Connect with us

Technology

KARATE COMBAT ANNOUNCES UP, A NEW LAYER 2 BLOCKCHAIN AND CRYPTO-NATIVE LICENSING PLATFORM BUILT ON HEDERA

Published

7 hours ago

on

The league also announces a 3-year strategic contract renewal with HBAR Foundation, maintaining its exclusivity as Karate Combat’s sole blockchain sponsor

GRAND CAYMAN, Cayman Islands, Oct. 11, 2024 /PRNewswire/ — Karate Combat, crypto‘s first sport and the world’s leading professional striking league, is launching UP, a Layer 2 blockchain and crypto-native software licensing platform built on Hedera, in Q1 2025. 

Karate Combat’s Up Only Gaming software stack allows $KARATE token holders to earn additional tokens, by accurately predicting Karate Combat fight outcomes. The platform has grown to 100,000  users in just over a  year. 

The software stack includes native iOS and android mobile apps, a web app and an on-chain backend. Today the league is announcing that it is licensing the software stack to any qualifying sports league, team, esport, fantasy sport, poker tournament, meme coin or gambling platform to use for free. 

Partners will be able to easily clone, customize and launch Karate Combat’s apps with zero licensing fee. Leagues and teams can launch or use their own tokens issued on any chain. Users can then access the Up Only Gaming software stack by wrapping and staking their tokens to UP on Hedera during play. 

Karate Combat will also share its 100,000 players with builders on UP through the league’s questing modules.

Further, partner organizations will have an opportunity to receive grants and incentives. UP plans to launch its own token, $UP, in 2025.  The $UP treasury will seed a grants program to incentivize early builders on the Up Only Gaming software stack. When the $UP token is launched, up to 30% of the tokens are expected to flow over time to $KARATE token stakers.

Alongside UP, Karate Combat will release H-Stack, an open source library for the rapid deployment of Layer 2 blockchains on Hedera. 10% of the total $UP token supply will be dedicated to incentivize HBAR liquidity pools, decentralized borrowing and lending on Hedera, and staking of HBAR and other Hedera tokens on UP.

Through a three-year renewal of its strategic relationship with The HBAR Foundation, the Foundation will remain the exclusive blockchain sponsor of Karate Combat. The HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, sustainability, gaming and other sectors. The renewal comes after three previous successful years of partnership since 2021.

Tonight at 7pm EST, Karate Combat will host KC 50, live at Permissioness III in Salt Lake City, Utah. As always Karate Combat’s events are broadcast for free, cross platform on Karate.com, YouTube, TikTok, X, Facebook and more.

“Karate Combat is already massively incentivized to spread its Up Only Gaming technology to other sports, esports, fantasy sports, crypto projects and more. UP is the enabling technology to not only allow us to provide all the tech for free, but to give grants and our user base to early partners,” said onlylarping, Karate Combat Co-Founder.

“We’re now in the last half of our third year partnering with Karate Combat, and it’s been incredible to see what they’ve accomplished. As the first professional sports league governed by a token, they’ve set the bar high and pushed the boundaries of what’s possible onchain. With a passionate global community, Karate Combat has become one of the most exciting and prominent consumer use cases in the space. We’re thrilled to continue supporting their game-changing impact on the sports world, bringing fans and athletes closer than ever through immersive experiences that are transforming fan engagement,” said David Cramer, COOat The HBAR Foundation.

About Karate Combat

Karate Combat is the world’s premier full-contact striking league, blending the excitement of full-contact bouts with immersive CGI environments powered by the Unreal Engine. Olympic medalists and national champions from around the world are just some of the multi-discipline athletes invited to compete in pursuit of the KC Championship belt. The league is broadcast to over 120 countries worldwide and concurrently streamed without a paywall on karate.com and other streaming services. Former UFC heavyweight champion and KC Chairman Bas Rutten hosts events alongside Georges St-Pierre, Lyoto Machida, Stephen “Wonderboy” Thompson, and “Big Mike” Majlak.

About The HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds – focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders – each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems and create and control their economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For more information, please visit https://hbarfoundation.org.

Press Contact:

Cynthia Luo, Media & Partnerships
Contact: cynthia.luo@karate.com

View original content:https://www.prnewswire.com/news-releases/karate-combat-announces-up-a-new-layer-2-blockchain-and-crypto-native-licensing-platform-built-on-hedera-302274119.html

SOURCE Karate Combat

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

X3 Holdings Receives Extension to Regain Compliance with the Nasdaq’s Minimum Bid Price Requirement

Published

54 mins ago

on

October 11, 2024

By

SINGAPORE, Oct. 11, 2024 /PRNewswire/ — X3 Holdings Co., Ltd. (Nasdaq: XTKG) (the “Company” or “XTKG”), a global provider of digital solutions and technology services spanning diverse industries, today announced that it has received an extension of 180 calendar days from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) to regain compliance with the Nasdaq’s minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the “Bid Price Requirement”). As a result of the extension, the Company has until April 7, 2025, to regain compliance with the Bid Price Requirement. To regain compliance, the closing bid price of the Company’s ordinary shares must be at least US$1.00 for a minimum of 10 consecutive business days prior to April 7, 2025. Nasdaq would then provide a written confirmation of compliance and the matter will be closed.

To address this issue, the Company intends to continuously monitor its closing bid price and to effectuate a reverse stock split, subject to the shareholders’ approval at the annual general meeting, which will be convened on November 4, 2024. Upon the approval and completion of the reverse stock spilt, the Company expects that it will countervail the short-term adverse effects on its trading price and cure the deficiency in due time as well as regain compliance with the Bid Price Requirement.

The receipt of the extension period has no immediate effect on the listing or trading of the Company’s business operations or the listing of the Company’s ordinary shares, which will continue to trade uninterrupted on the Nasdaq under the ticker “XTKG”.

About X3 Holdings

X3 Holdings Co., Ltd. (Nasdaq: XTKG) is a global provider of digital solutions and technology services spanning diverse industries. The Company is operating across diversified business segments in digital technologies, cryptomining operations, renewable energy and agriculture technologies. X3 Holdings is headquartered in Singapore with subsidiaries and operations globally. For additional information, please visit www.x3holdings.com. 

Safe Harbor Statement

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements include, among others, statements regarding the Company’s plans to regain compliance with the minimum bid price requirement. The Company’s actual results may differ materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. The reports filed by the Company with the Securities and Exchange Commission discuss these and other important factors and risks that may affect the Company’s business, results of operations and financial conditions. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Corporate Investor Relations
Email: ir@x3holdings.com
Website: www.x3holdings.com 

 

View original content:https://www.prnewswire.com/news-releases/x3-holdings-receives-extension-to-regain-compliance-with-the-nasdaqs-minimum-bid-price-requirement-302272657.html

SOURCE X3 Holdings Co., Ltd.

Continue Reading

Technology

LivePerson Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Published

54 mins ago

on

October 11, 2024

By

NEW YORK, Oct. 11, 2024 /PRNewswire/ — LivePerson, Inc. (Nasdaq: LPSN) is providing confirmatory notice, in compliance with the requirements of Nasdaq Listing Rule 5635(c)(4), of recent grants of equity-based incentive awards that LivePerson made under the LivePerson Inc. 2018 Inducement Plan (the “Inducement Plan”).

LivePerson established the Inducement Plan for the purpose of providing equity-based incentive awards to new hires and has done so during active periods of hiring.  In September 2024, LivePerson granted an award of restricted stock units (“RSUs”) to one employee in respect of 305,603 shares of LivePerson’s common stock, in replacement of a grant previously reported in May 2024 as 268,588 shares of LivePerson’s common stock. The RSUs all vest after six months.

All of the RSU grants are subject to the grantee’s continued employment on the scheduled vesting date. Each award granted under the Inducement Plan was granted as an inducement material to the grantee’s entering into employment with the Company.

About LivePerson, Inc.

LivePerson (NASDAQ: LPSN) is the enterprise leader in digital-first customer conversations. The world’s leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.

Investor Contact:

ir-lp@liveperson.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302274280.html

SOURCE LivePerson, Inc.

Continue Reading

Technology

Enclustra’s Coin-Sized FPGA Solution – Pluto XZU20 Wins Best in Show Award at Embedded World North America

Published

54 mins ago

on

October 11, 2024

By

AUSTIN, Texas, Oct. 11, 2024 /PRNewswire/ — Enclustra’s Tiny Titan Pluto XZU20 System-on-Module (SoM) has been awarded Best in Show at Embedded World North America by Embedded Computing Design (ECD), a division of OpenSystems Media. The Pluto XZU20 won in the Development Tools & Operating Systems category, recognized for its innovative design and impact on the embedded systems industry.

Measuring just 30 x 30mm, the coin-sized Pluto XZU20 is powered by the AMD Zynq™ UltraScale+™ MPSoC, offering impressive performance in a compact form factor. This SoM accelerates low-power applications in industries like industrial automation, healthcare, medical, vision, and security. Its processing power and portability make it perfect for tasks such as real-time video processing in medical smart devices, AI applications, drones, and environmental monitoring.

“For a first-time event, we were astounded by the number of entries we received,” said Rich Nass, EVP, Open Systems Media. “And just as astonishing was the quality of the products entered. There were no “me-too” entries. It’s an honor to award these companies and their design teams for their exemplary work and technical innovation.”

Phillip Bächtold, CEO of Enclustra, expressed his enthusiasm: “This award validates our commitment to providing our customers with the best possible FPGA solutions and our continuous efforts in research and development.”

The Pluto XZU20’s innovative design was judged based on ECD’s rigorous 15-point rubric, which assesses design excellence, relative performance, and market impact/disruption. 
To help manufacturers explore its unique features, Enclustra offers an Early Access Program for the Pluto XZU20. 

About OpenSystems Media
For more than 40 years, OpenSystems Media (OSM) has focused solely on the embedded computing engineering community across the AI, automotive, IoT, industrial, consumer, aerospace, defense, and transportation markets. OSM’s mission is to promote the development and use of open standards and new technologies in the embedded computing industry globally. Learn more at embeddedcomputing.com.

About Enclustra GmbH
Based in Zurich, with subsidies in Germany, the US, and China, Enclustra is a one-stop shop for everything FPGA – offering design and development services covering the entire spectrum of FPGA-based system development: high-speed hardware or HDL firmware to embedded software, system design, specification and implementation, and prototyping. And soon, Enclustra will be manufacturing “Made in the USA” FPGA products. To learn more, visit www.enclustra.com                                                                                      

CONTACT:                 
Ryan Bowling
+1 650 245 7945
ryan@thrillcommunications.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/enclustras-coin-sized-fpga-solution–pluto-xzu20-wins–best-in-show-award-at-embedded-world-north-america-302274328.html

SOURCE Enclustra GmbH

Continue Reading

Trending