Yuga Labs co-founder returns as CEO, three major initiatives lead Bored Ape Yacht Club back to glory?

Bored Ape Yacht Club (BAYC) developer Yuga Labs has been active recently, not only acquiring the NFT project Moonbirds developer PROOF Collective, but also having the original founder return to lead the team.

Co-Founder of Yuga Labs Returns

The co-founder of Yuga Labs, Greg Solano, announced on the 22nd that he will be returning as the CEO, replacing Daniel Alegre, who served as CEO for about ten months and was previously the COO of Blizzard.

Activision Blizzard President Joins Yuga Labs! Appointed as CEO to Drive Metaverse Development

Greg Solano announced several strategic initiatives:

• Establishment of Yuga subsidiary BAYC LLC: to make the Bored Ape Yacht Club (BAYC) project team more autonomous and attract more talent.

• Monkeyland Otherside: Otherside aims to become a Web3 gateway and will integrate more projects in the future.

• Games: Developing game projects with greater mass market appeal.

Greg Solano hinted at the end of the article that he will be attending the NFT Paris Summit.

Well-known Bored Ape supporter, Machi Big Brother, also expressed support in the tweet comments section.

Activision Blizzard President Joins Yuga Labs! Appointed as CEO to Drive Metaverse Development

Awesome

— Machi Big Brother (@machibigbrother) February 21, 2024

BAYC Floor Price Surpasses Pudgy Penguins

The floor price of Bored Ape Yacht Club (BAYC) has long been ahead of Pudgy Penguins, but due to the continuous business promotion and development of Pudgy Penguins over the past two years, the latter briefly surpassed BAYC in floor price on the 17th.

However, with Greg Solano's return announced, the BAYC floor price has risen by nearly 10% in the past 24 hours to 23.96 ETH.

Nevertheless, the floor price of Pudgy Penguins remains high at 19.75 ETH, maintaining its position as the third largest in market value.

Pudgy Penguins Expands to 3,100 Walmart Stores, Floor Price Nears 20 ETH