Karate Combat, a pioneering web3 professional strike league, has exciting news for its fans and partners. The league is gearing up to launch its very own layer-2 blockchain network, UP, on the Hedera (HBAR) platform in the first quarter of 2025. This development was officially announced by the Karate Combat team on October 11.
One of the key highlights of this announcement is the licensing of Karate Combat’s software stack. This move will enable various sports leagues, teams, esports organizations, fantasy sports platforms, meme coins, and even gambling platforms to seamlessly transition to web3 through the UP layer-2 network. This strategic decision opens up a world of opportunities for partner platforms looking to embrace the benefits of blockchain technology.
Karate Combat’s existing platform, “Up Only Gaming,” boasts an impressive user base of over 100,000 active players. Participants on this platform have the chance to earn additional tokens by accurately predicting the outcomes of fights using the native token, KARATE.
The upcoming launch of the UP token in 2025 is highly anticipated. Partner platforms will have the opportunity to leverage the software stack provided by Karate Combat to create customized replica mobile apps. Additionally, Karate Combat plans to offer grants and incentives to partner organizations upon the launch of the UP token.
Early adopters and builders are in for a treat, as up to 30% of the UP tokens will be allocated to KARATE stakers. Furthermore, a strategic portion of the tokens (10%) will be dedicated to an incentive program focused on HBAR. These tokens will be utilized in liquidity pools, decentralized borrowing and lending protocols, as well as staking activities.
The partnership between Karate Combat and the HBAR Foundation is a significant milestone in the journey towards web3 adoption. The HBAR Foundation, responsible for the development of the Hedera network, is the exclusive blockchain sponsor for Karate Combat. David Cramer, Chief Operating Officer of The HBAR Foundation, commended Karate Combat for its innovative approach to incorporating blockchain technology into professional sports, stating, “As the first professional sports league governed by a token, they’ve set the bar high and pushed the boundaries of what’s possible onchain.”
With the launch of the UP layer-2 blockchain network on Hedera, Karate Combat is poised to revolutionize the sports industry and pave the way for a new era of web3 integration. Stay tuned for more updates as Karate Combat continues to lead the charge in the realm of blockchain-powered sports entertainment.