Basic Attention (BAT) Live Price

What Is Basic Attention Token (BAT)?

The Basic Attention Token, or the BAT coin, is one of the latest additions to the list of long-standing crypto tokens. It is one such token that was designed to revolutionize the way we use adverts over the internet. Besides, it also operates around making DeFi and crypto available to everyone. 

BAT is the native token of the Brave web browser. It’s a platform that offers several advertising services with a rewarding experience. It simplifies the concept of ‘user attention’ by fairly rewarding them for their focus. 

Besides, the browser also has a great rewarding experience where publishers, users, and advertisers profit. Once the advertisers pay for their campaigns in BAT tokens, a small portion is distributed to advertisers, while the ecosystem rewards 70% to users. This way, the Brave ecosystem also cuts out on the intermediaries, maintaining the overall cost-effectiveness of the advertisement process. 

However, as of 2022, the BAT project is still under development, and although the Brave browser is available for download, it’s undergoing updates over regular intervals. As of Feb 2022, the Brave browser holds 54.5 million monthly users and over 16 million normal users.

BAT Price

The Basic Attention Token has been in the headlines since its launch in 2017. At its launch, the project aimed to raise $24 million. Interestingly, it exceeded the threshold. BAT was among the fastest ICO sell-outs of all time, allowing the platform to raise $35 million within a minute. 

Since then, the token has continued to perform exceptionally in the market, moving positively for most of its run. Adding to it, the token reached its all-time high shortly after its ICO. As per its price in late November 2021, the token reached $1.76. 

Fast forward to February 2022; the BAT token was already circulating at 100% supply with 1,500,000,000 BAT tokens in circulation. However, the crypto winter over a few months has greatly affected the token’s price. As a result, BAT witnessed a similar decline in its price, falling to 1/4th of its all-time high rates. 

A Brief History Of Basic Attention Token

The Basic Attention Token was the brainchild of two founders: Brian Bondy and Brendan Eich, two of the most celebrated professionals in the internet and web browser industry.

Brendan Eich, CEO of Brave Software Inc. (Brave browser’s parent firm), has been the founder and CTO of Mozilla. He has also been credited with the invention of JavaScript in 1995 and the launch of Mozilla Firefox in 2004.

On the other hand, Brian Bondy has been the CTO of Brave Software Inc. Bondy is one of the most experienced software engineers specializing in web browsers. 

Bondy has previous working experience as a software developer at Corel Corporation, a senior software engineer at Mozilla, and a development lead at Khan Academy. Together, both founders have over 50+ years of experience in the software development field.

However, Bondy and Eich aren’t the only Basic Attention Token ecosystem members. The website lists 16 team members from different engineering backgrounds. 

What Makes Basic Attention Token Unique?

BAT token’s ‘rewarding’ use case is what makes it exemplary. It is primarily used as a payment token for running ads via Brave Ads. Besides, the ecosystem’s ability to reward (tip) users (websites and individual Twitter users) who are yet to be a part of the network is exceptional. 

Adding to it, one concept revamps the BAT ecosystem is how the Brave browser tracks user behavior with digital advertisements, storing such information over its distributed ledger. Once done, it enhances the digital advertising experience for users, advertisers, and publishers. 

This way, users experience fewer but more meaningful ads. As a result, publishers tap into a new source of revenue, and advertisers have more options to target users with specific interests and preferences.

However, as of November 2020, advertisers must commit to spending a minimum of $2,500 per month on the browser to launch their ad campaign. We might also witness a future self-serve platform with lower ad spend limits.

How Does BAT Work?

The working principle of the BAT coin is simple. It is meant to simplify operations over the Brave browser, providing users with ‘Brave Rewards’ via the BAT tokens. 

When someone turns on Brave Rewards, the browser accounts for the total time spent on different sites, dividing the user's monthly BAT contribution among the sites they visit. 

This way, Brave Browser rewards users for their time and “attention.”

Where Can You Buy Basic Attention Tokens (BAT)?

With 2+ years into the market, you can purchase the Basic Attention Token in any major crypto exchange. Some prominent exchanges, like Huobi Global, Binance, and Coinbase Pro, are among the most reliable exchanges for the token.

Or you can also purchase BAT directly by using fiat tokens at different brokers or trade it against fiat assets on platforms like Bithumb and Kraken.