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What Is Basic Attention ?
Basic Attention is a new cryptocurrency platform and token that is aiming to re-invent online advertising using the power of the blockchain. The advertising industry is extremely messed up.
Most of the money in the industry is being taken away by middlemen that charge a hefty amount for their services. The end result is poor and not at all what advertisers are seeking. They believe they should be deciding themselves about how to advertise to their potential clients and such.
Currently there is a triangle of advertisers, middle men and viewers.
Basic Attention Token (BAT) is looking at a different model in which money flows from advertisers to content creators and to publications directly without the need for the involvement of middle men. Ad viewers also reward publications in the form of tips as part of this process.
Engagement with ad content is an extremely contentious issue. On one hand you cannot do it without collecting data of your customers while on the other hand too much data of the masses is illegal and unethical. To break this stereotype, BAT has announced a whole new browser for this purpose.
The browser is called Brave and it has gained a reputation among users as a browser that respects the privacy of the people and their online data while at the same time giving real-time data of the ad performances. BAT envisages mass participation of the people in the new browser and earning BAT tokens in exchange for viewing promotional content. To get started with the BAT token you have to have the Brave browser in working condition.
Brendan Eich-co-founder and former member of the Mozilla foundation.
Brian Boody- co-founder and Browser developer
Yan Zhou-Security and Privacy Engineering
Scott Locklin-Smart Contracts and Economics
And many others.
The BAT token was raised through an Initial Coin Offering held in June 2017. All the coins come pre-mined and there is no official minin in the BAT platform so mining activity is present. But, you can involve in their development efforts to earn new coins for the future.
Notes for Investors
The price of the BAT token has been remarkably consistent since their June release. A particular reason for this increase could be the fact that many crypto users couldn’t get their hands on the new coin at the time of the ICO where it raised more than $30 million in a matter of minutes. The current price is around $0.19 and the total market cap is around $192 million.