While trading on AAX, you’ve probably come across Basic Attention Token (BAT) more than a few times. BAT’s price has recently crossed the 1-dollar mark for the first time in three years, and with the market cap slightly over 1 billion dollars, the token currently occupies the position in the ranking of top 100 cryptocurrencies.
This might lead some to wonder whether or not they should invest in BAT.
What is BAT (Basic Attention Token)?
Technically, Basic Attention Token is an ERC-20 token, which means that just like any other ERC-20 token, it is secured by Ethereum’ proof-of-work (POW) consensus algorithm.
Conceptually, the token is an active part of the browser called Brave. Brave is an autonomous browser, like Google or Safari, where advertisers pay potential customers for viewing their ads.
The uniqueness of the Brave browser resides in the fact that the browser respects customers’ privacy. It has more than 25 monthly active users and Tailcat, a search engine developed by Cliqz, under the hood. The BAT token is one of the revenue drivers for Brave.
BAT token in the Brave ecosystem
In itself, the BAT token is a reward, but it can change hands between users, advertisers and publishers as a valuable asset, too. Just like businesses pay for Google Campaigns while using Google, so do advertisers in the Brave browser pay in BAT tokens to the ecosystem. Later, 70% of the amount gets distributed among users who are about to view ads.
How do users earn BAT tokens?
Customers decide to earn BAT and view privacy-preserving advertisements which are displayed in the browser. For that, they receive BAT rewards. At the same time, companies that advertise their services deliver targeted ads, which maximizes engagement of the potential clients and cuts down losses. It is reported that as of November 2020, Three most active regions that can’t get enough of the Brave features are the United States, the United Kingdom and Canada, as of November 2020.
However, privacy and a unique ecosystem goes with the price. Advertisers should be prepared to spend a minimum of $2,500 per month if they want to launch their campaign in Brave. Interestingly, the advertisers are required to pay the whole budget in Basic Attention Tokens. It means that advertisers have to purchase the BAT tokens from a variety of crypto trading platforms, so why not give it a go on AAX? Such an approach makes sense, since crypto is the most private way to settle payments.
BAT ICO in 2017
At the height of the ICO craze, in 2017, BAT sold-out its ICO for $35 million, offering 1 billion BAT tokens to investors. The amount was collected in under 1 minute.
The remaining amount of tokens was divided in two parts: 200 million tokens were left aside for developers and 300 million BAT were locked for the prospectively growing user base.
Just like any other cryptocurrency, the BAT token can be bought directly on AAX as well as traded against any other asset.