Basic Attention Token (BAT) Overview and Analysis
Basic Attention Token promises to disrupt the $330 billion online advertising industry, what is the project?
12th January 2021, 19:30 GMT
Basic Attention Token (BAT) is a project that is looking to improve the privacy of online advertising for consumers, whilst also improving the efficiency and reducing the cost of advertising online for firms.
The Basic Attention Token is run on the Ethereum network users use the Brave browser to use the service.
BAT classifies 3 major groups within the online advertising ecosystem, these are:
Users - Those that consume content online and are targeted with advertisements.
Publishers - People who upload content online for users and receive a portion of advertising revenue.
Advertisers - Pay for the advertisements towards users.
Basic Attention Token is looking to improve the online advertising process for all of these groups.
The token itself is used as a currency on Brave between these 3 groups.
BAT's mission is to disrupt the $330 billion online advertising industry by optimizing the advertising process for the 3 groups within the online advertising ecosystem.
The unique concept with the BAT project is that they are hoping to monetize user attention, whilst improving user privacy.
BAT also cuts out any middlemen within the advertising process as Brave itself is an advertising marketplace that connects users, publishers, and advertisers directly and in a decentralized process.
Brave stops users from being overloaded with often malicious and dangerous ad trackers which often infringe upon users' privacy.
Furthermore Brave attempts to stop the monopolization of the online advertising space by big tech corporations such as Google and Facebook.
The Brave browser optimizes the user experience as it focuses on tracking user attention in a secure and anonymous manner.
This is done by storing each user's private data on their own device, making it a completely private process.
The data that the Brave browser stores are the engagement a user spends on digital content and advertisement, due to the browser being built on Blockchain this data cannot be interfered with.
By utilizing machine learning, the Brave browser considers how long a user has spent engaging with an ad to optimize what advertisements are shown to users.
Publishers of content on the Brave browser are rewarded depending on the engagement rate of users on their content.
Publishers also receive the majority of the revenue generated from advertising, unlike various other platforms including YouTube where publishers have often not received appropriate revenue.
Users are rewarded for engaging with ads and can receive up to $224 per year as a result of receiving these ads.
Finally, advertisers can rest assured that their advertisements will be targeted to users appropriately and know that their advertising budget will not be going to waste.
Currently Basic Attention Token has recorded some impressive statistics for their platform.
The Brave browser currently records 22.2 million monthly active users.
There are over 990K creators on the platform, with notable YouTube, Twitter, and Twitch creators being present on Brave.
Brave currently holds over 400 advertisers and has hosted over 2.5K advertising campaigns.
Notable advertisers include EToro, Verizon, Crypto.com, and BlockFi to name a few.
This is all even more impressive when considering the Brave browser launched in November 2019.
Ultimately the future of Basic Attention Token looks extremely promising, with a revolutionary concept that looks to disrupt a huge industry.
If BAT continues to undergo the high levels of success it is currently achieving, it is no doubt that soon BAT and the Brave browser will become a real threat to the current online advertising industry.
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Basic Attention Token