On July 15, South Korean video game giant Wemade plans to sell its stake in its blockchain subsidiary Lightscale and resign as a major shareholder. It has been interpreted that the sale of shares is a move by Wemade to scale back its blockchain business.
As of the end of March this year, Lightscale was 100% owned by Lightscale Holdings, a Singapore company. Wemix Singapore Corporation owns 70% of Lightscale Holdings. Wemix Singapore Corporation is a company created by 100% equity investment of South Korea's Wemade Corporation.
"We understand that Wemade is currently in contact with several venture capitalists (VCs) and is in the process of liquidating its stake, and that Wemade is relinquishing its majority shareholder status, but will not sell its entire stake in Lightscale," said a virtual asset industry official familiar with the matter.
South Korean video game giant Wemade seeks to sell its stake in blockchain subsidiary Lightscale
2024-07-15 05:47:55
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