Eich knows his startups, and investors trusted this as BAT ICO launch last year and raised $35 million in less than 30 seconds of its launch. It has built up momentum, and at the time of press it was trading at near $0.21 and just last month its holders got wind that it will be listed on Coinbase, an idea the U.S.-based crypto exchange says it’s considering.
The aim project is to provide a platform that enables Ad placement and provides the ability to make micro-payments between publishers, advertisers, and content creators. Basically eliminating the need for third parties ad networks like Google. The token is powered by Ethereum blockchain and is utilized through Brave, a web browser that offers this ad services. The developers want to create targeted advertisement that will be more efficient for all parties involved. This will happen by tracking user interactions and recording and storing this data on a distributed ledger.
Per the company’s Whitepaper, the operation of the BAT system will provide users relevant advertisements, privacy and security when viewing ads as well as a share of the BAT tokens for viewing the adverts. Publishers will get improved revenue, enhanced reporting, and less fraudulent activity. Advertisers will also get less fraud, better attribution, and cost efficient customer attention. BAT will be used in the process by having advertisers transact with BAT, the publisher being paid in BAT and users rewarded for their attention in BAT.
If the BAT system is successful it will open up an industry that is opaque and dominated by several third-party multinationals, while introducing aspects that are revolutionary to the sector.
Basic Attention Token brings an innovative solution to an industry which is outdated and ineffective. As for the token, it is riding on the the success of the project.