Summary:
- What is The Basic Attention Token Platform and how does it work?
- Advantages of the Basic Attention Token exchange.
- Basic Attention Token’s present and future price positions.
The Basic Attention Token
A new blockchain-based digital advertising network called Basic Attention Currency, or BAT, is powered by this token in order to appropriately reward consumers for their attention and give advertisers a greater return on their ad expenditure.
This service is provided by the Brave Browser, where users can view privacy-protecting advertisements and earn BAT incentives. To increase engagement and reduce losses from ad fraud and misuse, advertisers can provide personalized advertising.
In this advertising ecosystem, users, publishers, and advertisers all trade Basic Attention Tokens, which serve as the incentive currency. BAT tokens are used by advertisers to fund their advertising campaigns. A little percentage of this money is given to advertisers, and 70% is given to users, improving cost-efficiency by eliminating the intermediaries that traditionally push up advertising expenses.
Following one of the most quickly sold-out initial coin offers (ICOs) ever, Basic Attention Token was introduced in 2017. The platform raised a total of $35 million in less than a minute. Through its Brave Rewards program, it has since made its attention-based advertising experience available to users in the majority of nations.
The most active ad campaigns as of November 2020 were in the United States, the United Kingdom, and Canada.
The Basic Attention Token's main application is as a payment token for advertising campaigns that are carried out through Brave Ads. Advertisers will need to commit to a minimum monthly ad expenditure of $2,500 as of November 2020 in order to launch their campaign, while a self-serve platform with potentially lower restrictions is now in development.
This advertising budget is now required to be paid in full in Basic Attention Tokens, which advertisers may purchase from a number of third-party exchange platforms. Brave retains a small portion of this revenue, with the remainder going to users and publishers.
The ability to reward (tip) users who are not yet a part of the network, such as websites and specific Twitter users, is one of the key characteristics of Basic Attention Token and the Brave Browser ecosystem. Then, these users can safely sign up for the platform and begin collecting tips.
Since their releases, Basic Attention Token and Brave Browser have seen a huge increase in user adoption. The Basic Attention Token is now held by a total of more than 368,000 different wallets as of October 2020, and Brave Browser has a total of 20.5 million active monthly users.
The current market capitalisation of the Basic Attention Token exchange is $556,305,816. There is a maximum supply of 1.5 billion BAT tokens, of which 100% are currently in circulation.
Advantages of the Basic Attention Token Network
- The goal of Brave Attention Token is to replace middleman ad exchanges that degrade the advertising experience.
- Developers on the Brave Attention Token team are extremely skilled and devoted.
- The faster speed and total data and information protection offered by the Brave browser.
- Currently, Brave has 10 million monthly users.
- Brave protects users' identity and privacy while simultaneously tracking their attention in real-time.
- Both users and publishers have a high need for what Brave and Basic Attention Token provide.
Present and future prices of The Basic Attention Token network (BAT)
BAT tokens price started low but hit its first price peak of $0.76 early in 2018. Thereafter the price fell, and remained low, however, experiencing a lot of volatility. During the first half of 2021, BAT’s price began to rise and then fall again, followed by a price spike to it's all time high of $1.76 late in November 2021. Since its all time high, the price has consistently fallen.
Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, BAT does fall under this category.
According to some analysts, the future price of The Basic Attention Token network (BAT) could reach up to $1.73 by 2025 and could see a price of more than $10.52 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions.
BAT Price Chart
Sources: finance.yahoo.com, coinmarketcap.com, sashares.co.za, chanegelly.com
