Crypto Innovations: CARV Launches Its Native Utility Token
The Launch of CARV's Native Utility Token
CARV, a gaming and artificial intelligence (AI) modular identity data layer, has launched its native utility token, CARV, marking a significant milestone in its mission to redefine data ownership.
Features of the CARV Token
The CARV token serves as the governance and participation cornerstone of the CARV ecosystem. Users can propose new features and monetize their data.
- 40 million tokens are allocated for revenue stream diversification and network decentralization.
- A buyback program has been introduced for node holders, promoting further decentralization.
Victor Yu, COO of CARV, stated, “Our TGE is a pivotal moment for CARV as we continue to empower gamers and AI developers to truly control their data. With the $CARV token, we are taking another step towards building a fair and transparent data-driven ecosystem.”
Utility and Adoption of CARV
The utility of CARV spans across millions of gamers involved in CARV’s play-to-earn platform, Infinite Play, which now features high APR staking options after three experimental seasons.
Token Distribution and Community Engagement
The total supply of CARV is capped at 1 billion, scheduled for full distribution over four years. Noteworthy allocations include:
- Community Initiatives (50%) - 10% is reserved for airdrops.
- Founding Team and Advisors (~19.46%)
- Early Investors (~9.25%)
- Ecosystem and Treasury (9%)
- Private Fundraising (8.3%)
- Liquidity (4%)
CARV is also introducing veCARV on Arbitrum, a locked, voting-escrowed version of the token promoting long-term staking.
Future Prospects
Recently, CARV secured $10 million in Series A funding and initiated a $50 million accelerator program, showcasing its financial strength. With a planned mainnet launch later this year, CARV aims to enhance its data layer using decentralized sequencers.
In 2024 alone, CARV has generated over $43 million in revenue, emphasizing its innovative strides in the web3 landscape.
Conclusion: The Landscape of Cryptocurrency
As CARV leads in the evolution of crypto and data ownership, its token launch heralds a new era for both gaming and cryptocurrency sectors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.