CARV, a platform dedicated to gaming and AI, has officially launched its utility token, CARV, on October 10th across eight centralized exchanges. This launch, which includes platforms like Bybit, KuCoin, HTX, and Bitget, signifies a significant milestone in CARV’s mission to revolutionize Web3 data ownership. CARV, built on the Base blockchain, offers holders the opportunity to participate in governance and shape the future of CARV’s ecosystem.
The CARV token serves as the foundation of the CARV ecosystem, which includes CARV Protocol, CARV Play, and CARV Labs. Furthermore, token holders have the ability to propose new features and vote on governance matters, granting them control over the platform’s direction. Additionally, 40 million tokens have been set aside for node ownership to further decentralize the network.
Victor Yu, the COO of CARV, views this launch as a crucial step in empowering users, especially gamers and AI developers, to take ownership of their data.
In terms of token distribution and future plans, CARV’s play-to-earn platform, Infinite Play, integrates the CARV token, providing gamers with high-APR staking opportunities. This integration adds utility to the token, attracting users to engage more deeply with the ecosystem. Moreover, Web2 companies benefit from accessing user-controlled data, adding an additional layer of value to the CARV coin listing.
CARV has a total token supply of 1 billion, with half of that reserved for community initiatives and 10% allocated for airdrops over three seasons. Apart from staking and governance, CARV’s utility extends to Web2 companies seeking access to user-controlled data, driving demand for the token.
Additionally, CARV has introduced veCARV, a locked version of the token on Arbitrum, which encourages long-term staking and increases involvement in governance. Furthermore, CARV has successfully raised $10 million in Series A funding and generated $43 million in revenue during the first three quarters of 2024.
Looking ahead, CARV has plans to launch its mainnet later this year. The mainnet will enhance the ERC-7231 standard with Merkle trees for data processing and privacy, as well as introduce an on-chain database solution for CARV ID integration.