Carv raises $10M to build blockchain data layer for gaming and AI – Business
Los Angeles-based startup Carv, a modular blockchain-based layer for gaming and artificial intelligence, today announced that it has raised $10 million in new funding to build out its network solution to give users control of their data and identity.
Carv uses blockchain technology in multiple ways, one of which is through the Carv Protocol, which is a data layer that permits cross-chain authentication, storage, processing and monetization of data. It also has a cross-platform credentialing system for blockchain gaming that allows users to carry their identity between different platforms and recently released an AI gaming assistant that integrates with cryptocurrency wallets.
The company raised funds in a Series A funding round led by Tribe Capital and IOSG Ventures, with participation from notable Web3 investors such as Consensys Software Inc., the developer of the MetaMask cryptocurrency wallet, OKX Ventures, Fenbushi Capital, No Limit Holdings, Draper Dragon, Arweave, LiquidX and Netmarble Games Corp.’s Web3 arm Marblex.
“For too long, users’ data has fueled economic growth without them sharing the value created,” said co-founder and Chief Operating Officer Victor Yu. “The AI boom has increased demand for high-quality data for model training, but brands face challenges targeting users and ethically sourcing data amid tightening regulations. Carv empowers users to own, contribute and monetize their data, capturing opportunities from the adtech reshuffling and AI revolution by putting them back in control.”
Using the Carv Protocol, the company specializes in providing gaming and AI development high-quality data reinforced with human feedback in a regulatory-compliant, trustless manner. Its underlying system also allows users to control their data and receive rewards for AI training data while maintaining the privacy of personal data.
With Carv Play, users can create their own identity that can be used to log into different decentralized games and selectively share or withdraw under their unified control. The company said the average daily active wallet accounts for this system exceeded 500,000 users over the past quarter, putting it among the top three most active ecosystems on blockchains such as Linea, opBNB, zkSync and Ronin.
The company also launched an AI assistant named Cara. It is a personalized AI that works with Web3 wallets, blockchain-based games and social networking to understand what people play to recommend games, activities, projects and potential airdrop rewards.
“The result of our ecosystem is an incentive-aligned infrastructure that reimagines the internet, placing individuals at the core of their digital interactions with the ability to obtain a lifetime membership for passive income,” said Yu.