Karate Combat received an influx of $18 million in fundraising from BITKRAFT Ventures several weeks ago as the up and coming sport is relying on a different approach to its venture.
After a rejuvenation of interest from the “Cobra Kai” series on Netflix, the sport aims to appeal to the early-adopting fan as it is heavy into engagement, technology and a next level viewership experience.
Karate Comat’s token ($KARATE) began trading last Friday. Per John Wall Street, the enterprise valuation for the company is $80 million. As of Monday afternoon, the company had a fully diluted market cap of $164,434,326.
According to John Wall Street, BITKRAFTY “is a global investment platform for gaming and interactive entertainment with over $800 million worth of assets under management across its Web2 and Web3-focused funds.”
The league was created by tech and crypto entrepreneurs, targets a young, international demographic through cross-platform distribution, fast stand-up fights and 3D CGI backgrounds rendered in Unreal Engine.
Some of you may have caught its televised shows on CBS Sports in the U.S. and also on sports networks including Eurosport, Globo’s Canal Combate and BeIN Sports. It also uses social meda such as YouTube, TikTok, Twitter, Facebook and Kick for live distribution.
Similar (but not the same) to the UFC, it was an attractive sports investment property due to the fact it owns the league as opposed to leagues with teams that have different owners.
Similar (but not the same) to the PFL, fans can purchase tokens on a secondary exchange, gifted in marketing campaigns or won by participating in Karate Combat’s free-to-play game. These inroads to fan engagement gamify the property. It is a way to connect to a younger demo that is used to video games where you can purchase, win and receive tokens going toward some end goal.
With a robust social media following, Karate Combat hopes it can convert them into fans of the sport. Its plan is to stream its events free in addition to the distribution contracts it has. The following is growing, and investors are bullish on the prospect of the league.
Per the John Wall Street article, BITKRAFT believes that it has potential to become a billion-dollar entity.
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