WEMIX

<p>South Korean gaming publisher Wemade and SK Group’s data and tech subsidiary SK Planet have entered into a <a href="https://www.wemade.com/PressRelese/PressReleseView/2400" rel="noopener noreferrer nofollow">strategic partnership</a> to expand their presence in the blockchain and online platform ecosystem.</p><h2 id="header-0">Blockchain integration</h2><p>The two companies plan to expand their collaboration through the use of blockchain technology, such as issuing membership non-fungible tokens (NFTs) for OK Cashbag, the membership reward program of SK Planet. They are also actively exploring joint marketing and promotional strategies by leveraging their respective technological and service capabilities.</p><p>“SK Planet is a company with long-standing marketing platforms like OK Cashbag. We believe we can achieve significant synergy through WEMIX’s partnership with SK Planet. In the future, we will contribute to the growth of the Korean market through connections such as that with Wemade’s transparent society platform <a href="https://medium.com/&#64;coinness.gl/wemade-unveils-blockchain-powered-platform-for-various-communities-5d6cb25eb85e" rel="noopener noreferrer nofollow">Wepublic</a>,” said Henry Chang, CEO of Wemade. Wemade operates the WEMIX3.0 decentralized blockchain mainnet whose native token is WEMIX.</p><p>“We expect that this partnership will bring innovation to the platform ecosystem and provide users with new experiences and customer value,” added SK Planet CEO Lee Han-sang.</p><h2 id="header-1">Strategic investments</h2><p>Notably, both companies are engaging in mutual equity investments to further accelerate their strategic alliance. Wemade and its subsidiary, Chuanqi IP, will acquire 7.08% and 5.31% stakes, respectively, in SK Planet from its parent company SK Square. The acquisition amounts to KRW 20 billion for Wemade and KRW 15 billion for Chuanqi IP, totaling KRW 35 billion (approximately $26 million).</p><p>SK Planet will acquire KRW 20 billion worth of convertible bonds issued by Wemade along with approximately KRW 15 billion worth of shares held by Wemade Chairman Park Kwan-ho, gaining a 1.27% stake in Wemade.</p><p>Chairman Kwan-Ho Park will then use the proceeds from this stock sale to purchase WEMIX in a move to support the growth and activation of the WEMIX ecosystem.</p><p>Meanwhile, Wemade plans to initiate a broad range of partnerships with other major local and international companies following its partnership with SK Planet.</p>

Wemade and SK Planet Team Up for Blockchain and Online Platform Collaboration

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