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CARV, a decentralized data layer protocol, has launched a $50 million accelerator backed by prominent blockchain venture capitalists, including HashKey Capital and ConsenSys. This accelerator aims to drive mass adoption of CARV’s protocol, particularly for projects in gaming and artificial intelligence (AI) that align with its vision of decentralized data.
The accelerator’s partners include industry giants such as Arweave, Litentry, and Alibaba Cloud. CARV’s co-founder, Victor Yu, explained that the goal is to create a decentralized data ecosystem that enables users to regain control of their data. CARV aims to establish a sustainable data infrastructure by building a dynamic “data flywheel,” with modular infrastructure and high-quality applications.
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The need for decentralized data solutions, like CARV, became evident following the Cambridge Analytica scandal in 2018, which exposed the vulnerabilities of centralized data systems. CARV offers a solution by allowing users to monetize their online data through CARV ID, which aggregates data from Web2 and Web3 sources. Users can profit from the value of their digital data, effectively turning it into a passive income stream.
CARV’s decentralized approach contrasts with traditional Web2 platforms, where centralized companies monetize user data without granting ownership or control. CARV gives users full ownership and privacy over their data across different platforms, marking a shift toward decentralized data management.
With over $50 million raised in total funding from firms like ConsenSys, OKX Ventures, and Alibaba, CARV joins other decentralized data solutions, such as The Graph, in revolutionizing how data is handled and accessed. The Graph, an indexing protocol for organizing blockchain data, is currently the 51st-largest cryptocurrency and plays a critical role in decentralized application (DApp) development.
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