WeMade Plans to Divest Shares in Lightscale: What It Means for Blockchain
South Korean gaming giant WeMade is making headlines with its recent announcement to divest its shares in Lightscale, a subsidiary focused on blockchain project development. This strategic move has caught the attention of the virtual asset industry, indicating a potential shift in WeMade’s blockchain business strategy.
Lightscale: A Key Player in Korean Blockchain Industry
Lightscale, a Korean gaming company listed on the local stock market, has been a frontrunner in developing blockchain projects and establishing itself as a significant player in the industry. With a strong focus on innovation and technological integration, Lightscale has positioned itself as a key player to watch in the Korean blockchain landscape.
– Lightscale has developed Kroma, a Layer 2 solution on Ethereum incorporating optimistic rollup (ORU) and zkEVM with permissionless validators.
– The firm was founded in 2022 by Tk Taekyu Park and Derek Junyoung Chang.
The Relationship Between WeMade and Lightscale
Kim Seok-hwan, the vice President of WeMade, holds key positions within the company, serving as the CEO of Wemix Singapore and the executive director of Lightscale Holdings. This dual role emphasizes the close relationship between WeMade and Lightscale, highlighting the subsidiary’s strategic importance within the broader business operations of WeMade.
– The potential sale of shares by WeMade could have implications for Lightscale’s operations and market positioning.
– WeMade and Lightscale have not provided any comments regarding the divestment at this time.
WeMade’s Optimism About Blockchain Gaming
WeMade expressed optimism in March about the progress of its blockchain gaming initiatives, particularly its flagship project, the WEMIX coin and platform. Despite facing challenges such as regulatory scrutiny, WeMade remains hopeful that its efforts in the blockchain space will yield positive results in the long run.
– In February, WeMade’s crypto project faced setbacks due to regulatory probes into potential “unregistered” sales on WEMIX platforms.
Hot Take: Navigating WeMade’s Blockchain Strategy Shift
As WeMade prepares to divest its shares in Lightscale, the Korean gaming industry is abuzz with speculation about the implications of this strategic move. While the full impact on Lightscale’s operations remains uncertain, the decision signals a potential shift in WeMade’s focus within the blockchain sector. Stay tuned for developments in this evolving story!
Sources:
– Naver
– Kroma.network
– Tracxn – Lightscale Founders
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