Get to Know BAT or the Basic Attention Token
The Basic Attention Token (BAT) is a blockchain-based digital advertising token. The goal of BAT Token is to build a decentralised marketplace where marketers, publishers, and users may join together. The project’s goal is to monetise user attention while also removing annoying adverts from the network. BAT is valued at 0.70 USD on Coinbase, with a market valuation of $1 billion, $127.6 million in volume, and 1.5 billion BAT in circulation.
Advertising is an essential component of any business; without it, no company would be successful. In any firm, marketing is critical. There are numerous ways to advertise, like billboards on the street, television ads, and so forth.
Let us look at the modern advertising approach dominated by search engine giant Google and social media platforms (Facebook, Youtube, and Instagram, among others). Google is quite popular among marketers. In 2016, it made approximately $ 79 billion in ad revenue, while Facebook made $ 27 billion. Traditional advertising is substantially less profitable than digital advertising.
However, one of the most common issues with digital marketing is the dispersal of advertisements across websites. They are incompatible with the content and the expectations of users. Like those irritating pop-ups that we keep closing again and over. Does this ring a bell?
The system in the digital advertising business is made up of three primary players. The User, Publisher, and Advertiser are all represented here. In most cases, the user is interested in the content of the publication.
In exchange, the advertiser wants to target the user through the content because they are in the same niche as the publisher. The advertiser’s goal, in this case, is to sell the goods. The publisher also receives a tiny commission from the advertiser because it leverages the material to attract the user’s attention. What, on the other hand, does the user get? Nothing, of course.
As a result, the BAT team has devised a strategy to improve the digital advertising system that benefits publishers, advertisers, and users. Getting payment for seeing advertising, receiving a piece of ad revenue as a publisher, generating more money with their content as an advertiser, experiencing quick processes, and maintaining privacy are some of the advantages of BAT tokens.
The BAT team created the Brave browser as an internal browser that combines the BAT system. The native currency for the entire system will be BAT tokens. Brave is primarily concerned about “privacy and speed.” It can prevent annoying advertisements by default. Brave, unlike other adblockers, can block all adverts without discrimination. When you visit a website, you can see how many adverts and trackers the brave browser has banned right away.
Brave browser constantly tracks your attention to see what you’re spending your time on. As a result, the publisher gets compensated appropriately. Brave’s data cannot be tampered with because it is tracked via blockchain technology. Moreover, this browser employs machine learning to track user attentiveness to various advertisements. Users can only see the advertising that they choose to see.
According to Brendan Eich, all users can earn $ 70 per year by seeing advertising right now. This amount will rise to $ 224 per year by 2020. The browser’s most notable feature is its dedication to protecting users’ privacy. The data of users is kept hidden and private. All of the data needed for ad matching isn’t available to the public. Third-party trackers have been disabled.
It also improved the matching of advertisements. It gathers data depending on user behaviour, such as how they browse the internet, keyword search entry information, URLs, and so on. It knows when and where the best times are to broadcast adverts.
Users are no longer required to navigate the page. The browser automatically shows the user what they need, thanks to ad matching. This upgrade will result in improved browsing. A large number of people are already utilising the aforementioned browser. On Android, it has almost 20 million downloads.
From 2014 to 2015, he was a member of Yahoo’s security engineering team. It is worth noting that this group is strong. This endeavour gains strength as a result of this. Because they are not new to what they are doing, investors put a lot of faith in them.
Bat and Brave will only succeed if they have a robust system in place. Advertisers, publishers, and users are the three components of the system. Through attention monetisation, we already know why a user receives an incentive. Let’s concentrate on advertisers and publishers.
The number of people using the internet is growing all the time. On both desktop and mobile platforms, the number of people using ad blockers is growing. Advertisements are, as we all know, a major source of money for both publishers and advertisers. Website owners may need to require a user to properly view a piece of content and disable an ad blocker.
But how does BAT go about resolving this? They offer users rewards in exchange for viewing advertisements. This is great news for anyone who wants to start investing in crypto trading. If you are still undecided about which cryptocurrency to start with, you can use BAT as a practice token.
Note that beginners who are having a hard time with the technicalities of crypto trading choose to consult crypto trading platforms, such as Immediate Edge, to seek professional assistance.
Only the adverts that a user wishes to see can be displayed with the help of a decentralised machine learning platform. As a result, the advertiser’s advertisements are unable to be ignored. The BAT platform is extremely beneficial to content developers. They can earn even more because they don’t require AdSense to monetise their channel.
One of the most popular YouTubers, “Pewdiepie,” is a fantastic example. He barely made $ 12 million in 2017. This year, a large sum of money has been received. Pewdiepie, on the other hand, has 88 million subscribers if you look closely. It would cost $ 44 million if they all sent six 50-cent tips. It’s a lot more than the $12 million he made last year.
The point is that publishers are no longer receiving what they deserve for their hard-won content. It benefits tiny channels in particular, who must still wait to monetise their channels. Once you’ve been recognised as a publisher, you can start receiving micropayments from your subscribers through the BAT system. As a result, numerous publishers have already signed up.
BAT is regarded as one of the most groundbreaking cryptocurrency ventures. It has a lot of promise to improve our digital ad sector. Many people are already using brave browsers, and experts predict that this trend will continue. Keep in mind that in whatever investment you are entering in, in-depth and personal research is necessary.