{"id":18565,"date":"2023-05-11T20:29:26","date_gmt":"2023-05-11T20:29:26","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/collectibles\/ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000\/"},"modified":"2023-05-11T20:29:29","modified_gmt":"2023-05-11T20:29:29","slug":"ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/collectibles\/ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000\/","title":{"rendered":"Ape of Faith: Yuga Labs&#8217; New CEO Buys Bored Ape NFT for $90,000"},"content":{"rendered":"<div>\n<h2>The Alpha:<\/h2>\n<ul>\n<li>Yuga Labs\u2019 new CEO, Daniel Alegre, bought a BAYC NFT for 50 ETH (approximately $90,000).<\/li>\n<li>The purchase was slightly above the floor price at the time, and the move helps demonstrate Alegre\u2019s belief in the project and his understanding of the importance of community.<\/li>\n<\/ul>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\">\n<h2>Dive deeper:<\/h2>\n<p>Daniel Alegre, CEO of Yuga Labs, just made a splash in the NFT world. On May 10, 2023, he purchased a Bored Ape Yacht Club NFT for 50 ETH on Blur. At the time, the purchase was equal to about $90,000. Why is this so notable? When Alegre made his purchase, the floor price for Bored Ape NFTs was about 44 ETH (around $78,000), according to CoinGecko. <\/p>\n<p>In short, Alegre used his own money to buy an NFT from his own company \u2014 and he bought it for quite a bit more than he needed to.<\/p>\n<p>Through his purchase, Alegre likely hoped to demonstrate his belief in the BAYC NFT project and, more broadly, Yuga Labs\u2019 portfolio of intellectual properties. Currently, this portfolio includes nearly all of the most widely known and valuable projects in the NFT space \u2014 Bored Ape Yacht Club, Otherside, Mutant Ape Yacht Club, Bored Ape Kennel Club, CryptoPunks, and Meebits. <\/p>\n<p>The move also helps to show Alegre\u2019s understanding of how much those in the NFT space <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/Lakoz_\/status\/1656393956396244992\">value community and community interactions<\/a>. Those who are committed to an NFT project are expected to follow others in the space who are connected to the community, interact regularly, and feature an image from the community as their avatar. <\/p>\n<p>Ultimately, Alegre purchased Bored Ape #3575, which depicts a chimpanzee wearing sunglasses and a Sea Captain\u2019s hat. Shortly after his purchase, he made it his Twitter avatar. \u201cTo my kids: meet a new member of the family. Proud to Ape into BAYC #3575,\u201d he wrote on Twitter.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/figure>\n<h2 id=\"h-what-s-next\">What\u2019s next:<\/h2>\n<p>Yuga Labs closed a $450 million funding round from Andreessen Horowitz at a $4 billion valuation last year. Their goal is ultimately to create a media empire entirely centered around NFTs, starting with games and its own metaverse project (aka Otherside). At the end of 2022, Yuga Labs announced that Alegre would be joining as CEO in order to help the company fulfill its mission. <\/p>\n<p>Alegre is a fitting candidate for the role. Previously, he was the Chief Operating Officer at Activision Blizzard. There, he helped create an impressive portfolio of internationally recognized gaming brands, including <em>World of Warcraft<\/em>, <em>Call of Duty<\/em>, <em>Diablo,<\/em> <em>Overwatch<\/em>, and <em>Candy Crush<\/em>. <\/p>\n<p>The Bored Ape Yacht Club is the largest blockchain collectible by market capitalization, nearing $800 million, according to CoinGecko, and Alegre\u2019s latest move shows that the company is still going full steam ahead. <\/p>\n<h3>In case you missed it:<\/h3>\n<\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Alpha: Yuga Labs\u2019 new CEO, Daniel Alegre, bought a BAYC NFT for 50 ETH (approximately $90,000). The purchase was slightly above the floor price at the time, and the move helps demonstrate Alegre\u2019s belief in the project and his understanding of the importance of community. Dive deeper: Daniel Alegre, CEO of Yuga Labs, just [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[40],"tags":[],"class_list":["post-18565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-collectibles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ape of Faith: Yuga Labs&#039; New CEO Buys Bored Ape NFT for $90,000 | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/collectibles\/ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ape of Faith: Yuga Labs&#039; New CEO Buys Bored Ape NFT for $90,000 | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"The Alpha: Yuga Labs\u2019 new CEO, Daniel Alegre, bought a BAYC NFT for 50 ETH (approximately $90,000). The purchase was slightly above the floor price at the time, and the move helps demonstrate Alegre\u2019s belief in the project and his understanding of the importance of community. Dive deeper: Daniel Alegre, CEO of Yuga Labs, just [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/collectibles\/ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T20:29:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-11T20:29:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/05\/bayc-nft-3575-nft-now.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/collectibles\/ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/collectibles\/ape-of-faith-yuga-labs-new-ceo-buys-bored-ape-nft-for-90000\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"Ape of Faith: Yuga Labs&#8217; 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