Blockchain has received enormous attention for its flexibility in being applied to practical needs. There has been a consistent flurry of applications of the technology in various industries, from supply chain to digital advertising.
Basic Attention Token (BAT) is a unique token whose value is based on a user’s engagement with digital advertisements. BAT operates on the Ethereum blockchain and improves the quality of interactions between advertisers, publishers and viewers. The token should lead to more precise advertisement targeting, fewer irrelevant ads and an incentive for better content to be published.
On January 17, 2018, Brave announced they are offering a $1 million giveaway of BAT tokens. You can participate in the giveaway right now by downloading the browser and accepting the promotion offer. If you’re worried that you might not receive the tokens in time (first come, first serve!), don’t. Brave plans to host more promotional giveaways.
The BAT token has enormous potential to disrupt the current advertising norm. Over 500 million people use an adblocker to block advertisements and this is largely because they are intrusive and irrelevant. BAT offers a way to measure the quality of an advertisement, thereby offering a way by which users can be shown advertisements that would engage them.
The platform’s plan includes YouTube and Twitch – 2 online content portals with an enormous audience and revenue generating capability. In 2017, the total amount spent in digital advertising was estimated to be approximately $270 billion.
This giveaway is a bid to encourage users to support content creators, helping them develop time-worthy content. Brave wants to improve interactions for both parties on either side. The browser lets users contribute monthly to their most visited content publishers while keeping ad content minimal.
As YouTube has been receiving some flak for their recent demonetization moves, BAT may serve as the perfect antidote for content creators – a fair way for them to be compensated by the community for their work.
In fact, YouTubers may find BAT’s revenue models more lucrative than YouTube’s could ever be. Philip DeFranco, a YouTube celebrity who made his name as a reporter on current events as the host of the Philip DeFranco Show, recently voiced his support for the coin on his Twitter page. David Rubin, of the popular YouTube talk show Rubin Report, has also shown interest in BAT.
BAT works with Brave Payments on the browser and BAT ads. If you sign up for the giveaway, you will receive your tokens on the Brave Payments wallet. This wallet will let you allocate monthly contributions to your favorite content publishers in a very simple manner.
BAT is an example of blockchain technology executed right. It works on a unique but practical use case that benefits both the seller and the buyer.
Privacy is becoming an increasingly scarce resource and the power of corporate powers to influence an individual is frighteningly potent. Users therefore have to take precautions such as ad blockers, which hurt genuine publishers who look to advertisements to earn their living. BAT offers an ideal solution to everyone’s woes.