Basic Attention Token (BAT) is the native cryptocurrency of Brave browser, a decentralized web browser that aims to empower content creators and consumers. The Brave software is one of the world’s most widely used decentralized applications (dApps) and is the first in the crypto market to have more than 1 million users.
The Basic Attention Token crypto serves as the utility token of the Brave ecosystem. Users who download the browser and surf the web through it earn Brave Rewards in BAT for viewing ads.
BAT is also used to incentivize content creators and publishers on the platform. In addition to revenue generated through ads, the Brave browser also pays them through user contributions and tips.
Brave’s most unique feature, however, is that it offers better ROI for advertisers on its platform without violating end users’ privacy. Unlike centralized online services, the Web3 dApp Brave does not misuse users’ browsing data to push targeted advertising, giving them more control over how their data is used.
The Basic Attention Token is the utility token of the Brave browser and is designed as an ERC-20 token on the Ethereum blockchain. It is the native currency among content creators, publishers, advertisers, and end users who utilize Brave’s decentralized platform designed on blockchain technology.
Here’s how it works for each of the participants within the Brave ecosystem:
Users who join the Brave Verified Creator Network can receive rewards in BAT tokens whenever they create and publish their work online. The browser offers revenue for viewership and allows them to acquire random BAT rewards from content consumers who wish to contribute or tip them.
Brave offers advertisers a way to generate ad campaigns with higher effectiveness and returns without compromising on users’ privacy, unlike other leading web browsers in the market. Advertisers can pay content publishers in BAT to capture the users’ attention and plug their ads into their content.
End users receive payment in BAT for viewing and interacting with ads pushed on the Brave web browser. The Basic Attention Token incentivizes their interaction with the browser and its content, making them active participants in the marketing lifecycle through the power of decentralization.
In addition to existing on Ethereum as an ERC-20 token, the BAT crypto can also be bridged to the Solana blockchain to offer utility on the high-speed network.
Developers behind the project are also integrating DeFi capabilities into the BAT coin by introducing the Brave wallet, which has DeFi and NFT support. In addition, the Brave Swaps feature offers multi-chain support and is a convenient way to swap crypto tokens. Paying transaction fees with BAT on Brave Swaps gives users discounts.
Basic Attention Token and the Brave browser were founded by Brendan Eich - founder and CTO at Mozilla, and Brian Bondy - a software engineer with prior experience at Mozilla, Corel Corporation, and Khan Academy. The duo founded Brave in May 2015 as an innovative way to rectify the issues with digital advertising.
The Brave project was a way to empower the industry with decentralization, offering better user privacy and improving value generation and distribution across all stakeholders involved in the world of digital advertising. The first version of the Brave browser went live in January 2016 and raised over $7 million in its first funding round in August.
Although Brave initially used Bitcoin for tipping, scalability concerns about the cryptocurrency led the developers to introduce the native Basic Attention Token (BAT) for the platform. The token was announced in March 2017, and its initial coin offering (ICO) in May 2017 helped the project raise more than $35 million within half an hour.
Brave introduced the Brave Rewards program in November 2019, allowing users to receive a portion of revenues for engaging with ads on the platform. As of October 2022, the platform boasts monthly active users exceeding 57 million, daily active users of more than 19 million, and on-chain transactions of almost 4 million.
As the native cryptocurrency of a popular dApp project, there are several reasons why the Basic Attention Token can be considered a good investment. Rising adoption of the Brave browser by advertisers, content creators, and consumers could surge the BAT price, making it worth including in your portfolio.
The Basic Attention Token price could also trend higher as Brave introduces more applications for the cryptocurrency. As BAT’s DeFi capabilities grow, the crypto could become even more valuable, supporting the BAT price statistics.
A positive mood in the crypto market could also influence higher buying activity, supporting the price of BAT. The Basic Attention Token price could gain as more investors buy and use the token for transactions and other purposes.
The BAT token price holds under the $1 mark as of October 2022, well below its all-time high of $1.92. Analysis of the token’s past performance indicates that supporting market conditions could help it recover to its highest price and make new highs in the future.
However, touching the key $100 mark seems highly unlikely for the Basic Attention Token price, owing to the extremely high total supply and circulating supply of the cryptocurrency. With a circulating supply of more than 1.49 billion, reaching the $100 mark would mean the project has a market cap of nearly $150 billion - an unrealistic valuation for the company.
The BAT price could reach $100 well into the future if Brave’s developers tweak the token’s total supply and reduce it significantly. The circulating supply and total supply of Basic Attention Token should reduce drastically for the possibility of BAT price touching $100 - something that may not happen shortly.
Basic Attention Token (BAT) is the native cryptocurrency of the Brave ecosystem. It has the following use cases:
The Basic Attention Token works as the native currency for the Brave browser to distribute rewards to content publishers, creators, and users who interact with ads supplied by the browser. As a measure of accounting, advertisers also use BAT to share revenue with Brave and the consumers of their ad campaigns.
Several businesses now support BAT as a payment option. You can buy goods and services online using $BAT tokens as the payment method.
The Brave Wallet’s Swaps feature lets you swap one digital asset for another across multiple blockchain networks. Holding BAT in the wallet and using it to pay transaction fees for the swaps lets you enjoy discounts when swapping tokens utilizing this feature.
The Basic Attention Token is a popular cryptocurrency to trade or invest in. You can buy or sell BAT against other cryptocurrencies or hold it long-term if you believe in the future potential of the Brave project. Review the real-time Basic Attention Token price, BAT market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade BAT in the market.
You can invest in Basic Attention Token to generate passive income. Visit the KuCoin Crypto Lending page to lend liquidity for BAT on our platform. Earn exciting daily interest for lending Basic Attention Tokens over seven days, 14 days, or 28 days.
While several cryptocurrencies support mining, the Basic Attention Token does not feature in the list. The developers behind the project mined all BAT tokens at the time of its ICO launch.
The Basic Attention Token has a fixed supply of 1.5 billion BAT tokens. No additional tokens can be mined or issued.
The Brave Rewards Creators program offers a lucrative way for content creators and publishers to generate higher revenues from posting their content online and engaging with their audience by cutting out the middleman in traditional centralized online content management platforms.
Here’s how you can earn BAT:
1. You are eligible for earning BAT as a content publisher if you create and upload your content on your own website, online publication, YouTube, or Twitch.
2. Sign up for the Brave Rewards’ Creators service at the link by creating an account with your email address.
3. You can earn rewards in BAT whenever users view the content you produce and publish on the sources mentioned above.
4. Your subscribers, followers, and fans can also contribute a portion of their BAT earnings as tips to support your work. This can be set up on a monthly recurring basis or as a one-time tip.
5. As a verified content creator on Brave, you can also access the Creators dashboard, which provides information on all your tips and gives you a referral link for higher earnings.
6. The Creators self-serve platform lets you convert your $BAT earnings to other currencies via Brave’s partnership with Uphold.