[Apha Biz=(Chicago) Reporter Paul Lee] Wemade announced on the 18th that it has signed a strategic alliance with SK Planet to expand the blockchain and platform market ecosystem and invested in mutual equity.

WeMade Group has a total stake of 12.39% in SK Planet. Wemade will acquire a 7.08% stake in SK Planet for 20 billion won, and Wemade's intellectual property (IP) business subsidiary Electric IP will also acquire a 5.31% stake in SK Planet for 15 billion won.

SK Planet acquires 20 billion won worth of convertible bonds (CB) issued by WeMade. It will acquire 15 billion won worth of shares held by Wemade founder Park Kwan-ho and hold a 1.27% stake in Wemade. Chairman Park is planning to buy the virtual currency Wemix with the proceeds from the sale of the stock.

Wemade and SK Planet will take advantage of the strengths of the two companies' technology and services to seek joint marketing and promotion opportunities. It also plans to expand cooperation in membership services that introduce non-alternative token (NFT) technology in OK Cashback.

 

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