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Cryptocurrency News Articles

Karate Combat Plans to Launch Its UP Layer-2 Blockchain in Q1 2025

Oct 15, 2024 at 04:08 am

The new network, built on Hedera, will allow other sports, esports, and crypto projects to use its Up Only Gaming software.

Karate Combat Plans to Launch Its UP Layer-2 Blockchain in Q1 2025

Karate Combat, renowned for its cryptocurrency integration in combat sports, is venturing into the realm of layer-2 blockchain technology with the upcoming launch of its UP network in Q1 2025.

Built on the Hedera blockchain, the UP network will pave the way for other sports, esports, and crypto projects to leverage Karate Combat’s Up Only Gaming software without needing to launch tokens on Hedera.

Currently, Karate Combat is known for its KARATE token, which allows users to predict fight outcomes and earn rewards. The upcoming $UP token will be distributed to early projects, and 30% of the token supply will be allocated to KARATE stakers.

According to onlylarping, Karate Combat’s co-founder, the aim is to spread their technology to other sectors and provide tools and grants to early partners.

Karate Combat’s KC 50 Event Showcases Crypto Integration

Karate Combat recently hosted its KC 50 event at Permissionless III in Salt Lake City, Utah, which featured a fight between David Hoffman of Bankless and Kain Warwick of Infinex.

This event showcased Karate Combat’s continuous efforts to integrate cryptocurrency into combat sports. Additionally, Karate Combat plans to integrate more than 20 to 30 projects in its UP network before the official launch.

The network will span esports teams, poker tournaments, and more. According to onlylarping, the aim is to spread their Up Only Gaming software to different industries.

Karate Combat’s Layer-2 Network Vision, Partnership with Hedera

Karate Combat chose Hedera as its blockchain platform because of its strong relationship with the HBAR Foundation.

Despite Ethereum and Solana being more well-known, Hedera fully supported Karate Combat’s vision for its layer-2 network.

The UP layer-2 network will allow developers to use the Up Only Gaming software without needing to launch tokens on Hedera.

Moreover, an open-source library will help developers integrate the technology, enabling Karate Combat to expand into other sectors.

The $UP token will also support early projects by funding a grants program.

News source:coinchapter.com

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Other articles published on Nov 23, 2024