Liu Jiaming, head of Insurance of China’s internet behemoth, Tencent, is all set to join Animoca Brands.
According to a report, Jiaming will be onboarded as Chief Business Officer (CBO) by the blockchain gaming platform.
Tencent’s microblogging site, Weibo, has reportedly confirmed the resignation of Jiaming as its executive director due to personal reasons.
At Animoca, Jiaming will be tasked with managing more than 300 of its acquisition and investment companies and leading in mergers and acquisitions, as well as foreign cooperation.
Animoca, for one, has been on an expansion spree after the bull run last year that massively catapulted blockchain-based gaming, metaverse, and the NFT sector.
As a result of the growing demand, the company invested, acquired, as well as forged partnerships with several Web3-focused firms 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 secured $75 million in a funding round in July.
Participants of the round included Liberty City Ventures, Winklevoss Capital, and Soros Fund Management.
Following the fundraising, Animoca’s valuation soared to $5.9 billion.
Doubling down on its expansion plans, the company said it will deploy the funds to hire more people, upgrade its products, and receive licenses for intellectual properties (IPs).