CARV, a platform dedicated to gaming and artificial intelligence (AI), has officially released its utility token, CARV, on October 10th through eight centralized exchanges. This launch, which includes platforms such as Bybit, KuCoin, HTX, and Bitget, represents a significant milestone in CARV’s mission to revolutionize Web3 data ownership. Leveraging the Base blockchain, CARV enables token holders to participate in governance and shape the future of CARV’s ecosystem.
The CARV token serves as the foundation of the CARV ecosystem, encompassing CARV Protocol, CARV Play, and CARV Labs. Additionally, token holders can propose new features and vote on governance matters, granting them control over the platform’s trajectory. Furthermore, 40 million tokens have been designated for node ownership, further decentralizing the network.
Victor Yu, the COO of CARV, emphasized the launch as a crucial step in empowering users, especially gamers and AI developers, to take ownership of their data.
Regarding token distribution and the upcoming mainnet launch, CARV’s play-to-earn platform, Infinite Play, integrates the CARV token, offering gamers high-APR staking opportunities. This provides added utility to the token, attracting users to engage more deeply with the ecosystem. Moreover, Web2 companies can benefit from accessing user-controlled data, adding another layer of value to the CARV coin listing.
CARV has a total token supply capped at 1 billion, with half reserved for community initiatives, including 10% for airdrops over three seasons. Beyond staking and governance, the CARV token’s utility extends to Web2 companies seeking access to user-controlled data, thereby driving token demand.
Furthermore, CARV has introduced veCARV, a locked version of the token on Arbitrum, which encourages long-term staking and enhances governance participation. Additionally, CARV has secured $10 million in Series A funding and generated $43 million in revenue during the first three quarters of 2024.
Looking ahead, CARV plans to launch its mainnet later this year. Notably, the mainnet will enhance the ERC-7231 standard by incorporating Merkle trees for data processing and privacy, and introduce an on-chain database solution for CARV ID integration.
