What Basic Attention Is Doing to Advertising in the Crypto Space?

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 What Basic Attention Is Doing to Advertising in the Crypto Space?
Image source: © Shahurin | Megapixl.com

Highlights

  • BAT powers the Brave platform which is an advertising platform that rewards users for their attention
  • BAT was founded by Brendan Eich and Brian Bondy, who together have more than 50 years of software development experience between them
  • Brave Browser has a total of 38.9 million active monthly users, whereas the BAT token currently has a market cap of US$1,037,451,273

In the cryptocurrency space, there are two types of digital currency: there’s the type that simply serves as a means of digital payment, like Bitcoin,  and there’s the type which provides some sort of practical use.

What Is BAT?

Basic Attention Token (BAT) falls into the latter category, BAT powers the platform Brave, an advertising platform designed to reward users for their attention, while providing advertisers with a better return on their ad revenue.

What Basic Attention Is Doing to Advertising in the Crypto Space?

Using the Brave Browser, users can watch adverts and receive BAT rewards in return. On the other hand, advertisers can deliver targeted ads to maximise engagement and minimise losses due to ad fraud and abuse.

BAT is exchanged between publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users, completely cutting out the intermediaries that typically increase advertising costs

Who Are the Founders of BAT? 

BAT was founded by Brendan Eich and Brian Bondy. Together, Eich and Bondy have a more than 50 years of software development experience between them.

Eich has an accomplished resume having invented JavaScript in 1995 and helping to launch one of the world’s most popular web browsers – Mozilla Firefox.

Bondy previously worked as a senior software engineer at Mozilla and as software developer at Corel Corporation and Khan Academy.

Token, Brave advertising, Brace platform, crypto advertising

Image source © Grejak | Megapixl.com

What Makes BAT Stand Out? 

The primary use case for the BAT is as a payment token for running advertising campaigns through Brave Ads.

As of November 2020, advertisers must commit to spending a minimum of $2,500 per month in order to launch their campaign. However, a self-serve platform with potentially lower spending limits is currently being developed.

As it stands, this advertising budget must be paid entirely in BAT, which advertisers can acquire from a variety of third-party exchange platforms. From this, Brave takes a small percentage, and the remaining Bat is distributed to publishers and users.

One of the main distinguishing features of this system is its ability to reward  users who are not yet part of the network, including both websites and individual Twitter users. These users can then securely register to the platform to collect any reward tips they have accumulated.

Since their launch in 2017, BAT and the Brave network gave enjoyed significant user uptake. As of October 2021, Brave Browser has a total of 38.9 million active monthly users.

Although BAT’s price is struggling to get back to its one-year peak of US$1.65 which it hit on April 9, 2021, its year-to-date returns have still been solid. BAT is currently priced at US$0.6868 with a market cap of US$1,025,669,948 on 12 October 2021 at 5:49 PM AEDT.

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