Karate Combat, a sports league structured as a decentralized autonomous organization, raised an $18m funding round.
The round was led by BITKRAFT Ventures, with additional participation from Delphi Digital, The Operating Group, Alpha Wave Global, Hashkey, Lattice, M13, Santiago R Santos, RookieXBT and others. Prior investors include the League’s founders, Packy McCormick’s Not Boring Capital, and Keyboard Monkey.
The company intends to use the funds for the May 10th launch of the Karate Combat App and $KARATE token.
Led by Robert Bryan, Karate Combat is the first sports league structured as a decentralized autonomous organization (“DAO”), with token holders having control over the direction of the league. On May 10th, the company will launch the Karate Combat Up Only Gaming App and $KARATE token. As part of the new app, fans can collect free $KARATE tokens. The $KARATE token both governs the League and gamifies the live viewing experience. Holders of the $KARATE token can use the league’s smart contracts, web apps and mobile apps to vote on fighters, earn additional $KARATE tokens with no risk of loss, and boost their favorite fighters’ potential prize pools, above and beyond their contracted pay.
The company is based in New York.
FinSMEs
25/04/2023