Basic Attention Token: Get Paid By Watching Ads!

  • What Basic Attention Token is
  • What Brave browser is
  • Why you might want to start using Brave browser
  • The team behind Brave browser
  • BAT’s controversial ICO
  • BAT’s tokenomics
  • Bonus: a browser test from the author
Basic Attention Token: Get Paid By Watching Ads!
Basic Attention Token: Get Paid By Watching Ads!
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What Is the Story All About?

We’re all annoyed by the waves of spammy ads we have to navigate through every time we browse the web. Ads have become a regular thing, constantly consuming more and more of your data usage. Even if you set up specific ad blockers, sometimes they fail to stop the ads. It’s as if the ads have adblocker blockers! What if we told you there’s a project that allows you to earn Crypto by viewing ads? And not just any ad, only those that are relevant to you. Raised your eyebrows, huh?

Those Infamous Ads!

Not only do ads interrupt our browsing experience, but they also cost us money! Ads and third party trackers can consume up to 50% of your mobile data since the ads load first and the content loads afterwards. Also, they can affect your phone’s battery life by up to 20%. Not only that, but third-party trackers are infamous for even hearing into your microphones so they can show the ads most relevant to you! Someone experimented with this by closing their browser and talking about dog toys for almost two minutes. Then, when they opened a few pages, dog toy ads were everywhere. A bit creepy, isn’t it?

Basic Attention Token (BAT) and Brave browser are here to solve problems associated with advertising and revolutionise the digital advertising industry. Curious to know what this new magic is? Follow me to the next paragraph. Before learning about BAT, we need to know about the Brave browser.

What Is Brave Browser?

To put it simply, Brave is a web browser integrated into the BAT environment. It is based on Chromium and is open-source, decentralised, and private. The most amazing thing Brave does is that it blocks all those annoying pop-up ads and trackers by default.

Privacy on Brave Browser

Brave is deeply focused on privacy, which is something other browsers aren’t too keen on. When you browse using Brave, all your data is kept entirely private. The information required for ad-matching is unavailable, and the browser automatically blocks third-party trackers.

Speed on Brave Browser

Brave browser is also impressively fast because of reducing data consumption and saving battery drain from loading ads. In a speed test, compared to other browsers, the Brave browser loads pages two times faster on a desktop and eight times faster on a cell phone.

How Brave Browser Handles Advertisement?

Besides protecting privacy, Brave aims to shake the digital advertising industry since it is filled with bots, fraudsters, and mediators such as Google and Facebook. These middlemen tend to take a share of 73% of all ad dollars and 99% of all growth. Also, bots have caused $7.2 billion in advertisement dollar fraud. Keep reading to learn how Brave solves this issue.

What Makes Brave Stand Out?

By using Brave, you earn up to 70% of the ad revenue in BAT coins, which you can then deposit or tip your favourite creator on Twitter, Reddit, Youtube, Vimeo, Github, and other platforms. They can also be used for purchasing gift cards for Amazon, Walmart, and Uber through the TAP network!

Brave browser monitors your behaviour to determine what type of content you interact with the most. To be precise, it gathers data of active tabs, keywords, search URLs, and browsing information. Based on the information gathered, Brave determines what type of ads a user is more likely to see. Since Brave uses blockchain technology to track the data it collects, it is next to impossible to interfere with. Not only is it monitoring user attention, but it also measures the “attention value” of every ad on the browser. The browser also detects if the users are at the preferable time to show them advertisements. If it detects the user is not, it simply won’t show any ads.

Basic Attention Token

BAT stands for Basic Attention Token and is an Ethereum-based digital advertising asset that aims to develop a method where creators, users, and advertisers can connect in a decentralised manner. With BAT, users, creators, and advertisers are rewarded, and it is something that draws a lot of basic attention to this token!

BAT, Ads and Rewards

Basic Attention Token provides a new way for advertisers, users, and creators to interact and profit from each other. Here’s what happens in practice:

  • Advertisers pay creators in BAT coins to have their ads viewed by users.
  • Users earn Brave browser rewards as BAT coins for viewing customised ads.
  • Users can tip their favourite content creators in BAT.
  • Publishers receive BAT based on user “attention”.
  • Advertisers achieve greater ROI results because of better user targeting and no fraud.

As seen above, BAT creates a win-win-win situation for users, creators and advertisers. It’s the reason why the BAT logo has 3 points in it.

Brave browser matches ads to users using a machine learning algorithm instead of tracking or collecting user data. It means no browsing activity ever leaves your device. You can also choose how often you see the ads or decide not to see them at all and just enjoy the built-in ad and tracker blocker.

BAT’s ICO Controversy

BAT’s ICO might be one of the most controversial ICOs in the history of cryptocurrencies. It is because the project met its goal ($35 million) in only 30 seconds! Also, only 130 people bought BAT, and just five people managed to purchase half of the entire supply. It suggests the project is not as decentralised as other crypto projects.

BAT Available Markets

BAT can be used in Compound and MakerDAO as collateral to generate loans and earn interest. Since you are earning interest or passive income by putting your tokens in optimised space, you are, in fact, doing yield farming (the process of placing your crypto assets in the most optimised space so you can earn more crypto). According to a report by dapp.com, BAT was the most used coin in Q2 of 2020 by generating the best return on Compound. BAT is available on well-known exchanges like Binance, Kraken, Gemini, and many more.

Tokenomics of BAT

BAT has a $1.1 billion market cap, sitting at the rank 86 of market cap rankings. It has a max supply of 1.5 billion BAT, almost all of which is in circulation. BAT had a trading volume of $173 million in the last 24 hours (25 Jan 2022) and is being held in 437,000 wallets. The liquidity score of BAT is 59%, and this year’s ROI for bat has been 123%, meaning if you had invested $100 in BAT, you would have $123 by now. Bear in mind that BAT isn’t a token designed for being held; it is intended to be profitable in other ways we just discussed.

Team Members Are More Like Titans!

The Brave project has a competent team; consisting of members who are on top of their game. The founder of the project is Brenden Eich, the creator of Javascript itself and Co-Founder of the Mozilla Firefox web browser. He has used his experience to create a new browser that “aims to revolutionise the online advertising space”. Brian Bondy is the Co-Founder and CTO, who also was a key member in the development of Firefox, as well as Evernote and Khan Academy. Yan Zhu is the Chief Information Security Officer and is responsible for the privacy and security of the browser. Zhu is on the list of Forbes 30 Under 30 and was with Yahoo as part of its security team. She was also chosen to be a part of the World Wide Web Consortium's Technical Architecture Group. The staff know damn well what they’re doing, don’t they?

BAT’s Roadmap For 2022

In 2022, Brave and BAT aim to focus on growth in the following areas:

BAT DeFi Utility

  • BAT liquidity pool pairing on AMMs and DEX liquidity in Solana, Ethereum L2s, and EVM ecosystems
  • Auto-earn feature support for BAT in the Brave Wallet

BAT NFT Utility

  • NFT Marketplace support for BAT to purchase NFTs in Solana, Ethereum L2s, and EVM ecosystems

BAT Metaverse and Gaming Utility

  • Support for BAT to purchase NFTs, access content, and be utilised with strategic partners in Metaverse applications and blockchain gaming in Solana, Ethereum L2, and EVM ecosystems
  • Brave Swap Rewards

New Brave Ads Units

  • Brave Search Ads
  • Brave News Ads for Android

Brave and BAT-Themed Collaborations with NFT Projects and Creators

BAT Community

  • Crypto & Web3 education
  • BAT Ambassadors on Campus program for college students
  • More virtual meetups, community calls, AMAs, events, and other opportunities for better community engagement

Brave Wallet

  • EVM and Dapp Support on iOS and Android
  • Convert Wallet to have multi-network support, beyond EVMs
  • Multichain support for Solana, Bitcoin, and Filecoin
  • NFT support on desktop and mobile devices.

Personal Experience

I, the author, have tried the Brave browser and actually used it for doing my research on this project to see for myself if the browser is as fast and private as it claims. Here is my honest and transparent feedback and thoughts on it. I’ve used the browser for one day, and here are my statistics so far:

  • Trackers and ads blocked: 2,501
  • Bandwidth saved: 85.5 MB
  • Time saved: 3 minutes

The browser is super user-friendly, and it didn’t cause my system to get slower, unlike Chrome. It is also speedy, though I can’t really tell if the pages are loading faster than Firefox, it is safe to say it loads just as fast. Also, you can use Chrome extensions since it is a Chromium-based browser. My watermelon cursor is still accompanying me!

Final Remarks

The great thing about this project is you can earn Crypto by doing something you regularly do, i.e., surfing the net. The Brave browser currently has 50 million active users a month and more than 15.5 million daily users with more than 350,000 verified publishers. These publishers include Wikipedia, The Washington Post, The Guardian and many more.

Although we have talked about the pros and cons of this project, you need to remember that we are no financial advisors. What we provide at Cryptologi.st is purely for educational purposes only. We do all the hard work for you and provide analysis on different projects to have everything you need all in one place. All we do is to help you make confident crypto decisions. Now that you know all about the Brave, will you switch your browser to earn BAT? Share your ideas and experiences on our social media.

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