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Building The Culture On The Blockchain Through Storytelling With Daniel Alegre, CEO Of Yuga Labs
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Building The Culture On The Blockchain Through Storytelling With Daniel Alegre, CEO Of Yuga Labs

Edge of NFT Podcast | Daniel Alegre | Yuga Labs

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In this episode of Edge of NFT, Yuga Labs CEO Daniel Alegre dives into the dynamic world of Web3 and the transformative impact it carries. The discussion delves into the unique concept of “Made by Apes,” exploring the creative and entrepreneurial endeavors of BAYC and MAYC holders, ranging from neon sign makers to whiskey producers. The CEO shares the vision behind projects like the 12-fold art collection, the ordinals movement, and strategic partnerships with Magic Eden to protect creative royalties, offering listeners an exclusive insight into the innovative landscape of Yuga Labs and the evolving narrative of Web3. Join us as we navigate the complexities of Web3, unravel the diverse offline businesses sparked by Yuga Labs’ community, and explore the future of digital innovation, art, and creativity in the crypto space. From strategic decisions during market challenges to empowering creators and narrowing down focus for success in 2024, this episode unveils the multifaceted journey of one of the most important trailblazers in the Web3 revolution.

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Building The Culture On The Blockchain Through Storytelling With Daniel Alegre, CEO Of Yuga Labs

I’m Daniel Alegre with Yuga Labs building culture on the blockchain through storytelling, experiences, and community. I’m here on the show featuring the pioneers putting culture on the blockchain. Keep reading.

Stay tuned for this episode to learn how the new CEO of Yuga Labs is continuing to catalyze the global cultural wave that began when four friends decided to create an NFT.

Also, why integrity was the most important ingredient to the rest of the success our guest experienced throughout his career.

Also, finally, why our guest gave into putting his cold Coca-Cola aside for a cold plunge the next time he’s in LA.

It’s official. You can dive into the captivating world of artificial intelligence with the show. Join us as we explore the frontiers of AI and its impact on our lives. Subscribe on your favorite platform and follow us on Twitter @EdgeOf_AI and LinkedIn for exciting updates and insights. You can also visit our new website at EdgeOfAI.xyz.

This episode features an interview with Daniel Alegre, the new CEO of Yuga Labs, a leading Web3 company known for the Bored Ape Yacht Club. Yuga Labs is at the forefront of shaping the future of Web3 through innovative storytelling, immersive experiences, and a strong community focus. Daniel brings a wealth of experience to Yuga Labs. He previously held the position of President and COO at Activision Blizzard from early 2020 to 2023.

During his tenure, he played a pivotal role in the international distribution and commercial success of major gaming franchises like Call of Duty, World of Warcraft, Diablo, Overwatch, and Candy Crush. He was instrumental in expanding the company’s gaming presence across various platforms including console, PC, and mobile, and led the growth of its international studios.

Before Activision, Daniel’s sixteen-year tenure at Google saw him lead global retail and shopping. He developed key global partnerships significantly impacting Google’s core business areas. His global influence extended to leading Google’s Asia Pacific and Japan operations and overseeing the Latin America business. Prior to Google, he was the VP at Bertelsmann Media. Yuga Labs’ mission is to harness the potential of Web3 by prioritizing imagination and innovation the company aims to redefine the utility of NFTs in the real world and advance the entire Web3 space. It’s a pleasure to have you.

It’s nice to have you. Thanks, Josh. Thanks, Richard. If you want to keep with the introduction, why don’t we do a full episode about my background and keep talking? It’s making me sound like I’m 400 years old.

That’d be like a Joe Rogan-style three-hour show if we did that. I’m game if you’re game. Let’s go. Daniel, I heard through the grapevine you’re also based in Texas like Richard.

I am. I was living in San Francisco for a long time. I relocated from New York to San Francisco back in ‘99 with some interludes in Asia, Singapore, Tokyo, and Beijing. I was almost about twenty years in the Bay Area in San Francisco. Halfway through COVID, there was this big caravan of people leaving the city. I said, “Where are you guys heading?” They said, “We’re heading down to Texas.” I packed up the kids and the dogs, got on the caravan, and ended up in Dallas. I’ve been here for two years.

The caravan is coming back to LA. There are a lot of folks coming back into the mix here. I am curious. With all those transplants from California, there’s been a lot of biohacking here in LA where people are jumping into cold baths of water randomly throughout the city. There are all these cold plunge places. Is that trend carrying forward in Texas, too?

I don’t think so. You have to remember that Texas is an oil state. The idea of something really cold is probably still very much heated with oil. I’ve heard about that. I don’t know if it’s a passing fad or not, but my grandfather who lived a long and healthy life would shower every single morning with ice cold water. He would never turn on the hot water. He espouses the wonders of it. I don’t know. Warm water is so good. Why would anyone jump into a bath of ice-cold water? Will you tell me, Josh?

I’ve been doing it for about a month. I’ve gotten up to ten minutes of this craziness. It’s usually in two rotations of hot and cold. It gives you a kick. I feel better after my workouts. I have more energy. Tony Robbins was onto something as well as your grandfather. The next time you’re in LA, I’m down to make sure you check this box like every other trendsetter in a city of ours. Come on by. Let’s do it.

To add to that quickly for the benefits, I played D1 football. During our tour days, they made us do cold baths after our stuff. There are some use cases. I know it works. It’s not ideal. I’m from Louisiana. I don’t like the cold. It works, but not my cup of tea personally.

There is also such a thing as called Coca-Cola. Coca-Cola wakes you up and gives you a lot of energy, too. I don’t know. Cold ice or a nice, cold Coca-Cola? I’m not sure which one I’m going to go for.

Choose your own adventure, which is the Web3 way. We should start by telling a little bit of the Yuga story, and then we’ll go into more of your background. I remember the day after Bored Ape Yacht Club launched, it was a couple of friends, four friends, getting together and saying, “Let’s make an NFT.” In this case, one thing led to another. You have a global company with a huge community behind it. How did that company evolve from that initial spark? How do you see it? You’ve seen a lot of companies evolve like Google and so forth. I’m curious how you look at the genesis and history of this company.

I’m amazed at how quickly this company evolved and then how it became a global company as quickly as well with having holders everywhere around the world that are passionate Web3 holders. It started with 4 friends getting together, 2 of whom are incredibly creative, Gordon and Garga. They had first the idea of the Bored Ape Yacht Club that it’s not just an NFT but it’s a community. It’s a club.

The second piece is what would you do if you were to create a brand or create this quirky artwork and give the owners of the NFT full commercial rights over the creative and do with it what they want? That is an incredibly revolutionary idea for someone like me who’s been in the media space pretty much all my life. My family is in radio. I started in the music business at BMG and Bertelsmann before joining Google. The idea that you are going to sell your IP and then let people do whatever they want with it and use it as their PFP or create a new business out of it is counter to everything of media rights that one has ever seen in the world. It’s turning IP ownership on its head.

They had a great story and a great storyline behind the Bored Ape Yacht Club. The artwork was quirky but also identifiable by so many people. To add to that, it’s community-based brand building. That’s what’s been a tremendous engine of growth, innovation, passion, and everything that you see. It’s fascinating how a company that’s two and a half years old has evolved and struck a chord, and most importantly, has been able to create what is, for me personally, the most incredibly connected and tight community that I’ve ever seen. I’ve seen some strong communities at Blizzard, people who love the Blizzard games and Google. It’s fascinating. It’s also an honor to be at the helm of this company.

In fact, what’s really interesting that you mentioned is we started the show in late March 2021. Bored Ape Yacht Club launched in April 2021. There’s some shared kinship there in terms of the timing of all this. What a rollercoaster it’s been since then.

Coming from the background, coming from Activision Blizzard and working on a lot of the household names that everyone knows from mobile phone Candy Crush to Call of Duty, you know what it means to have a strong community and what it means to build something that people are proud of to be part of that brand.

Joining back in April of 2023, back at the time, Gordon mentioned that he estimated it would take about six months for you to understand the Web3 space. Was that an accurate assessment? Was there anything else that you thought you caught on quicker than you anticipated? Is there something that’s taking longer for you to master than you anticipated?

Yeah. Is that six months crypto months? What I’m not sure about is that crypto months are shorter or longer. Is it 6 years or 6 days in normal human life? This is such a rapidly evolving space that in my view, there’s no such thing as I know it and I’m a know-it-all. There have been a few aspects of Web3 that have surprised me, particularly coming from Activision.

In Activision, if you launch a new game, let’s say a Diablo game or a World of Warcraft game, you announce it on Twitter. There’s some pickup in TikTok or YouTube, and then there’s Discord and Twitch. I wouldn’t say that you live and die by the sentiment on Discord or Twitter. You listen to it, but it’s not as prevalent as it is here in Web3. That, for me, has been one of the most interesting parts of this. It makes a lot of sense.

If you think that Web3, in addition to the utility, it provides for any industry or any kind of engagement, whether it’s in art, gaming, shopping, or video production, etc., the community and the community sentiment, I underestimated how important it was to stay connected to particularly Twitter, how passionately people feel about it, and how you have these rollercoaster rides of emotion that exist on Twitter. That, for me, has been the biggest learning. I didn’t think I’d be spending as much time as I do on Twitter, but since I’m on and listening to the feedback, getting some great ideas from people, and staying connected with the community, I realize how powerful it is.

The other one is this is such a rapidly evolving space that it’s a little bit like gaming. In gaming, there’s no such thing as the winner takes it all. If you have a great mobile game or console game, not only is it good for you from a business perspective but it’s also good for the other console game makers and all other mobile game makers because it is the hockey stick growth in gaming. Multiply that by oomph in Web3 because we’re in the very early 1st part of the 1st inning. Forget about the early innings.

This space is evolving so rapidly that I applaud innovation that not only happens at Yuga but it happens anywhere else in the space because we have a shared interest. The shared interest is to evangelize what Web3 can do and how it can transform experiences. That was also a key learning, the importance of Twitter but also the importance of supporting others in the community. That’s not only our own community but other projects because we’re all in this together. That’s making the Web3 much more useful and accessible.

We need to support others in the community because we’re all in this together. Click To Tweet

You don’t see that among big gaming players. You see it among game designers, game studios, and gaming platforms. The makers of one game are not necessarily going to reach out to the other guys and say, “How can I help you with your game?” Along with that as a student of innovation, in my former life, I was a management consultant. I did commercial innovation and government innovation. That was a big difference doing that versus having a food tech company and running sprints there. I’m curious. As you’ve stepped into this role at Yuga, you clearly have looked at release schedules and information sharing.

You looked at how Yuga does that compared to what you did previously in some of your other roles, particularly Activision, where maybe things are held a little bit closer to the vest and Web3. Have you tweaked the Yuga model to be a little bit more private in some ways or have you embraced this Web3 way fully? Do you think there’s something to learn from your experience in gaming, for example, that you’ve applied to Yuga?

I thought about this a lot. I joined Google when it was still a very small company. It was a few hundred people when I joined. The ethos at Google was to launch and iterate. It was okay that you were in alpha or beta, but you launched it out there, and then you figured out what was working and got users out there to test whether the product resonated or not.

As Google grew, and I ended up leaving Google when it was from a few hundred people to over 120,000 when I left, the development process was such that they were much more concerned about the brand and ensuring that all products were perfect. That launch-and-iterate concept was only in a few fringe areas of Google but not the core product.

You move to gaming and particularly companies of the size of Activision Blizzard where you have these mega franchises that take 2 years, 3 years, or sometimes 5 years to make hundreds of millions of dollars that are at stake. It’s hard to bring that mentality of test and innovate unless you’re working with brand new IP, launching it out there, and seeing what works.

Edge of NFT Podcast | Daniel Alegre | Yuga Labs

Yuga Labs: It’s hard to bring that mentality of test and innovate unless you’re working with brand new IP.

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The benefits of the early days of Google were that you were much more transparent and raw in what you were doing and the community. In the early days of Google, Google was seen as a true innovation engine so they gave them a lot of slack for technical errors and such. The community made the product bigger and better. There are benefits there that Yuga has done a good job with.

As you start thinking about projects like Otherside that are much more complicated in nature and much more complicated in platform tech that’s required, at that point, you need a greater level of operational rigor and discipline. It is like Call of Duty where you start 1 year thinking of what you’re going to launch 3 years from now and all the different steps that are required. It’s a much longer timeframe.

Since I joined and have had a number of new hires including Mike Seavers who was the CTO of Riot Games and Epic and Dave Rolefson who ran some of the largest partnerships at Google and was an incredible operator, we have to bring that level of operational discipline for our innovation, but we have to balance that with that startup scrappy launch and iterate fast. It’s a constant tension. I’m sure you experienced it, Josh, in your previous career.

Also, with this company and how fast the NFT space and the event space are evolving, right?

That’s right. We’re still striking that balance. We hear it from the community where they say, “Yuga is becoming much more secretive,” or, “You’re not releasing as much and not telling us as much.” We’ve tweaked that over the last couple of months. We’re much more proactive. We separated our gaming Twitter handle from the rest because, for those who weren’t necessarily passionate or interested in gaming, we were flooding their channels with that information. We’re doing, in my view, a much better job, but there’s still some work to do to ensure that people know what it is that we’re working on and that we get uncomfortable in some of our launches and go, “Here we go. Let’s see what they say.”

For me, it hearkens to the core of human psychology where, in some cases, we think we want to know more than we do. We do enjoy surprises but not all the time. It’s like, “Surprise me a little here and there,” but it depends on what else is going on in our lives. If what you guys are doing is the most exciting thing in someone’s life, they’re going to be curious.

I want to lean into that because one of the things that I thought brought a lot of joy to a lot of people initially in the Bored Ape community was that all of a sudden, mutant apes came out. If you own one, all of a sudden, you’re getting airdropped by this mutant. You’re like, “This is so cool.” The inside, I have become part of it. You’re like, “We’re building a game. We’re building other sides.” They’re like, “This is awesome. You keep building that up.” That was one of the big things that came out in 2022, and you are still working on that. Daniel, I’ve been curious. What’s been the focus on the back half of 2023 for Yuga and where a lot of your focus has been?

On a number of fronts. First, when I first joined the company, I took a much closer look at our holders, where they are, and what they’re interested in. Two things stood out. One is the Bored Ape community is strong and incredibly entrepreneurial, but also very global in nature. We had done our first two ApeFest here in the United States.

We were already going down the path of doing ApeFest in Vegas, believe it or not, for 2023. I looked at our holders and said, “What have we done for our holders in APAC?” It is and was a relatively young company, so I said, “Let’s do something unique and different in APAC not only to serve our APAC holders but also to have a very different experience for our North American holders.”

We announced that we’re going to do ApeFest in Hong Kong. That was a few months ago already. It went by fast. It was incredible to see people from everywhere around the world. Our Hong Kong, China, and Asia-based holders, everything they did for the community ended up being not only a 2-day Yuga hosted event but ended up being a 5-day community-based event that was spectacular. It is ensuring that we are connected with our global community. I spent a lot of time traveling in Europe and Asia since I joined. That was one.

The other is when I first joined, there was a lot of unhappiness in particularly the CryptoPunks world. They felt that we weren’t respecting them and supporting them, and it was all about BAYC. I realized very early on that even though we do have both holders of CryptoPunks and Bored Ape, the CryptoPunks holders care about the artistry and the elegance of what CryptoPunks means as being the first NFT collection out there.

We’ve done a lot of work elevating our overall partnerships with museums around the world. We had the Centre Pompidou in Paris. We had an exposition with CryptoPunks out there doing many more engagement events for our CryptoPunks teams and community holders. We’re in a much better place because we recognize what they stand for and what they value, and that’s great.

On the Bored Apes side of the world, honestly, I didn’t expect this, and it makes a lot of sense. If you give someone ownership over the IP and a lot of them are very entrepreneurial, they’re going to do some crazy things with them, whether they create Ape Water or Ape Whiskey, or someone who has a hamburger joint in the Philippines with their Bored Ape. That level of Made by Apes entrepreneurship is phenomenal.

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What’s next there?

What do you think, Richard?

Let’s do it.

It sounds good. Let’s do it.

Are we talking 5 figures or 6 figures?

You will.

Daniel, what is your most prized possession?

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That’s nice.

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