Former Tencent insurance coverage boss joins web3 powerhouse Animoca Brands – Thealike

Animoca Brands, the Hong Kong-based gaming firm and the investor behind web3 large names like The Sandbox, Sky Mavis, Dapper Labs, and OpenSea, simply acquired a expertise enhance.

Alan Lau, former CEO and chairman at Tencent’s in-house insurance coverage company WeCertain, has joined Animoca as its chief enterprise officer, Lau’s LinkedIn web page shows.

Animoca, which acquired its begin as a cellular video games developer in 2014, has in recent times grow to be one of many world’s most lively web3 buyers with a rising portfolio of over 300 corporations — each centralized and decentralized. As the chief enterprise officer, Lau will oversee Animoca’s portfolio corporations, lead mergers and acquisitions, and work on enterprise growth, his profile says.

Internet insurance coverage and the web3 world may appear to have little overlap, however Lau’s involvement in artwork — sitting on the board of Asia-based initiatives for Tate and Guggenheim Museum — may serve Animoca properly because the artwork business has been eager to embrace the metaverse and NFTs. Lau’s expertise of operating a shopper web platform with over 100 million registered customers at WeCertain may additionally lend itself to managing a big portfolio of startups.

We’ve reached out to Animoca Brands for remark.

Lau isn’t the one Tencent veteran that has made the change to web3. Benny Ho, who was beforehand inking funding offers for Tencent’s gaming unit, is now a head of enterprise growth at Animoca.

With over 700 workers worldwide, Animoca Brands jumped previous $5 billion in valuation after its $360 million funding spherical that was introduced in January. As of April, its portfolio was valued at over $1.5 billion throughout 340 investments, in line with its financial report, and its steadiness sheet had $98 million in money and $211 million value of digital property holdings on the time.

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