Digital advertising’s shortcomings are becoming more and more obvious as it becomes more prevalent. Internet users are constantly bombarded with intrusive advertisements that slow down page load times and breach their privacy by tracking them and sharing their data with third parties with or without their knowledge.
Furthermore, mobile advertising may use up to 23% more battery life. As a result, hundreds of millions of devices all around the world now utilize ad-blocking software. But this also implies that conventional publishers are losing money. It is obvious that the present system has to be fixed, and the basic attention token (BAT) may well be the answer.
This practical guide will teach you all you need to know about the project and get you ready to start using it.
Basic Attention Token (BAT): What Is It?
The $330 billion digital advertising market is about to transform thanks to the Ethereum-based basic attention token (BAT), which will establish a blockchain-based digital advertising exchange with zero danger of fraud. The basic attention token is meant to design a transparent, decentralized advertising environment that is advantageous to both clients and consumers.
The same company that created the token also created the Brave browser, which links publishers, marketers, and users in a win-win arrangement. The BAT crypto serves as the system’s reward unit and offers advertisers and publishers more affordable consumer attention, while viewers of the advertising gain from more relevance, increased privacy, and a cut of the tokens spent by advertisers.
What Is the Basic Attention Token Process?
With Brave shields, an open-source privacy-focused browser, all unwanted advertising, and trackers are automatically blocked. To enhance users’ exposure to advertising, it also uses an integrated ledger system to track anonymously user attentiveness. This is accomplished by figuring out how long each advertisement is shown to a user and how many pixels they can see.
Through the use of in-device machine learning, Brave links to content with relevant advertisers. At the same time, feedback mechanisms make sure that consumers see advertisements for the goods they are most likely to purchase. The identities of its users are protected by Brave, and all of this data is encrypted and saved alone on the device.
The option to enable Brave Ads, which gives users basic attention tokens in exchange for the amount of time they spend watching adverts, is available to anybody who uses the browser. Additionally, if users activate the Brave rewards feature, their selected monthly BAT token donation will be automatically split across the websites they visit based on the amount of time they spend on each.
Additionally, consumers have the option of directly tipping their favorite content producers via the reward panel of their browser or by clicking the tip icon located next to the URL bar on websites like Reddit, Twitter, and YouTube.
What Is Special About Basic Attention Tokens?
Brave is not like other browsers because of its shields and its ledger system for measuring the attention that users pay to websites. Additionally, it loads sites more quickly than its rivals since it blocks tracking and advertising.
By giving consumers a part of ad income and the option to pay their favorite content producers directly, the basic attention token establishes a new, effective market that stands out for its novel potential for advertisers trying to target quality customers.
Although there are other products with comparable objectives, basic attention token has by far had the most success. Over 1 million verified content providers, including 50 Cent, The Guardian, Wikipedia, and The Washington Post, have registered for BAT incentives.
Basic Attention Token Use
At the time of writing, advertisers must agree to spend a minimum of $2,500 each month, which must be paid in basic attention token (BAT). Users can opt to tip content producers directly or through auto-contribution after sharing the money with them. Earned BAT points can be exchanged for gift cards, sweepstakes entries, and donations to worthy charities in the rewards marketplace.
Because transactions using BATs may take place directly on the Ethereum blockchain, this cryptocurrency can be useful in a variety of contexts other than the BAT ecosystem. Purchasing items from the Brave swag Store, participating in blockchain games for events and NFTs, lending, derivatives, and liquidity pools conducted using decentralized finance (DeFi) protocols such as Compound and Aave (non-fungible tokens). Of course, BAT may also be exchanged on a wide variety of cryptocurrency exchanges.
Final Thoughts
BAT is certainly a token worth watching for the future of digital advertising. It’s refreshing but unsurprising to see a team tackling something as large and unwieldy as digital advertising with a blockchain-based solution. BAT is taking on an insurmountable problem, which makes it one of the most exciting tokens on the market today.