Animoca Brands recently raised its valuation to nearly $6 million following a funding round earlier this month.
Liu Jiaming, head of Chinese internet insurance giant Tencent, is ready to join Animoca Brands.
- According to a report, Jiaming will be brought in as the Chief Business Officer (CBO) by the blockchain gaming platform.
- Tencent’s microblogging site, Weibo, is said to have confirmed Jiaming’s resignation as chief executive officer for personal reasons.
- At Animoca, Jiaming will be tasked with managing more than 300 of its own acquisitions and investment companies and lead the way in mergers and acquisitions, as well as foreign cooperation.
- Animoca, for one, has been expanding after last year’s bull run that spawned a slew of blockchain-based games, the metaverse, and the NFT realm.
- Due to the growing demand, the company has invested, acquired, as well as consolidated partnerships with several Web3-focused companies in recent times.
- The Hong Kong-based gaming giant acquired French game developer Eden Games and Australian digital agency Be Media in April this year.
- Despite the bear market, Animoca reportedly raised $75 million in a funding round in July.
- Participants in this round include Liberty City Ventures, Winklevoss Capital and Soros Fund Management.
- After the fundraising, Animoca’s value increased to $5.9 billion.
Doubling down on its expansion plans, the company said it will deploy funds to hire more people, upgrade products, and get intellectual property licenses (IPs).