Karate Combat is going to become a promotion of the people.
Literally.
The league is planning to give fans an opportunity to own a piece of it all in what they are calling the “biggest giveaway in sports history” as they transition to a new ownership structure.
The Chicago Bulls, Tampa Bay Buccaneers, PSG and other have utilized digital tokens to deepen fan relationships. Now, Karate Combat is taking that a step further by making token holders part-owners.
$KARATE Token will be issued to registered fans in December, giving stakeholder rights and a voice in company decisions.
“We created a global professional league for karate and our groundbreaking production standards have won plaudits around the world,” Karate Combat president Adam Kovacs said. “We’ve been pioneers in everything we do and now we’re doing it again. We are absolutely certain that the DAO model is the future of professional sports and we’re taking a bold step in becoming the first global sports brand to fully adopt it.
“Our token giveaway in December will be the largest fan giveaway in the history of sports. We are literally handing out shares of ownership in a multi-million dollar company. Eventually half of the company will be owned by its own fans and fighters and I think that’s really exciting. The world is moving towards increased democracy and inclusiveness and I think the DAO model will play a central role in that.”
The token is being facilitated by the HBAR Foundation, the exclusive blockchain sponsor of Karate Combat, and utilizes the Hedera network. This sponsorship is one of the first announced deals in the HBAR Foundation’s newly announced $250,000,000 Metaverse Fund.
Karate Combat will return to action on October 29th, live from The Backlot @ Universal Studios in Orlando, Florida. Tickets are on sale now at www.karate.com/tickets.
