Santa Clara, CA, October 10th, 2024, Chainwire

CARV, the largest modular identity and data layer for gaming and AI, today announces the launch of its native utility token, $CARV. Built on Base and available now on 8 centralized exchanges including Bybit, Kucoin, and Bitget, the token marks a significant milestone in CARV’s mission to revolutionize data ownership.

As the governance and participation cornerstone of CARV’s ecosystem—spanning CARV Protocol, CARV Play, and CARV Labs—$CARV empowers holders to actively shape the protocol’s future, share in its success, and truly own, control, and monetize their data. 

Holders can not only engage in decision-making and propose new features but also acquire CARV nodes with 40M tokens allocated to further decentralize the network and generate new revenue streams. Furthermore, CARV also provides a buyback program for the node holders to foster true decentralization. On the strength of CARV’s proven revenue model and high-yield staking opportunities, $CARV presents a compelling case for traders.

“Our TGE is a pivotal moment for CARV as we continue to empower gamers and AI developers to truly control their data," said Victor Yu, COO of CARV. "With the $CARV token, we are taking another step towards building a fair and transparent data-driven ecosystem.”

The token’s utility extends to millions of gamers through Infinite Play, CARV’s play-to-earn economy, which now incorporates $CARV after three successful experimental seasons and demonstrated high APR staking. Additionally, as CARV advances in AI, web2 companies will use $CARV to access valuable, user-controlled data, creating further demand.

“This is just the beginning—our roadmap includes upcoming airdrops, growing gaming partnerships, and innovative experiences driven by community governance. Of course, none of this is possible without our community, and this is reflected in our tokenomics,” Yu said.

$CARV will launch with a total supply of 1 billion fully released over four years. Half of the total supply is reserved for the community, including 10% allocated across three seasons of airdrops. The token allocation is as follows (with full details about token utilities available here):

• Nodes and Community (50.00%)
• Founding Team and Advisors (~19.46%)
• Early Investors (~9.25%)
• Ecosystem and Treasury (9.00%)
• Private Fundraising (8.30%)
• Liquidity (4.00%)

For users to have their say, CARV also introduces veCARV on Arbitrum, a locked “voting escrowed” version of $CARV that enhances voting power, encouraging long-term staking and community-driven development.

$CARV is available today on the following 8 exchanges: Bybit, KuCoin, Bitget, HTX, Gate, BingX, HashKey Global, and MEXC. More exchanges are to come.

This is proving a pivotal year for the project. In addition to securing $10M in Series A funding, propelling protocol decentralization with a $35M verifier node sale, and launching a $50M accelerator, CARV has demonstrated remarkable revenue generation, a rarity in the web3 space. In the first three quarters of 2024, CARV reported over $43M in total revenue. Today’s token launch marks a new chapter in data empowerment backed by a track record of financial success and technological innovation.

And CARV isn’t done yet for 2024. The team remains busy focusing on its upcoming mainnet release and other key initiatives before the end of the year. These include extending its identity and data layer with decentralized sequencers and data verification, enhancing the ERC-7231 standard by incorporating Merkle trees to improve data processing and privacy, and offering an on-chain database solution for instant identity integration with CARV ID.

For more, see Messari’s latest report into CARV or stay up to date at the blog or Twitter (X).

About CARV

CARV is building the largest modular Identity and Data Layer (IDL) for gaming, AI, and beyond, integrating over 900 games and AI companies, representing more than 30% of all Web3 games, and serving 9.5M+ registered players with 1.3M+ daily active users and 2.8M unique on-chain CARV ID holders. Ranking among the top three globally with 2.1M+ average daily unique active wallets across 40+ chains, CARV has raised $50M in total funding from top-tier investors like Tribe Capital, Temasek Vertex, HashKey Capital, Animoca Brands, and ConsenSys, along with major gaming studios and ecosystems such as MARBLEX (Netmarble) and the Sandbox. The team comprises industry veterans from Coinbase, Binance, Google, and Electronic Arts, all dedicated to revolutionizing data usage in gaming, AI, and beyond.

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