“Making Crypto and DeFi accessible and useable for everyone.”
– Basic Attention Token
Note: This is part of Nebeus’ new Coin Analysis series, where you can discover the latest crypto coin news.
What is Basic Attention Token ($BAT) and how does it work?
The question is what would happen if people actually got paid to look at online ads. Many people will actively go out of their way to avoid them when online.
The Basic Attention Token (BAT) is a cryptocurrency with the goal of creating a virtuous cycle of digital advertising that is mutually beneficial to content producers and consumers.
The basic attention token (BAT) is built on the Ethereum (ETH) blockchain and is integrated into the Brave web browser with the goal of streamlining transactions between:
- and internet users based on their browsing habits.
What is Basic Attention Token ($BAT)?
Ad-viewing users are compensated in BAT, publishers can provide more effective ads, and brands can rest assured that their messages are reaching the right people.
The result is an entirely new type of digital advertising platform powered by BAT.
Users of BAT can choose between three different approaches:
- Holding it
- Exchanging it for money or another cryptocurrency,
- or paying it to their preferred content creators.
How Does Basic Attention Token Work?
All BAT transactions are settled on the Ethereum public blockchain, which enables programmers to design and implement unique cryptocurrencies and applications.
What is the Brave Browser?
The team behind the token's creation also created the Brave web browser, which is used by BAT. Brave, a completely free web browser, reportedly loads web pages three to six times faster than competing products because it only displays advertisements to users who opt to view them.
Users of the Brave browser can enrol in the Brave Rewards programme, which enables them to send BAT to content producers whose work they want to support or to receive payment in BAT in exchange for viewing advertisements.
The Brave browser automatically disables tracking and enables ad blocking features. The user must opt in for advertisements to appear. After that, trusted third-party native ads are displayed so users can earn BAT by viewing them on Brave.
What is the Brave Micropayments Ledger?
To keep track of all the BAT transactions, Brave uses the Brave Micropayments Ledger. The Brave Micropayments Ledger is designed to make it possible for readers, publishers, and advertisers to enter into smart contracts to transfer payments between one another.
Brave is looking into the viability of incorporating zero-knowledge proofs into its blockchain in order to protect the privacy of all parties involved in online media transactions.
Basic Attention Token also has a detailed article on their future roadmap that is worth checking out if you’re interested in how the BAT ecosystem is set to progress.
Who is the Founder of $BAT?
“BAT is made up of industry titans.”
– Basic Attention Token
In 2017, Brave successfully completed its initial coin offering (ICO) for BAT, selling 1 billion BAT for $35 million in under 30 seconds. The company had previously set aside 500,000,000 BAT.
A total of 500,000,000 BAT were created, with 200,000,000 BAT reserved for the Brave team and 300,000,000 BAT reserved for sale at a later date to promote the platform.
What is the $BAT Token?
To put it simply, in the business of selling products and services, nothing is more precious than a customer's undivided focus. Prices in advertising are typically negotiated with clients based on the expected number of viewers they will receive for the advertised product.
Though it's impossible to know for sure if those viewers are paying attention. Advertisers on the platform can be more confident that their ads are being seen by compensating viewers with BAT, so they can afford to pay more for that undivided attention.
When users watch sponsored content, Brave rewards them with BAT. Users have the option of exchanging it for cash or storing it in a virtual wallet. Furthermore, BAT can be traded on various exchanges.
Furthermore, the total number of BAT coins is predetermined at 1 billion. When the 300 million BAT set aside to incentivize user growth have been distributed, Brave will cease creating new tokens.
As a result, investors can know that the value of their BAT tokens is fixed at the time of purchase.
How to buy Basic Attention Token? $BAT
To encourage widespread use of the BAT token, the ecosystem has made acquiring them extremely simple. If you have some knowledge of the crypto industry, you can use a credit card to buy BAT tokens or any other cryptocurrency.
The platform is accessible via desktop and mobile app, making it convenient for users to manage both traditional currency and digital tokens. If you want to convert your BAT tokens to dollars, you can do so with little hassle.
What makes $BAT different? Benefits of Basic Attention Token
If they want their content to stay online, creators of online content need to figure out how to make money off of it.
Eich acknowledged the importance of a free and open internet, but he also noted that commercial websites can't thrive without advertising. He claimed that this fundamental "conflict of interest" was to blame for the perpetual game of cat and mouse between advertisers and users.
When it comes to that tug of war, both Brave and BAT would prefer a handshake to a fistfight. With this system in place, both parties can rest easy knowing that their ads are being seen by people who are actually interested in them and not being annoyed by them, and users can keep some of the revenue generated by the ads.
BAT aims to put an end to the prevalent climate of mistrust and aversion by creating an ad platform that serves the interests of publishers, advertisers, and viewers.
There is a Huge BAT Community of Advocates
The extent to which a token or coin is actually used is one of the many elements that determine its value. A token's value increases in proportion to the number of its supporters. The increased demand has driven up the price of that token.
In the United States, the United Kingdom, and Canada, this platform has been instrumental in the launch of a wide variety of projects. These three countries are the primary launch pads for advertising campaigns on this platform. Over 2,500 campaigns have been started on the site from more than 190 different countries since it first went live.
There are over 30 million active users on the platform each month, and over 400 advertisers. More than 368 thousand individual wallets are currently holding BAT, and the number of content creators who use BAT is approaching one million. Since the BAT token is used for everything on the platform, its value is only going up as more and more people start using it.
It Is Stable and Partners with Respected Brands
Credible and respected projects need reliable partners. Partners not only help to elevate the project's profile, but also bring in new revenue streams. They're bringing in their established clientele and professional connections to help the startup expand.
"Pump and dump" schemes constitute the vast majority of the digital currency market. While investors wait for their initial coin offering (ICO) funds to be returned, they shut down. The advertising ecosystem that BAT is building is a bold step forward for the cryptocurrency industry.
There is a lot of optimism surrounding this project, and its backers are dedicated to seeing it through. Some of the names on the list you may recognise are:
- and BlockFi.
As it gains more and more partners, it is able to attract a larger and a more diverse audience of users.
Over a million people have adopted Basic Attention Token (BAT), a token developed by some of the biggest names in the Internet and digital coin industries. BAT is a good investment because its value will increase as its adoption increases.
You Can Invest Your Time, Not Your Money
Most cryptocurrencies require you to have a starting investment amount. First, you'll need to fund your chosen exchange with fiat currency before you can place an order for the desired quantity of coins. But the fact remains that you must make a deposit before you can proceed. You can use other crypto assets to buy other crypto assets.
Compared to these other coins, BAT differs somewhat. Tokens can be purchased with either cryptocurrency or fiat currency deposits, or without exchanging any cash at all. The value of the ecosystem, a platform for advertising, increases as a result of increased customer attention. That means you can trade your time for BAT by simply watching advertisements.
Marketers are willing to shell out money for ad space on the platform because they know their messages will reach the platform's user base. Simply by watching the ads, the audience can earn something extra. Don’t forget: you, too, can join this group of people and reap their benefits.
How many Basic Attention Token ($BAT) coins are there?
Max Supply: 1,500,000,000
Circulating Supply (06/03/2023): 1,497,353,045
Currently, approximately 99.82% of the total supply is already in circulation.
Note: We gather our information from CoinGecko. The numbers written are correct at the time of writing.
What is the Current Price and current Market Cap of Basic Attention Token? (06/03/2023)?
Current Price: $0.253789
Current Market Cap: $380,247,430
Current Market Cap Position: #114
All-Time Low: $0.072394 on July 16th, 2017
All-Time High: $1.90 on November 28th, 2021
Note: We gather our information from CoinGecko. The numbers written are correct at the time of writing. Check out Cryptonews for BAT price prediction information.
Ready to get involved with Basic Attention Token already? Join its thriving community of users and developers on one its channels:
- Basic Attention Token - Reddit
- Basic Attention Token - Twitter
- Basic Attention Token Official - Discord
- Basic Attention Token Website
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