Animoca Brands conducts corporate reshuffle as focus on blockchain gaming market intensifies
Animoca Brands’ co-founder Yat Siu has stepped into the role of executive chairman and managing director.
Blockchain gaming company Animoca Brands has conducted a corporate reshuffle with the company’s co-founder Yat Siu becoming group executive chairman and managing director, while Evan Auyang has been appointed group president.
Additionally, Robby Yung has been named chief executive officer of the company’s US operations.
Starting out as Animoca Brands co-founder, Mr Siu served as non-executive chairman since September 2018, overseeing the gaming company’s meteoric rise including the launch of multiple proprietary games and signing over a dozen exclusive partnerships with gaming industry powerhouses such as Atari.
The company is actively amassing a portfolio of popular intellectual properties including Formula 1, Marvel, WWE, Power Rangers and MotoGP – all to be integrated into various games and its very own “gaming metaverse” in the coming months and years.
In May this year, Mr Siu steered the company to raise $113.5 million from private investors, thereby valuing the business at around $1.28 billion.
According to Animoca, Mr Siu’s leadership has helped to transform the company into a global leader in the delivery of digital property rights via blockchain and NFTs.
“Yat has provided visionary leadership in shaping Animoca Brands, not only in developing an impressive product portfolio but also in driving a successful investment strategy and providing leadership in the digital property rights ecosystem globally,” said Chris Whiteman, board member of Animoca.
Mr Whiteman added that Mr Siu’s repositioning in the expanded company was demonstrative of the company looking to “attain new heights”.
Group president
In addition to Mr Siu’s role change, Mr Auyang is taking on the role of group president, bringing extensive corporate leadership experience and “organisational scaling” across his 27 years of experience spanning finance and management consulting.
In his previous role as managing director for global expert insights firm Gerson Lehrman Group (GLG), Mr Auyang led and grew the business spanning Europe and Asia across 15 locations.
Mr Auyang is expected to leverage his knowledge and veteran experience given his service on several boards as an independent non-executive director.
According to corporate records obtained by Small Caps, Mr Auyang is currently on the boards of Sun Hung Kai & Co, Asia Financial Holdings and Urban Renewal Authority.
He is also the chairman of non-profit public policy think tank Civic Exchange and has been appointed as advisor to multiple civic, governmental and non-profit organisations including Our Hong Kong Foundation, Independent Commission Against Corruption (ICAC) and the Hong Kong Council of Social Service.
“We are pleased to have Evan join us at this exciting moment of Animoca Brands’ development. Evan has a stellar track record of delivering transformative impact across multiple organisations and industries, and he brings essential capabilities in strategic thinking, organisational leadership, and execution,” said Mr Siu.
“Animoca Brands is a global leader in the rapidly growing digital assets NFT ecosystem, and I am proud and excited to join Yat and the leadership team in shaping the company in its next stages of growth,” said Mr Auyang.
“I see endless opportunities in this space, and I feel truly privileged to be in a position to contribute to not only shaping Animoca Brands but also positively contributing to the industry,” he added.
US operational boost
To boost the company’s North American presence and increase traction in the largest video gaming market in the world, Animoca has appointed Mr Yung as chief executive officer of its US business unit.
Mr Yung has served as chief executive officer of the overarching Animoca entity since 2014, guiding the company through its sequential development and spearheading Animoca Brands’ investment and acquisition activity over the past seven years.
“I am honoured to continue building and adding to our already impressive portfolio by focusing my attention on our growing businesses in the US and Canada.”
“There are excellent opportunities to expand and shape our operations and investments in this region where gaming and digital assets ownership trends are among the most significant globally,” said Mr Yung.