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Tencent’s Head of Insurance joins Animoca Brands as CBO

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).