Web3Port Foundation recently completed a successful new round of investment in the CARV, leading the financing with participation from several prominent institutions. CARV is the largest modular data layer (IDL) in the fields of gaming and artificial intelligence (AI), designed to tackle significant challenges in data usage and sharing. CARV empowers users to own, manage, and monetize their personal data effectively.

Background: The Need for Web3 Digital Identity and Data Management

As the Web3 ecosystem continues to grow, digital identity management and data sovereignty face critical challenges, particularly in addressing fragmented identities, privacy protection, and cross-chain interoperability. Current infrastructure often falls short in meeting the demands of users and industries alike.

• Identity Fragmentation and Limited Data Capacity: In both Web2 and Web3 environments, users’ identities and data are fragmented across multiple platforms and chains. This fragmentation limits users’ ability to operate seamlessly across chains, hinders the establishment of trust frameworks, and poses significant barriers for data-centric industries such as advertising and finance that require integrated datasets.

• Data Sovereignty and Privacy Concerns: In the Web2 model, centralized corporations own and control users’ data, leaving users with little ability to benefit directly from their own information. Web3’s promise is to return data sovereignty to users, enabling them to manage and monetize their data. Achieving this, however, requires a robust decentralized infrastructure to ensure data privacy and security.

• Integration Challenges between Web2 and Web3: A substantial gap exists between Web2 and Web3 in identity management and data processing. Web2 applications struggle to integrate seamlessly with Web3’s decentralized identity systems, creating friction for both developers and users operating across these ecosystems. This highlights the urgent need for a unified framework to bridge integration challenges effectively.

Web3Port Foundation’s investment in CARV aligns with our commitment to advancing the decentralized infrastructure necessary for a secure, user-centric Web3 ecosystem.

Solutions Provided by CARV

CARV aims to deliver a decentralized, integrated, and privacy-focused data management solution through its modular data layer (IDL). This framework empowers users with greater control and the ability to derive benefits from their data within the Web3 ecosystem, advancing a secure, user-centric model for digital identity and data sovereignty.

CARV Key insights

• CARV enables user-led data ownership and monetization through the CARV Protocol and CARV ID, its solutions for identity aggregation and data management.
• CARV Protocol is a decentralized Identity and Data Layer (IDL) that allows users, especially gamers, to securely and privately control, share, manage, and monetize their data.
• With CARV ID, users can interact across Web2 and Web3 platforms using a single NFT-based profile built on CARV’s custom ERC-7231 standard.
• Since its launch, CARV’s flagship application, CARV Play, has registered over 9.5 million users and nearly 3 million CARV IDs onchain through various in-game campaigns. As of September 2024, the CARV Protocol has seen over 2.1 million unique active wallets interacting with the across supported networks.
• One of Carv Labs’ early successes was the launch of BANANA, a TON-based idle clicker game that has attracted over 8 million users as of writing.

CARV Technology

Identity Layer

The identity layer is the core entry point for user identity and data aggregation, leveraging the ERC-7231 standard. This standard extends the ERC-721 token standard by binding Web2 and Web3 identities — like social profiles, blockchain wallets, and DIDs — to non-fungible tokens (NFTs) and soulbound tokens (SBTs). To interact with the protocol, a user’s Web2 and Web3 identity is first merged into a CARV ID, a unified NFT profile issued as an ERC-7231 token onchain.

Data Storage Layer

The storage layer offers users flexibility in data storage, supporting decentralized and centralized options. Data aggregated on the identity layer is encrypted by default and persists in the storage layer. Users can opt for the protocol’s native storage solution, Carv DB, based on Eigenlayer AVS, decentralized solutions like BNB-based Greenfield, or centralized options like AWS S3.

Computation and Training Layer

This layer handles the processing and analysis of aggregated data, unlocking real-time insights from the data, which can also be used for training AI models. To ensure data is processed securely and privacy-preserving, this layer employs Trusted Execution Environments (TEE) like Intel SGX and Zero-Knowledge proof (zk-SNARK) for verification.

Execution Layer

The execution layer functions as the operational backbone of the protocol, comprised of smart contracts deployed on multiple Layer-1 and Layer-2 networks. This layer coordinates all interactions between users, nodes, and other protocol components.

Verification Layer

The verification layer provides additional security for the protocol’s operations, ensuring that the protocol remains decentralized. This layer comprises community-operated verifier nodes that validate the attestations generated by TEE nodes on the computation and training layer.

The Identity and Data Layer (IDL) in the CARV protocol redefines how data is managed, evaluated, and monetized within the Web3 ecosystem, providing significant benefits to both users and businesses.

For Users: With the CARV protocol, individuals can now own, control, verify, and monetize their data. This ensures that privacy, ownership, and control remain firmly in the hands of the individual, transforming the way data is used and shared and creating a future where data generates value for everyone.

For Businesses: CARV provides enterprises with high-quality, privacy-protected, and regulation-compliant user data. This allows them to gain valuable insights, improve operational efficiency, and build trust with their users.

CARV Products

CARV Play

CARV Play is CARV’s flagship product, a gamified mobile application powered by the CARV protocol. It streamlines the gaming experiences across Web2 and Web3 platforms into a unified, credential-based system. To interact with CARV Play, users must first mint CARV IDs onchain, which bind their Web2 and Web3 gaming identities to a single profile.

CARV Labs

CARV Labs is at the forefront of bridging data and identity for gaming, AI, and beyond. Backed by Consensys and Hashkey Capital, CARV Labs is a $50 million accelerator that aims to revolutionize user ownership and monetization of data across Web2 and Web3 platforms, empowering gamers and developers alike.

CARV Portal

CARV Portal is an out-of-box tool kit for gaming partners within the CARV ecosystem, offering a centralized platform that streamlines the management of their integration with CARV Play. Carv Portal enables gaming partners and developers to acquire, onboard, and retain gamers on CARV Play while accessing insights from high-quality user data.

CARV AI

CARV AI is an AI agent built to enhance the gaming and data management experience within the Carv ecosystem by leveraging advanced artificial intelligence tools. As a personalized AI assistant, CARV AI integrates deeply with CARV Play, offering users tailored recommendations for games, quests, and events based on gaming history and preferences.

CARV Achievements:

CARV Protocol: The CARV protocol empowers over 900 Web2 and Web3 gaming and AI companies, including industry giants like Electronic Arts, Netmarble, and AliCloud, to utilize data as a commodity in ways tailored to their business needs — such as NPC training, user insights, and anti-bot mechanisms. Through the CARV ID (ERC7231 standard NFT), more than 920,000 individuals now hold “passive income lifetime memberships.” CARV’s decentralized confidential computing layer ensures privacy, regulatory compliance, and a reallocation of value creation back to millions of data contributors and owners.

CARV Play: Serving over 2.7 million registered Web2 and Web3 gamers, CARV Play enhances gaming experiences by allowing players to share data, build credentials, engage in gameplay, and earn rewards. CARV now ranks among the largest ecosystems with over 1.3 million unique active wallets across various blockchain networks, including zkSync, Linea, opBNB, Ronin, TON, SOL, and ARB, as well as 40 other chains. With an MRR exceeding $1 million, CARV Play has integrated over 790 Web2 and Web3 games, supporting ecosystems like Illuvium, Off the Grid, Aperion, and Pixelmon for targeted UA, user insights, and player retention strategies. CARV has generated $4 million in revenue from business partnerships and $2 million from user engagement.

Funding Milestones:

Since 2022, CARV has successfully completed multiple funding rounds, raising over $50 million in total:

• November 2022: CARV raised $4 million at a $40 million valuation, led by Vertex, with participation from Infinity Ventures Crypto, W3GG, and others.

• December 2023: CARV closed a strategic funding round with investors including HashKey Capital and Alibaba.

• April 2024: CARV raised $10 million in Series A funding, with backing from IOSG Ventures, OKX Ventures, Fenbushi Capital, and others.

• June 2024: CARV raised $35 million in its latest funding round, led by Animoca Brands, Intella X, and additional strategic partners.

In September 2024, CARV launched the $50 million CARV Labs accelerator, focused on driving innovation and development within the decentralized data ecosystem.

Tokenomics

CARV protocol’s token, CARV, is scheduled for a Q4 2024 release alongside the protocol’s upcoming mainnet. Once live, the token will serve as the medium of exchange within the CARV ecosystem and be used to bootstrap participation among users ahead of the protocol’s mainnet.

Infinite Play

CARV’s Infinite Play adapts Curve Finance’s model by creating a competitive, gamified system where player activity, game rewards, and token utility align. Like Curve’s voting escrow and liquidity wars, Infinite Play allows players to stake tokens, vote on games, and earn rewards, integrating gameplay with governance and tying engagement to game outcomes and token value.

To date, 486,016 players have participated in Infinite Play across three seasons, leading to over 1 million new CARV ID holders, representing around 50% of all CARV ID mints. The model appears to be effective in promoting user interaction while generating valuable data for game developers to provide more tailored offerings to users.

CARV will launch with a total supply of 1 billion fully released over four years. The token allocation is as follows:

• Nodes & Community (50.00%) — Set aside to incentivize node participation and community engagement through various campaigns.
• Founding Team & Advisors (~19.46%) — Reserved for the founding team, contributors and advisors
• Early Investors (~9.25%) — Allocated to seed and early strategic investors in CARV.
• Ecosystem & Treasury (9.00%) — Earmarked for the CARV community treasury
• Private Fundraising (8.30%) — Allocated to Series A investors and future private investors
• Liquidity (4.00%) — Will be used to seed liquidity at TGE

$CARV Token Listing and Market Performance

In October 2024, $CARV was officially listed on Bitget, Bybit, KuCoin, Gate, and HashKey Global, along with South Korea’s largest exchange, Upbit. Since its launch, $CARV has shown strong market performance with steady growth and significant market attention.

Roadmap and Future Vision

CARV has successfully achieved its first and second-phase milestones, including the launch of the CARV Protocol, CARV Play application, and CARV AI Bot. Moving forward, CARV is focused on its third-phase goals: establishing unified identity, data management, and cross-chain interoperability. CARV aims to further expand decentralized data management and monetization capabilities, advancing the broader Web3 ecosystem.

Conclusion

CARV is the largest modular data layer (IDL) in gaming and AI, building a robust ecosystem through its CARV Protocol and flagship products, CARV Play and CARV AI. With deployments across major blockchains like Linea, BNB Chain, zkSync, and Ronin, as well as 40+ chains, CARV has integrated over 790 Web2/3 games, serving more than 2.7 million players.

As a leading modular data layer, CARV stands out in technical architecture, ecosystem breadth, and user experience. With the growing importance of decentralized identity and data layers (IDL) in the Web3 ecosystem, CARV is positioned to play a pivotal role in gaming and AI, fostering the continued growth and prosperity of the Web3 space.