According to local media outlet Naver, South Korean gaming giant WeMade plans to divest its stake in Lightscale, a subsidiary focused on developing blockchain projects.
The strategic move signifies Wemade’s intention to relinquish its role as a major shareholder in Lightscale. The decision has sparked interest in the virtual asset industry, suggesting that the gaming giant may be scaling back its blockchain business.
Lightscale, is a Korean-listed gaming company at the forefront of blockchain project development, positioning itself as a major player in the industry.
The company has developed Kroma, a tier-2 solution on Ethereum that integrates optimistic statement (ORU) and zkEVM with permissionless validators. The company was founded by Tk Taekyu Park and Derek Junyoung Chang in 2022.
Kim Seok-hwan, vice chairman of WeMade, is also CEO of Wemix Singapore and executive director of Lightscale Holdings. His dual role highlights the ties between the gaming giant and Lightscale, underscoring the strategic importance of the subsidiary in WeMade’s broader business operations. If the sale goes through, it could affect Lightscale’s business and its position in the market.
In March, WeMade said it hoped its massive development of blockchain-based games would begin to turn a profit. Its flagship project is the WEMIX coin and platform . WeMade, a game developer, suffered a blow in February when regulators launched an investigation into suspected “unregistered” sales on WEMIX platforms.
