Web3 ID project CARV has introduced a $50 million accelerator to support projects that can accelerate the mass adoption of its data layer protocol, According to the press release, notable blockchain venture capital firms, including HashKey Capital and Consensys, back the $50 million accelerator.
CARV Co-Founder Victor Yu stated that a modular data layer for gaming and AI applications is focused on supporting projects shaping decentralized data’s future.
“Our goal is to enable a decentralized data ecosystem for broader innovation. Building sustainable data infrastructure hinges on creating a dynamic data flywheel, which requires modular infrastructure and a critical mass of high-quality applications post-PMF,”
Yu said.
CARV is a decentralized data solution and it allows users to monetize their online data through CARV ID. This system aggregates data from both Web2 and Web3 sources, including emails, social accounts, and crypto wallet addresses.
The co-founder further explained that this approach enables users to earn from their digital data, which could be appreciated over time.
“As the protocol expands, the value of data increases and users receive rewards for their data contributions. This model transforms user data into a passive income stream, providing financial benefits to individuals while offering businesses access to reliable, consent-based data,”
Yu added.
This approach fosters actual ownership of online user data, contrasting with the data-harvesting practices of traditional Web2 platforms, which often monetize user data without direct user benefit.
The press release highlighted that several industry investors will contribute to the accelerator’s vertical-specific programs. These include MARBLEX, the Web3 division of South Korean mobile game developer Netmarble; Intella X, the Web3 publishing arm of NEOWIZ; the crowdfunding platform Alphastarter; and Doublejump. Tokyo, the developer of the Oasys blockchain; various business angels; game publisher Xterio; and blockchain networks Solana, NEAR, and Ronin.
This announcement follows CARV’s recent milestone of raising over $50 million in total funding. Key contributors include IOSG Ventures, HashKey Capital, Consensys, OKX Ventures, Alibaba, and Arweave, as reported in July 2024.
In another development, HashKey Capital announced that CARV will partner with them and Aethir as co-hosts for the highly anticipated Decode: Legacy event at Token2049 Singapore on September 17, 2024.
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