TechFlow news: Wemade has announced a partnership with SK Planet, the data management and marketing platform division of South Korean company SK Square, to further develop the blockchain and platform marketplace ecosystem. The two companies will cross-invest in each other's shares to foster closer business collaboration.
Wemade and its subsidiary ChuanQi IP will purchase 7.08% and 5.31% stakes in SK Planet for 20 billion KRW and 15 billion KRW, respectively.
Simultaneously, SK Planet will acquire 20 billion KRW worth of convertible bonds issued by Wemade, along with approximately 15 billion KRW worth of shares held by Wemade Chairman Gwanho Park, securing about a 1.27% stake in Wemade.
Chairman Park will use the proceeds from the share sale to purchase WEMIX tokens, supporting the development of the WEMIX ecosystem.
The two companies plan to explore collaborative opportunities in joint marketing and promotions, entering the blockchain space through OK Cashbag NFT membership.
