After opening an account on X (formerly Twitter), Jang Hyun-guk, former CEO of Wemade and co-CEO of Action Square, announced the issuance of a game coin called ‘CROSS’ based on Ethereum. This move comes just a week after his appointment as co-CEO of Action Square. On his X account, Jang stated that he plans to launch a game token protocol called ‘CROSS,’ which allows every game to issue tokens that users can own and trade. As the first step, they have issued an Ethereum-based coin named CROSS, with the total supply fixed at one billion (1B) tokens, with no further plans for additional issuance to preserve its value. He also mentioned plans to introduce a blockchain game platform based on these tokens.
Jang’s account profile now describes him as the ‘Founder of the CROSS Project.’ He plans to offer CROSS coins through an ICO (Initial Coin Offering) or IEO (Initial Exchange Offering) next month and release a related game in March. Jang expressed that the integration of blockchain and gaming is an inevitable future where eventually all games will issue their own tokens, regardless of whether they are fungible or non-fungible.
Previously, as CEO of Wemade, Jang led the cryptocurrency business by issuing ‘WEMIX’ but faced legal issues in January 2022 for allegedly falsely disclosing the circulation volume of WEMIX. He resigned in March last year. An Action Square representative clarified that the supply of CROSS coins is fixed at one billion without plans for further minting or issuance, noting that there were no issues with WEMIX’s issuance volume either.