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Crypto of the Week: Basic Attention Token

  • November 05 2021
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Crypto of the Week: Basic Attention Token

By Fergus Halliday
November 05 2021

The Basic Attention Token is trying to reinvent the way that digital advertising works, but is it worth adding to your portfolio?

Basic Attention Token

Crypto of the Week: Basic Attention Token

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  • November 05 2021
  • Share

The Basic Attention Token is trying to reinvent the way that digital advertising works, but is it worth adding to your portfolio?

Basic Attention Token

The Basic Attention Token isn’t one of the most lucrative cryptocurrencies out there, but it does offer a distinct example of how blockchain technologies can be applied in contexts outside of decentralised and digital finance.

If you’re trying to wrap your head around the BAT token before you invest in some, here are a few things you’ll want to keep in mind.

What is the Basic Attention Token?

The Basic Attention Token is a platform that uses the blockchain to reinvent the way that digital advertising works. The infrastructure of the network itself is modelled on the Ethereum blockchain, but the implementation is vastly different and more consumer-focused.

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The Basic Attention Token is intertwined with Brave web browser. A privacy-first alternative to Google Chrome, Apple Safari and Microsoft Edge, Brave is a web browser with a built-in ad blocker.

However, that’s not to say that Brave is a web browser that entirely eliminates ads. Instead, it puts consumers in the driver’s seat. The more ads they consent to see, the more BAT tokens they’ll earn as compensation.

On the other side of the table, those looking to get around Brave’s ad-blocking are able to pay publishers who have signed on to the Brave platform in BAT tokens in order to show those ads to their users, and specifically those with high engagement.

The idea here is that advertisers are able to do so more efficiently while consumers and publishers are able to profit from allowing them to do so.

For investors considering the BAT token, the primary driver of price is the popularity and size of the Brave ecosystem.

Unlike many other cryptocurrencies, the BAT is a non-inflationary token. There is a capped amount of BAT in circulation. This means that the price and value of the token will rise and fall with the number of advertisers and consumers who use the Brave web browser.

At the time of writing, Brave is said to have around 36.2 million monthly active users.

Who made the Basic Attention Token?

The Basic Attention Token was made by the same developers behind the Brave web browser, with Brendan Eich and former Mozilla CTO Brian Bondy credited as founders.

Overall, the team behind the project is said to be around 16 people in size.

What is the BAT token used for?

The BAT token can be spent by advertisers to target consumers using the Brave web browser.

BAT tokens are also earned by Brave users who consent to see advertisements.

BAT tokens that are earned can then be bought or sold on the crypto exchanges for other cryptocurrencies or fiat currencies. 

How much is the Basic Attention Token (BAT) crypto worth?

As of 4 November 2021, BAT is priced at US$0.9542 per unit.

Tallied up at that price, the Basic Attention Token has a market cap of approximately US$1.4 billion.

For comparison, Bitcoin (BTC) has a market cap of US$1.3 trillion, while Ethereum (ETH) sits in second place at US$490 billion. 

Where can you buy the BAT token?

The BAT token is available from most major and mainstream spot exchanges. This list currently includes:

  • Binance
  • Coinbase
  • Huobi Global
  • FTX
  • Kraken

 

Crypto of the Week: Basic Attention Token
Basic Attention Token
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About the author

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Fergus is a journalist for Momentum Media's nestegg and Smart Property Investment. He likes to write about money, markets, how innovation is changing the financial landscape and how younger consumers can achieve their goals in unpredictable times. 

About the author

author image
Fergus Halliday

Fergus is a journalist for Momentum Media's nestegg and Smart Property Investment. He likes to write about money, markets, how innovation is changing the financial landscape and how younger consumers can achieve their goals in unpredictable times. 

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