ERC-7231: A Fresh NFT Standard in the Industry

CARV Introduces ERC-7231 NFT Standard for Data Self-Sovereignty

CARV, a self-sovereign identity oracle and AI-powered gaming app, has recently unveiled the final approval of the ERC-7231 NFT standard. This standard represents identity-aggregated non-fungible tokens (NFT) and has gained support from Ethereum for CARV’s data self-sovereignty initiative.

Advancing Data Ownership and Interoperability

CARV’s Co-Founder, Victor Yu, expressed excitement about this milestone, highlighting how the ERC-7231 standard merges multiple Web2 and Web3 identities into a single NFT. This innovation allows for encrypted aggregation of identity data across different domains, enabling self-authentication, social overlapping, and value generation from user data.

• Integration with account abstraction wallets for easier onboarding
• Enhanced interoperability between platforms and services
• User control over data usage and sharing

Empowering Users and Enhancing Gaming Experiences

Yu emphasized that this new standard paves the way for a “data-to-earn” era in blockchain gaming, offering users the opportunity to passively earn rewards by sharing their data with brands. The integration of CARV ID with ERC-7231 has already seen significant adoption, with over 900,000 users globally benefiting from this innovative approach.

Future Prospects and Industry Impact

Looking ahead, CARV aims to collaborate with more Web2 and Web3 studios to promote platform interoperability. By encouraging the adoption of ERC-7231, CARV envisions a future where identity-aggregated NFTs revolutionize various industries beyond gaming, such as AI-based healthcare solutions.

Overall, the approval of the ERC-7231 standard marks a significant milestone in the journey towards data self-sovereignty and enhanced user experiences in the digital realm.