Within the fast-paced world of cryptocurrencies, doubts and uncertainties typically come up. Folks marvel, “Is crypto useless?” Effectively, we're right...
Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers with a better return on their ad spend.
To learn more about this project, check out our deep dive of Basic Attention Token.
This experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so. On the other hand, advertisers can deliver targeted ads to maximize engagement and cut down losses due to ad fraud and abuse.
The Basic Attention Token itself is the unit of reward in this advertising ecosystem, and is exchanged between advertisers, 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 — whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.
Basic Attention Token launched in 2017 following one of the fastest sell-out initial coin offerings (ICOs) of all time, with the platform raising a total of $35 million in under a minute. Since then, it has rolled out its attention-based advertising experience to users in most countries through its Brave Rewards program.
As of November 2020, the United States, the United Kingdom and Canada had the most active advertising campaigns.
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