The head of insurance at China’s technology giant Tencent, Liu Jiaming, is about to join Animoca Brands.
According to reports, Jiaming’s executive directorship at Tencent’s microblogging platform Weibo has been terminated for personal reasons.
Jiaming will be responsible for overseeing mergers and acquisitions, international collaboration, and the management of more than 300 of Animoca’s acquisition and investment enterprises.
After the bull run last year that significantly propelled blockchain-based gaming, metaverse, and the NFT industry, Animoca, for example, has been on an expansion frenzy.
Due to the rising demand, the company recently made investments, acquisitions, and collaborations with a number of Web3-focused businesses.
In April of this year, the Hong Kong-based gaming behemoth purchased the Australian digital firm Be Media and French game developer Eden Games.
Animoca allegedly raised $75 million in a capital round in July, despite the market downturn.
Winklevoss Capital, Liberty City Ventures, and Soros Fund Management all took part in the round.
Animoca’s value increased to $5.9 billion after the funding.