Imagine getting paid for the content you create or the ads you view.
This is the new model the creators of BAT and the Brave browser are building - advertisers pay people who view their ads and the viewers of their ads pay content creators.
Said another way, value is provided to the three parties involved in the current web monetization chain.
Because of that, the BAT cryptocurrency is aiming to become the currency traded in these value exchanges.
Basic Attention Token (BAT) is an ERC-20 token powering Brave (a free privacy-focused web browser) and its native advertising platform.
BAT is rewarded to Brave users after viewing opted-in advertising from the Brave native advertising network.
It can also be purchased and traded on Bitbuy.
1. Creates a more symbiotic relationship between advertiser, content creator, and consumer.
2. Ensures advertisements are seen by a willing audience.
3. Places privacy back in the hands of the consumer.
4. It is attempting to become the web-native token of value exchanges between advertisers, creators and consumers.
5. Rewards can be exchanged for currency which is unlike most other loyalty or reward programs.
6. Value of the reward (BAT) could increase as the demand and price for BAT increases. Most rewards go down in value (over time).
Brendan Eich (CEO) and Brian Bondy (CTO) created Brave Software and BAT. Brendan is also known for creating JavaScript programming language and co-founding the Firefox web browser.
BAT is based on the ERC-20 token standard. It is bridged to both the Ethereum and Solana blockchains. Offering utility in both Ethereum and Solana ecosystems.
Brave is attempting to create the native digital native web token.
The Brave ecosystem wants to establish more ethical parameters around digital advertising. They attempt this by giving value to both creators and consumers who are disproportionally compensated in the current web monetization structure. Brave's hope is to create a more aligned advertising environment and overall healthier web monetization ecosystem.
No new BAT is being minted or created. Its total supply is 1.5 billion tokens, almost all of which is currently in circulation.
In May 2017, one billion BAT were sold. Also, a development team pool was created, made up of 200 million tokens. Finally, they created a user growth pool of 300 million BAT.
The tokens in the user growth pool were used to attract participants to the BAT ecosystem and reward early adopters. After the pool is depleted, no new tokens will be created.
Currently, BAT can be purchased and exchanged by advertisers to place their ads in front of opted-in Brave users.
The opted-in Brave users receive ~70% of the bounty the advertiser pays to get their ads in front of them. The remainder (~30%) goes to Brave.
Additionally, Brave users can reward content creators by tipping them with BAT.
Because there’s a fixed supply of BAT, it doesn’t get burned. However, some BAT can be taken out of circulation if users happen to lose their wallets.
BAT is deflationary due to its fixed supply and the likelihood of people losing or misplacing their BAT.
You own the ability to transact in the Brave ecosystem. You can tip content creators, exchange BAT for other cryptocurrencies, and possibly soon use BAT to make web-based purchases.
BAT has the following in it’s plans:
- Partnerships, like one with Tap, for swapping rewards, like hotel discounts
- A BAT utility for search engines
- Using BAT for ecommerce
- Rewards for Internet Professionals and Network Solutions (IPNS) content
- Using BAT for content pinning and file sharing with The InterPlanetary File System (IPFS)
BAT has the following risks:
- The Brave Browser and BAT payment system are extremely centralized since they’re run by Brave Software Inc. A closed ecosystem may affect a utility token’s value negatively because of the potential low adoption.
- Although users are increasing, overall usage for the Brave browser is relatively low when compared with other browsers. Google Chrome is the most used web browser by a very large margin.
- BAT’s launch sale was contentious because less than 200 people participated.
- The SEC could deem BAT a security
These risks could affect BAT’s price.
BAT ticker: $BAT
Max Supply: 1,500,000,000
Total Supply: 1,500,000,000
Circulating Supply: 1,495,680,554
Market Cap: CA$575,991,345
Fully Diluted Market Cap: CA$578,289,146
Price: CA$0.385
ATH: CA$2.64
TPS (Transactions per second): 15 (average)
Crypto Asset Statement - Basic Attention Token (BAT)
*as of October 20th, 2022 at 11:00AM ET
Explore and compare the price of BAT with the other popular digital currencies we offer on Bitbuy.ca/prices.
