

Some news to share:

I am stepping back in as CEO of Yuga Labs. 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. I’m reinvigorated to be taking the…

— Garga.eth (Greg Solano) (@CryptoGarga) February 21, 2024

Under his leadership, Yuga Labs will look to build on BAYC’s utility by being more creative and return its focus to building more partnerships, said Solano.

He noted that BAYC’s utility comes from “everybody who is in the club” and highlighted past successes that expanded BAYC’s brand — namely ApeFest and Made by Apes.

“We want to unshackle the BAYC team at Yuga as much as possible to execute against its vision. More focus, more agility. So it can do the above, and create the space for the magic and crazy shit we used to get up to more often.”

Solano revealed a new company, “BAYC LLC,” was created as a Yuga subsidiary and will be responsible for everything BAYC-related.

He’s also focused on picking up the pace with Otherside, the firm’s upcoming metaverse project.

“We’ve got a lot of work to do. The only way it gets built properly is if you all come in and experience it more often.”

Related: NFT predictions for 2024: Trends and challenges coming next year

Yuga Labs plans to host an “Apes Come Home” playtest event later this month for Otherside, with Solano promising fans more communication around the game going forward.

Curtis has a premonition. bEwAre oF gOaT.

Apes Come Home 2.29.24

Don’t miss a chance to grab your Otherside username. Create your Otherside Account: https://t.co/aqD2Hzc241.
Check out the Blog for times and more info:https://t.co/GmbHiHvbMY pic.twitter.com/kBaQm1rzvD

— Othersidemeta (@OthersideMeta) February 21, 2024

Alegre came on board Yuga Labs officially  previously served as president and chief operating officer of the gaming giant Activision Blizzard.

In a Feb. 21 X post, Alegre thanked the Yuga Labs team for his time at the helm and said the firm has a “bright future.”

BAYC floor prices bounced nearly 10% on the news of Solano’s return to CEO position, reaching $69,750, worth 23.85 Ether (ETH) at time of publication, according to NFT Price Floor.

Solano founded Yuga Labs alongside Wylie Aronow, Zeshan Ali and Kerem Atalay in February 2021.

Dope vibes at @boredcuban thanks to @MiamiBoredApe pic.twitter.com/7sGrqoz5RQ

— Roc Sol ‍ (@rocsolmiami) February 15, 2024

Aronow is currently battling health issues and is only contributing to Yuga Labs in a limited capacity.