400,000 New Hedera Accounts in One Week: Blade Wallet in

25 July 2024

in HBAR

Reading Time: 4 mins read

Hedera Network is growing with a massive 400,000 new accounts bagged in one week.
The network is looking to serve more users with Blade Wallet and Karate Combat integration.

The Hedera Network (HBAR) is seeing increased traction, recording 400,000 new accounts in just one week. This notable milestone was spearheaded by a recent integration with Blade Wallet and Karate Combat into the Hedera ecosystem.

Hedera Partners Blade Wallet and Karate Combat

Designed as a simple easy way to engage in Web3 activities, Blade, a self-custody Web3 wallet has been infused into Hedera via its Whitelabel solution. The HBAR Foundation, helping to accelerate the Hedera ecosystem, disclosed the integration announcement in a series of posts on social media X. The partnership aims to enable teams within Hedera to launch their wallets and applications with minimal overhead costs.

Leveraging the Blade Wallet white-label solution, @KarateCombat has developed one of the smoothest and most adopted consumer-facing products on the #Hedera network.

For #KC47, “Up Only Gaming” had ~120,000 unique Hedera accounts participate without breaking a sweat.

— HBAR Foundation (@HBAR_foundation) July 24, 2024

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A major challenge preventing users from participating in the Web3 ecosystem has been the expensive process of creating and keeping their digital wallets. This is where Hedera’s recent integration comes in; allowing users to create powerful Wallet-as-a-Service (WaaS) infrastructure. This infrastructure leverages the full network service stack and is invisible to Karate Combat’s end users.

[crypto-donation-box]

Essentially, Karate Combat sets a new standard for sports entertainment with its innovative approach that combines traditional martial arts with crypto and Augmented Reality (AR) technology. The platform seeks to transform the viewing experience for fans while providing unique opportunities for fighters.

The Uniqueness of Hedera and Karate Combat Integration

Karate Combat found a home on Hedera upon recognizing the need for a scalable, cost-effective, and environmentally friendly Distributed Ledger Technology (DLT) solution. As previously mentioned in our report, Karate Combat issues the Karate Token on Ethereum and Hedera to boost user engagement.

Notably, Karate Combat launched its token from within a single wallet, enabled through the Hedera Token Service (HTS). Thanks to HTS, Karate Combat now has a simplified and effective way to create, manage, and distribute its Karate Token. The token launch has provided easy on-ramping to users, leading to over 400,000 new Hedera account sign-ups in the first week.

Karate Combat has collaborated with several projects including Blade, from an ecosystem perspective. Blade now serves as the main wallet available on the Karate Combat web app, contributing to a streamlined user experience.

Utilizing Blade’s Whitelabel solution, Karate Combat has created one of the most user-friendly and widely used consumer-facing products available on Hedera. The KC47, “Up Only Gaming” had approximately 120,000 unique Hedera accounts participate without much effort.

Current State of HBAR

HBAR, the native token of the Hedera network, is currently ranked the 40th largest digital asset by market capitalization. The token put up an incredible performance at the beginning of the year, with the price rising to $0.090, as noted in our previous article. Nevertheless, HBAR has experienced a yearly increase of 25%.

As of this writing, HBAR’s price declined by 7% in the past 24 hours to trade at $0.064. The trading volume inked a 17.9% increase to $51 million. Note that the price decrease in HBAR coincides with losses in the broader crypto market, with Bitcoin dropping to 64,200.