The Basic Attention Token (BAT) coin is an ERC20 token built on the Ethereum network designed to be a blockchain solution to the stagnant digital advertising industry. Used in combination with the newly created Brave web browser, BAT tokens can be earned by consumers and digital publishers alike based on viewing of digital ads. At the same time, digital advertisers can see a higher return on investment from this incentive based system.
The basic premise that BAT is working with is that consumers don’t want to watch advertisements unless incentivized and advertisers are willing to pay to get the attention of a consumers. BAT works to incentivize both parties to allow for a more free-market of digital advertising.
Consumers are unaware that banner ads and mobile advertising in its current state can increase phone bills up to $23 per month in data charges and decrease battery life by over 20%. The advent of pop-up blockers has led to a significant decrease in revenue for publishers and has become increasingly prevalent not only on desktop browsers, but mobile as well.
The solution to this problem comes in two forms, the Brave web browser and Basic Attention Tokens. Brave is an open-sourced web browser that blocks third-party ads and trackers and is built on a ledger system that measures user attention while rewarding publishers accordingly for placing ads that get viewed and rewarding consumers for taking the time to view ads.
With an experienced technical team and a concept that inserts itself in the middle of a multi-billion dollar industry, BAT could find itself to have large-scale application and value in an industry that is desperate for disruption. The Brave Browser has already been released to the public and the project just released 300,000 BAT to users in an attempt to incentivize the use of the platform.
The project does not come without its issues, mainly from the legal and adoption perspectives. If Brave is able to display to large publishing entities that its system can provide better margins and investment for their bottom line it could mean big profits for holders of this coin in the years to come.
Interesting facts about Basic Attention Token:
- The digital advertising market is expected to double from 2015 to 2020, creating a large potential market for Brave and BAT;
- Brave raised $30 million in 30 seconds during their ICO in June 2017;
- The price of BAT gained 110% from June 1, 2017 to December 31, 3017 from $0.168 to $0.354.