Karate Combat, the world’s first full-contact karate league, is giving away 50% of the company to its fans – for free.
It claims to be “the largest fan giveaway in the history of sports.”
But Karate Combat is going a step further by giving digital token holders an equity stake in the company.
MMA News – Karate Combat gives away 50% of company to fans (for free)
In December, the new ‘$KARATE’ digital token will be distributed for free to fans who have signed up to the waiting list.
Token holders will have a voice in key decisions such as fighter signings, matchmaking, event locations, partnerships and more.
Fans can also win more free tokens by successfully predicting fight outcomes.
Tokens are fully owned by their holders and can be sold or traded on crypto exchanges at any time.
Karate Combat President Adam Kovacs said: “We created a global professional league for karate and our ground-breaking production standards have won plaudits around the world.
“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.”
Shayne Higdon, co-founder and CEO at The HBAR Foundation, added: “Karate Combat’s large and rapidly growing fanbase will bring a number of new users to the Hedera network, all of whom will benefit from the network’s fixed low cost transactions, real-time settlement, high standards of security and unrivaled sustainability.”