Basic attention Token (BAT) – A money making opportunity
The concept of blockchain technology is improving with each passing day as every industry surrenders to it. From insurance to content, there is not a single service now that cannot be accessed in a fair way via the blockchain. This is evident even in the sphere of digital advertising. And the Basic Attention Token (BAT) has taken it a step forward.
What is the Basic Attention Token?
Brought forward in 2016 by Brendan Eich, Basic Attention Token (BAT) works on the Ethereum blockchain to radically improve the efficacy of digital advertising. The BAT works in conjunction with the Brave browser which, through the implementation of a digital advertising exchange, enables users to access a faster internet.
The concept aims at relieving the misery of both the users and the publishers. The digital advertising which is prevalent with frauds and trackers and where users are abused via unfair advertisements will see a radical change with BAT.
The BAT has been designed to utilise a user’s focused mental engagement. The BAT is introducing a Blockchain Digital Advertising where digital ads can be exchanged on a decentralised and transparent Ethereum platform in three simple steps.
Step 1: The Brave Browser (an open, privacy-focused, and fast web browser that has been designed to block trackers and mal-advertisements and is inbuilt with a ledger system to capture user attention in order to reward them accurately.)
Step 2: The Basic Attention Token (the token that is exchanged between publishers and/or advertisers and users. The token’s utility is driven by user attention and can be used by advertisers to obtain a variety of advertisements.)
Step 3: Combining step 1 and 2 (The browser records where the users spend their time and accordingly rewards users and publishers.)
What exactly is happening here?
The token works two-way. For advertisers, the token determines the value of the basic attention that their content is receiving and rewards them accordingly. For users, it presents an opportunity to earn BAT rewards in lieu of giving their attention to publishers. Users then have the option to either hold on to their BATs or to give them to the publishers for whatever content they want to support.
How does BAT measure user attention?
The browser measures user attention at the browser level by keeping track of user engagement in an active tab in real time. By monitoring the time spent of specific content in the tab, Brave filters the content and shows only what is relevant to each user.
Based on whether or not a page is viewed for a minimum of 25 seconds and the total amount of time spent on that page, Brave calculates an attention score. Other information such as the kind of content that is entertained is recorded and sent to the ledger system of the browser from where the payments to the publishers and the users are made on the basis of the final attention score.
Why is BAT a good investment?
Although users have the option of using ad-blockers and the like to enhance their internet experience, it is not a very far-sighted solution. Many websites counter this by either displaying a big pop-up on the screen which the users are required to close every couple of minutes or by blocking the user altogether till they remove the ad-blocker.
Even for advertisers, advertising via social media and other digital platforms proves to be a deal of loss since those platforms often keep between 60-70% of whatever is earned.
BAT is providing a solution which is far-sighted, well thought of, and useful for both the users and the advertisers. The BAT along with the Brave browser will create a rewards-based marketing system where rather meaningful relationships can be created between the user and the advertiser. With BAT, the digital advertising experience gets democratic.
The reasons for using the Brave browser do not end there. The browser can be considered for plenty of other reasons too.
Private Internet: it is a fact that the internet is not private. The platforms you visit are watching your activities like Big Brother. But with the Brave browser, absolutely no record of your online activities is maintained and therefore the third-parties fail to supervise you.
Faster, simpler browsing experience: The Brave browser has ad blockers inbuilt in it. Every single pop-up ad is gone and the sites load faster. The only content you see is the one you wish to.
BAT is a utility token: there is rarely a life today that can work well without the internet. The exchange platform that BAT is aiming at building appears to have a high utility rate given the demand and need of the internet and digital advertising. Moreover, to invest into the cryptocurrency sphere via something this useful is a rare opportunity to come by.
BAT is a fair and decentralised platform that, if employed to its full potential, can change the way digital advertising works today. But like is the case with everything, BAT has its cons.
The success of the BAT depends on the mass adoption of the Brave browser. It is a little too ambitious for the team to expect people to give up Google Chrome or Safari and turn to an entirely new browser. Moreover, the advertisers can have a hard time finding the right user. Is the user someone who wants a faster experience without advertisements and wants to get paid for the advertisements he does watch or someone who wants to see relevant ads and save mobile data? Or is the user someone with all of these traits?
Brave is not the first project to bring the blockchain technology in the digital advertising space. Adshares and Papyrus are some strong competitors that Brave has to fight against. However, Brave does have the advantage of comprehensive user involvement over the former two.
The Bottom Line
The increase in price may also be explained by positive developments including:
February 24: HowToBasic (Youtube Personality with 10 million subscribers) becomes a verified creator with Brave.
February 24: and Bart Barker (Youtube Personality with 20 million subscribers) asks his audience to download Brave.
March 2: Basic Attention Token announces a million dollar referral program allowing Twitch streamers can earn revenue with the brave browser and BAT!
March 20: Basic Attention Token announces Batify extension for Google -1.04% 0.15% -0.44% Chrome.
April 4: Brave for Android is nominated for a #webbys People’s Voice award.
April 14: Brave hits 2 million Monthly Active Users and Distributes Million Dollar BAT Referral Program to Content Creators.
April 14: Brave added to all desktops at UC Berkeley, Open Computing Facility (OCF).
April 19: Announcement that the Basic Attention Token, the creators of the Brave Browser have secured a partnership with the Dow Jones Media Group (creators of the Wall Street Journal) to provide access of two years of free access to its Barrons.com website or to a premium MarketWatch newsletter. This is believed to change the online advertising landscape and one of the first validations of blockchain tech into online advertising.
April 19: It has also been reported today that Dow Jones Group has begun testing of Brave Software to replace it’s reliance -1.39% on online ads.
May 4: Brave announces partnership with Town Square Media to monetize ad-blocking traffic and test blockchain-based digital advertising.
May 12: BAT/BRAVE Open New Office in London, UK; Presentations in Singapore and South Korea.
May 12: BAT nominated for Best Project in the Crypto Influencer Awards
May 30: Brave notes that it has 2.4 million monthly users, over 400,000 BAT wallets and 6,000 verified publishers including 11,000+ YouTube channels with over 180M subscribers.
June 14: The Wall Street Journal features Basic Attention Token in its “25 Tech Companies to Watch for 2018.”
Token Value Information
Total Supply: 1,500,000,000 BAT
Circulating Supply: 1,000,000,000 BAT
Market Cap: $254,490,000 USD
ICO price: $0.175 USD
Current price: $0.254 USD
0.00003800 – 0.00004200
Target1 : 0.00005000