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Yuga Labs isn\u2019t joking around. After launching the most successful NFT project of all time in April 2021 in the Bored Ape Yacht Club, the company has gone on to acquire and release IP licenses to holders of top NFT collections like CryptoPunks<\/a> and Meebits<\/a>. The well-established Web3 entity<\/a> has since expanded on a massive scale. Yuga has made no secret of its intentions to blow up the metaverse and blockchain gaming spheres, having announced its gamified metaverse platform Otherside in March 2022.<\/p>\n Otherside, which allows users to turn their NFTs into playable avatars in the digital space, was built in collaboration with Animoca Brands, the well-known gaming software and VC company that develops and publishes a wide spectrum of blockchain and traditional games. The narrative-driven metaverse also incorporates Improbable\u2019s MSquared platform, which features game-streaming functionality that allows users to join the metaverse from laptops and phones without the need for expensive or resource-intensive gaming setups. The message has long been clear: build out, disseminate, and lower the barrier of entry to the world of blockchain-integrated gaming in the metaverse.<\/p>\n The efforts to do just that have been increasing in frequency and intensity throughout the year. In March, the company raised $450 million in a funding round led by a16z, putting Yuga Labs at a $4 billion valuation. Bringing on the former President and COO of a major gaming competitor is a signal that Yuga is seriously invested in growing its Web3 empire, absorbing the biggest names and best talent it can in the process. Marking the occasion, Alegre chose Mutant Ape #3850<\/a> as his Web3 avatar from BAYC\u2019s second NFT collection, the Mutant Ape Yacht Club<\/a>.<\/p>\n The transfer of power from Muniz to Alegre makes perfect sense. The former has done an excellent job at scaling the company to what it is today, but navigating the metaverse gaming sphere demands some serious industry know-how. Alegre\u2019s pedigree will add some much-needed wisdom and expertise to Yuga Labs as it ramps up expansion efforts. In the press release, Yuga Labs Co-Founder Greg Solano noted that outgoing CEO Nicole Muniz has been a \u201ctrusted leader\u201d who helped set the company up for success and that she won\u2019t be \u201cgoing far,\u201d staying on as a partner and strategic advisor to help with the administrational transition and beyond.<\/p>\n In July, Yuga Labs invited 4,300 Otherdeeds metaverse land plot owners for a \u201cFirst Trip\u201d tech demo<\/a> of its immersive online platform. The company also announced<\/a> that all Otherdeeds owners and select third-party developers will be able to participate in the game\u2019s first phase.<\/p>\n \u201cI look forward to working with the passionate, creative team at Yuga to innovate, inspire, and shape the future of the internet together,\u201d said Alegre in the press release. This is a common position to take upon entering a major Web3 role, but so long as that future involves Web3-integrated gaming experiences, a Yuga-backed Alegre is as likely as anyone to make it a reality.<\/p>\n \u201cNicole, Greg, and I have been on the hunt for someone with Daniel\u2019s skill set for some time,\u201d said Yuga Labs Co-Founder Wylie Aronow in the press release. \u201cThe business, our ambitions, and the complexity of the work have grown beyond our wildest expectations. We are thrilled to have him join the team to help with our vision of a truly interoperable metaverse. Daniel has held one of the highest level roles at one of the largest gaming companies in the world. He brings valuable experience across entertainment, e-commerce, and global strategic partnerships \u2014 all of which are critical aspects of an immersive web3 world built by creators and for creators.\u201d<\/p>\n Expect Yuga Labs to head hunt more talent in the future. Adding a name like Alegre to its roster only increases the company\u2019s gravitational pull, showing Web3 and Web2 players just how committed the company is to getting its gaming universe right. With the beta version of Otherside scheduled to launch sometime in 2023, Alegre\u2019s influence couldn\u2019t have come at a better time.<\/p>\nWhat\u2019s next<\/h2>\n
But wait! There\u2019s more: <\/h3>\n<\/p><\/div>\n