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Understanding Basic Attention Token (BAT) and Brave Browser
Brave is attempting to disrupt the $130B+ advertising industry. Investors can now invest in that disruption through their Crypto IRA retirement account at iTrustCapital with the Basic Attention Token (BAT).
Brave Browser and Digital Advertising Overview
Brave Browser is a privacy-focused web browser that works with cryptocurrencies. The Browser is designed so websites cannot track your actions. In addition, it has an ad-blocking feature that you can enable to enjoy smooth browsing without interruptions.
What makes Brave unique is that it is the first internet browser that rewards users with cryptocurrencies. This unique feature has seen the growth in popularity of Brave globally as millions look to take part in the crypto revolution.
Brave Founding Team / Community
Brave aims to solve these problems by redistributing funds between advertisers, content publishers, and readers using blockchain technology. This, in theory, reduces the number of intrusive ads and protects user's privacy when surfing the web.
Apart from Brendan Eich, other key members of Brave Browser include Brian Brody, a co-founder, and developer with experience with Khan Academy and Mozilla. In addition, Brave has an extensive team with financial and tech background.
Basic Attention Token History/ICO
As earlier stated, the Brave ecosystem is powered by its unique token Basic Attention Token (BAT). The ERC-20 token was launched via an Initial Coin Offering (ICO) on May 31, 2017, to massive success. $35 million worth of BAT was minted within minutes of the ICO. In addition, the BAT team received about $7 million in investment from venture capitalists in funding.
BAT has a total token supply of 1.5 billion. Since the ICO launch, Brave has expanded massively with more than 20 million active monthly users. Basic Attention Token has also circulated widely and is held by more than 300,000 wallets globally. It is also one of the few cryptocurrencies with about 99% of its token in circulation, making it almost fully diluted.
What is Basic Attention Token used for?
Basic Attention Token is a utility token and differs from popular cryptocurrencies like Bitcoin and Ether. It is used to measure, reward, track and sell the user's activities via a simple process.
Advertisers exchange fiat money for BAT on exchanges to pay publishers. Publishers place ads on their content, and users get rewarded for viewing the ads. Users can use the BAT received to buy services that Brave Browser offers or exchange it for fiat money on supported exchanges.
The interesting part is that users choose whether they want to view ads or not. Brave, by default, is set to no ads. To view ads, users have to join a program called Brave Rewards. This ensures that their browsing experience is not interrupted by intrusive ads, but still allows the viewer to get paid to view them.
In addition, publishers that create popular content can also earn when readers tip them using BAT.
Current Basic Attention Token (BAT) Use Cases
Basic Attention Token can be used across a wide variety of industries. This includes decentralized finance, centralized finance, gaming, commerce, philanthropy and more.
Brave has also been integrated into blockchain-based gaming platforms and collaborative efforts for NFT purchases. In addition, the popular Brave Swag Store provides eCommerce integrations as well as NFT collectibles. Lastly, Brave has also integrated a support widget that allows users to support verified causes using BAT as a means of payment for donations.
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