ERC-7231: Ethereum Community Backs CARV’s NFT Standard for Value Redistribution to Users in the AI Revolution
Santa Clara, US, March 28th, 2024, Chainwire
CARV, the modular data layer for gaming and AI, today announces the final approval of ERC-7231 – the protocol that establishes a revolutionary system of data self-sovereignty, empowering users to possess, manage, and contribute their information to both AI systems and data consumers, thereby enabling the equitable sharing of generated value.
Ethereum Community greenlighting the standard is a major step in bridging disparate digital identities and enabling users to own their online history, relationships, and experiences across platforms.
ERC-7231 binds multiple Web2 and Web3 identities to a single non-fungible token (NFT) and achieves encrypted aggregation of multi-domain identity data. The result is an “identity of identities” that enables self-authentication, social overlapping, and commercial value generation from targeted user data.
“At long last, this solution breaks down identity silos, rewrites the rules of data ownership, and lays the foundation for a user-owned internet where individuals can have an equitable share in value distribution,” said CARV Co-Founder Victor Yu.
ERC-7231 offers three important benefits at the dawn of Web3. First, the protocol’s integration with account abstraction wallets makes Web2 and Web3 onboarding (and therefore adoption) easier. Second, uniting multiple identities under one banner enables greater interoperability between different platforms and services. Third, users exercise unprecedented control over their data to decide how it’s used. If they opt to share this data, for example, users can passively earn whenever brands leverage their on-chain and off-chain identity information.
Case in point: CARV ID is integrated with the standard and already empowering users to manage their digital presence across the gaming universe with ease and confidence. More than 900,000 CARV ID holders are playing their favorite games and earning rewards across CARV’s comprehensive ecosystem, which spans from its foundational data stack, its gaming-focused application layer, to the increasing list of games integrated with CARV ID. CARV has also developed an AI Agent in house, where more nuanced data can be scrapped in a privacy-preserving way and attributed to CARV ID. Entities building on CARV’s modular data layer, such as MARBLEX which recently just announced their strategic partnership with CARV, can tap into this rich data source for game and AI development. ERC-7231 is “the key to stringing everything together,” said Yu.
Understanding gamers today is increasingly difficult due to app tracking changes (IDFA) and shifting privacy regulations (CCPA). With ERC-7231, users can not only aggregate, own, and control their identities, but gaming and AI companies can leverage this zero- and first-party data to create customized experiences and more accurately target gamers.
For example, according to the company, improved user acquisition was the aim of Electronic Arts and its latest game, EA Sports FC Tactical, in Indonesia. Utilizing CARV as one of the primary channels for user acquisition, EA recently recruited Indonesian gamers for the beta test at a lower Cost Per Install (CPI) than traditional channels. Better yet, the game can better understand each gamer and their history thanks to ERC-7231’s aggregated data from multiple gaming accounts.
“Backed by this standard, brands can shift and shape their offering with quality and compliant data, and users can share in the value creation from this information. We welcome all user identity solutions to adopt ERC-7231 and usher in a new age of identity-aggregated NFTs,” said Yu.
About CARV
CARV is the largest modular data layer for gaming and AI, revolutionizing how data is used and shared. CARV ensures privacy, ownership, and control are firmly in the hands of individuals and provides gaming and AI development with holistic and high-quality data reinforced with human feedback in a regulatory-compliant, trustless way. To pioneer a future where data generates value for all, CARV has built CARV Protocol, the modular data layer integrated with 40+ chain ecosystems, and CARV Play, its flagship gaming superapp. CARV has more than 2.5 million registered users and 700 integrated games.
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