According to ChainCatcher, Chosun Biz reported that South Korean video game giant Wemade plans to sell shares in its blockchain subsidiary Lightscale and resign as a major shareholder. Some interpretations say that the sale of shares is a move by Wemade to reduce its blockchain business.
As of the end of March this year, Lightscale's shares were 100% owned by Singaporean company Lightscale Holdings. Wemix Singapore owns 70% of Lightscale Holdings. Wemix Singapore Corporation is a company created by a 100% equity investment from South Korea's Wemade.
A virtual asset industry official familiar with the matter said, "We understand that Wemade is currently in contact with several venture capitalists (VCs) and is liquidating its shares. Wemade is giving up its position as a major shareholder but will not sell all of its shares invested in Lightscale."