Consensys and Hashkey-backed $50M accelerator launches for CARV data layer

CARV has launched a $50 million accelerator for tasks able to driving mass adoption of its knowledge layer protocol.

The $50 million accelerator acquired backing from notable blockchain enterprise capitalist (VC) funds, together with HashKey Capital and Consensys.

CARV, the modular knowledge layer for gaming and synthetic intelligence (AI) functions, goals to help tasks constructing the way forward for decentralized knowledge, in response to Victor Yu, co-founder of CARV.

The co-founder informed Cointelegraph:

“Our objective is to allow a decentralized knowledge ecosystem for broader innovation. Constructing sustainable knowledge infrastructure hinges on making a dynamic knowledge flywheel, which requires modular infrastructure and a crucial mass of high-quality functions post-PMF.”

The necessity to regain management over consumer knowledge turned obvious in 2018 when Cambridge Analytica leaked the info of over 87 million Fb customers.

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Decentralized knowledge layers: giving again possession of consumer knowledge

As a decentralized knowledge resolution, CARV permits customers to monetize their on-line knowledge by means of CARV ID, which aggregates knowledge from Web3 and Web3 sources like emails, social accounts, or crypto pockets addresses.

This allows customers to revenue off their digital knowledge, which may in the end develop in worth, defined Yu:

“Because the protocol grows, the worth of information will increase and customers earn rewards for his or her knowledge contributions. This mannequin turns consumer knowledge right into a passive earnings stream, permitting people to profit financially from the info they generate, whereas companies can entry dependable, consent-based knowledge…”

This may allow the true possession of on-line consumer knowledge, not like most data-harvesting Web2-specific platforms that monetize consumer knowledge, added the co-founder:

“A modular and decentralized knowledge layer, like CARV’s, is essential as a result of it empowers customers with full possession, management, and privateness over their knowledge throughout numerous platforms.”

This decentralized method contrasts with the normal centralized knowledge silos typical for Web2 functions.

CARV has surpassed $50 million raised in complete funding from types together with IOSG Ventures, Hashkey Capital, COnsensys, OKX Ventures, Alibaba and Arweave, in response to a July 1 X put up.

*CARV $50 million in complete funding. Supply: CARV*

Different decentralized, blockchain-based knowledge options embody the Graph, an indexing protocol for organizing and accessing knowledge from totally different blockchain networks, broadly utilized by builders behind decentralized functions (DApps).

*High AI & Huge Information tokens. Supply: CoinMarketCap*

The Graph’s utility token (GRT) is the 51st-largest cryptocurrency and the seventh-largest among the many high synthetic intelligence (AI) and large knowledge cash tracked by CoinMarketCap.

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AI and Web3 gaming wants knowledge infrastructure

Decentralized knowledge layers are important for Web3 gaming and AI because of the data-intensive nature of those functions and the need for high-quality, verified consumer knowledge.

Nonetheless, CARV is also tapped by decentralized finance (DeFi) functions, added Yu:

“CARV’s know-how can be relevant in areas like DeFi, digital id, social networks, and the broader Web3 ecosystem. Any venture that values knowledge privateness, possession, and honest worth trade between customers and platforms can drive CARV’s mass adoption, making it a flexible resolution past simply gaming and AI.”

The $50 million accelerator will present tasks with funding, go-to-market and development technique, tokenomic advisory and infrastructure help.

Decentralized knowledge layers have the potential to play an vital position in Web3, providing customers larger management and possession over their private shopping knowledge.