New Yuga Labs CEO Daniel Alegre buys a Bored Ape NFT for $90,000

Daniel Alegre, CEO of Yuga Labs — the company that created the Bored Ape Yacht Club (BYAC) — personally bought a piece from his firm's own NFT collection. BAYC is the largest blockchain collectible by market capitalization, nearing $800 million.

For a sum of 50 ether (ETH), or approximately $90,000, Alegre secured ownership of his Bored Ape — number 3575 — which is distinguished by its unique portrayal of a chimpanzee wearing sunglasses and a Sea Captain's hat. His tenure as CEO officially began on April 1.

The floor price to buy a Bored Ape NFT is currently 43 ETH ($77,500), according to CoinGecko. The art for each token is a unique combination of different traits, and holders are given creative and commercial rights to their ape images. 

Alegre made the purchase yesterday on Blur's NFT trading platform. He previously funded his Ethereum address with ether from a Coinbase account, as on-chain data from Etherscan shows.

He later publicized his new NFT acquisition on Twitter, affectionately introducing it with the caption, "To my kids: meet a new member of the family. Proud to Ape into BAYC #3575."

Alegre has adopted the avatar from his recently acquired NFT as his Twitter profile picture, a move that seems to reflect his active engagement with the NFT community and his commitment to the Bored Ape Yacht Club (BAYC) culture.

In December, Yuga Labs announced onboarding Alegre — the former president of gaming firm Activision Blizzard — to the role of CEO. He now oversees Yuga's portfolio of intellectual property, encompassing the Bored Ape Yacht Club, CryptoPunks NFT, and the Otherside metaverse platform. 

Last year, Yuga Labs closed a $450 million funding round from Andreessen Horowitz at a $4 billion valuation.