Karate Combat Raises $18 Million to Launch Gaming App and $KARATE Token on Ethereum and Hedera Networks

Karate Combat, a full-contact karate league that uses immersive computer-generated environments and extended reality (XR) technology, has raised $18 million in a funding round led by Bitkraft Ventures. Other investors include Delphi Digital, Alpha Wave Global, and RooxieXBT, among others.

The league plans to use the funds to launch a Karate Combat "Up Only Gaming" app and a $KARATE token on the Ethereum and Hedera networks on May 10. The gaming model will allow players to allocate $KARATE tokens to their favorite fighters and boost their potential prize pools beyond their contracted pay.

Karate Combat has already attracted audiences from more than 100 countries with 4.5 million followers and over 10 million views per event from its deals with major sports broadcasters. The league made the leap to Web3 in January by becoming a decentralized autonomous organization (DAO), allowing $KARATE token holders to influence the league's direction, including future fights and events.

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