Empowering Data Ownership and Value Generation in Gaming and AI Through Chainwire

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

CARV, the leading modular identity and data layer for gaming and AI, has announced the launch of its native utility token, $CARV. Built on the Base network and now available on eight centralized exchanges, including Bybit, Kucoin, and Bitget, this token represents a major step in CARV’s efforts to transform data ownership.

$CARV serves as the governance and participation foundation of CARV’s ecosystem, which includes CARV Protocol, CARV Play, and CARV Labs. Token holders can play an active role in shaping the direction of the protocol, sharing in its success, and owning, controlling, and monetizing their data.

Holders will have the opportunity to participate in decision-making, propose new features, and purchase CARV nodes, with 40 million tokens set aside for enhancing network decentralization and generating additional revenue. Additionally, CARV is implementing a buyback program for node holders to promote genuine decentralization. With its proven revenue model and attractive staking options, $CARV offers a strong value proposition for traders.

“Our Token Generation Event marks a critical point for CARV as we strive to empower gamers and AI developers to gain real control over their data," said Victor Yu, COO of CARV. "The introduction of the $CARV token is another significant stride toward creating a fair and transparent, data-driven ecosystem.”

The utility of the token reaches millions of gamers through Infinite Play, CARV’s play-to-earn economy, which now integrates $CARV after three successful experimental seasons that featured high APR staking. As CARV continues to innovate in the AI space, web2 companies can utilize $CARV to access valuable, user-controlled data, further enhancing demand.

“This is only the beginning—our roadmap includes upcoming airdrops, expanding gaming partnerships, and innovative experiences guided by community governance. None of this would be possible without our community, which is reflected in our tokenomics,” Yu added.

The $CARV token is launching with a total supply of 1 billion tokens, fully distributed over the next four years. Half of the total supply is dedicated to the community, with 10% earmarked for airdrops over three seasons. The allocation of tokens is as follows:

• Nodes and Community (50%)
• Founding Team and Advisors (~19.46%)
• Early Investors (~9.25%)
• Ecosystem and Treasury (9%)
• Private Fundraising (8.30%)
• Liquidity (4%)

In addition, CARV is introducing veCARV on Arbitrum, a locked, “voting escrowed” version of $CARV that enhances voting power and promotes long-term staking and community-led development.

$CARV is currently available on eight exchanges: Bybit, KuCoin, Bitget, HTX, Gate, BingX, HashKey Global, and MEXC, with plans for more exchanges in the future.

This is shaping up to be a transformative year for CARV. Along with securing $10 million in Series A funding, moving toward protocol decentralization through a $35 million verifier node sale, and launching a $50 million accelerator, CARV has achieved impressive revenue generation, which is uncommon in the web3 sector. The platform reported over $43 million in total revenue in the first three quarters of 2024. The token launch heralds a new chapter in data empowerment, bolstered by a strong track record of financial success and innovation.

Looking ahead, CARV’s team is focused on the upcoming mainnet release and other essential initiatives for the remainder of the year. This includes further developing its identity and data layer with decentralized sequencers and data verification, enhancing the ERC-7231 standard by integrating Merkle trees for improved data processing and privacy, and offering an on-chain database solution for immediate identity integration with CARV ID.

About CARV

CARV is creating the most extensive modular Identity and Data Layer (IDL) for gaming, AI, and beyond, integrating more than 900 games and AI companies, which accounts for over 30% of all Web3 games. The platform serves over 9.5 million registered players, with more than 1.3 million daily active users and 2.8 million unique on-chain CARV ID holders. Ranking among the top three globally with over 2.1 million average daily unique active wallets across more than 40 chains, CARV has raised $50 million from prominent investors, including Tribe Capital, Temasek Vertex, HashKey Capital, Animoca Brands, and ConsenSys, along with major gaming studios. The team consists of seasoned professionals from leading companies, all committed to revolutionizing data usage in gaming, AI, and other sectors.

For further inquiries, please contact:
Victor Y., COO
Email: [email protected]