CARV Capitalizes on HashKey-Led Strategic Investment to Catalyze Data-to-Earn Revolution, Empowering 1.2 Million Users with Data Self-Sovereignty

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Dec 05, 2023, 09:18 ET

SANTA CLARA, Calif. , Dec. 5, 2023 /PRNewswire/ -- CARV, a self-sovereign identity (SSI) oracle and data-sharing protocol with its first flagship AI-powered gaming superapp, secured strategic funding earlier this year from HashKey Capital and a $100B Global Big Tech. This raises CARV's FDV to $60 million following its seed round, as reported by TechCrunch. With the new funding and global strategic synergies, CARV has been accelerating the development of its protocol into a decentralized, general-purpose, multi-application ecosystem and doubling down on the rapid expansion of its gaming application for both gamers and games globally.

Since its founding in late 2021, CARV has been on a mission to empower users with data ownership and fair monetization from the usage of their data in a privacy-preserving manner. The launch of CARV Protocol in Q3 2023 was a major milestone towards such a mission. The fusion design of CARV protocol relies on its foundation of confidential computation and decentralized incentive layers while lowering the barrier to adoption with its user-facing components: ID NFT (ERC7231, initiated by CARV) and Account Abstraction Wallet. To date, 1.2M+ users and 600+ top gaming studios across Web 2 and 3 are interacting with CARV Protocol via the application layer.

Users receive value in one of the two forms via CARV Protocol: passive income from historical data and more active income from input and engagement with brands. "The interaction is very intent-centric, simply having a social handle associated with an account where users can manage and control all their aggregated data, identities, and asset-related resources," says Victor Yu, cofounder of CARV. When users share their preferences, ownership, social relations, and past experiences directly with brands, they receive passive income and personalized service based on historical data. By authorizing and linking more accounts and actively engaging in brand-user interactions, like completing surveys or participating in events, users can significantly boost their income potential. Enter an Era of Data-to-Earn (D2E).

On the other side of the equation are brands, which can now access high-quality, ethically sourced first- and zero-party data in a compliant manner via CARV Protocol, which leverages crytographic technologies like TEE, and zero-knowledge proofs. The result is the ability to provide better services, increase retention, and drive profitability.

Users can participate in the early access of Data-to-Earn via the ID NFT minting event (from Dec 6, 2023) to setup their ID and account system and onboard as the first batch of users (from Dec 12, 2023) with top-notch games and ecosystem partners from the industry.

About CARV

CARV's mission is to empower users with data self-sovereignty and enable them to share the value captured from the utilization of their data in a consent-based and privacy-preserving mechanism. To bolster this vision, CARV has bulit CARV Protocol, an intent-centric, composable self-sovereign identity (SSI) oracle and incentivized data-sharing platform; and CARV Play, an AI-powered super app, starting with social, credentialing, and publishing in gaming.

About HashKey Capital

HashKey Capital is one of the largest crypto funds managing over US$1 billion in client assets and over 500 investments in infrastructure, tools, and applications.

SOURCE CARV