Created by Brendan Eich, the American technologist who created JavaScript and co-founded the Mozilla project and foundation, Basic Attention Token (or BAT) is an Ethereum-based blockchain technology that has the potential to improve the effectiveness of digital advertising. This cryptocurrency token is designed to be exchanged freely between 3 entities namely the digital advertiser, the content publisher, and the Internet user.
Created in 2016 as the Basic Attention Token or BAT project, according to Live BAT coin price, it is currently trading at around $0.52 with a market capitalization valued at approximately $518 million. Ranked among the top 50 cryptocurrencies, this digital token is trading at leading BATS exchange including Binance, Huobi, and Liqui.
This article presents 3 reasons why BAT has attracted many cryptocurrency investors and has a bright future.
Impact on Digital Advertising
Digital online ads consume up to 50% of the smartphone data for the average user and also cost them $23 in a month. While popular platforms for digital ads such as Facebook and Google earn around 73% of the dollars spent on digital advertising, digital advertisers do not earn good returns on their ad spending, while content publishers lose revenue due to ad-blocking and online frauds.
Use of the Basic Attention Token completely eliminates the middleman (like Google Ads or Facebook Ads). Based on the Attention Value of the digital ad, the advertiser can directly pay BATs to the end users, who agree to view the digital ads. Users can, in turn, decide to pay the content providers using the same earned BATs. Users are also assured of all data privacy as their personal information never leaves their personal device.
This technology model, when implemented, can revolutionise the digital advertising industry and provide a major boost to the BAT cryptocurrency coin.
Performance of the Brave browser
As part of the BAT project, the Brave browser is being used by over a million followers since its launch in 2017. Developed to provide complete user privacy, Brave has a built-in ad blocker, thus saving the end user from losing data bandwidth by eliminating unnecessary ads. Additionally, the Brave browser privately monitors the user’s attention to estimating the Attention Value of the viewed digital ad. The browser maintains data on where the users are spending their time, thus enabling the rewarding of the publishers with BATs.
Industry partnerships and funding
The BAT project is sufficiently funded by companies including the Founders Fund, Foundation Capital, and Propel Venture Partners. Additionally, the BAT and Brave development team is partnering with the Dow Jones Media Group, which will be testing the Brave platform and the BAT token for its digital advertising and media publication sectors. Following this partnership deal, Brave browser users can access premium content on barrons.com and MarketWatch newsletters.
Conclusion
While the Basic Attention Token and the Brave browsing platform provides tremendous potential in the field of digital advertising, it does face market challenges due to the continuing popularity of Google and Facebook among Internet users. Investors, who are looking for long-term returns on their investments, can compare the rates at a trusted cryptocurrency exchange, and can safely bet on the returns provided by this cryptocurrency.
