In this article I am going to do my first full crypto review, and take a look at an ERC-20 token that actually has a real world use case, the Basic Attention Token (BAT). BAT is trying to revolutionize the way online advertising is handled, and leveraging the Brave Browser that we mentioned in a previous post, they seem to be doing a good job.
For the usual disclosure, I am not a financial advisor, I don’t even work in finance at all. My day job is as a telecommunications software engineer. Treat everything you read here as some educational resources and not financial advise. Some of the links you find on here will also be affiliate links, so using them will benefit the both of us.
The Beginning
The Basic Attention Token (BAT) and Brave Browser were created by a guy by the name of Brendan Eich. He also just happens to be the creator of JavaScript and the former CEO of Mozilla. You know, the Mozilla that created that other large web browser. Yes, that one. So the roots of the whole system are very strong.
The company was founded back on 28 May 2015, and they quickly got the first version of the browser released in January the following year. The BAT token itself was dropped via Initial Coin Offering (ICO) on 31 May 2017.
Usage
The main purpose of the Basic Attention Token (BAT) is to allow advertisers to pay for ad space that will hit the people that actually care about their product. And it does it in a way that is not all big brother-y need to listen to every word you speak, invasive like how companies usually approach it.
Instead of sites monitoring your every move via cookies, or listening to the microphone on your smartphone, or however it is they all monitor everybody now-a-days, and using that data all over the place to drive your ads, the Brave browser keeps all of that data locally and secure, and then instead of the ads being pushed by the sites, they are delivered by the browser, and nobody has to have access to anybody’s personal data or browser history directly to pull it off.
So the advertisers purchase a bunch of BAT, and then spend that BAT on ads, which are then shown to you, the user of the browser. And then you click the ads. And then you also get paid some BAT. That’s right, you can actually get paid for having ads stuck in your face. Now, it’s not get rich money, as you can see, my take for the month is not enough to retire on:
But hey, I was going to be browsing the web and seeing some random ads here and there anyways, so I might as well get paid for it while I do. I have mentioned that browser also natively blocks all other ads other than the ones they pop up and pay you for, right? I haven’t? Oh, well now you know.
Brave Creators
Content creators can also sign up to become Brave Verified Creators, which lets them link up their websites, YouTube channels, Twitter and Twitch accounts, etc. It then let’s people that browse to their content using the Brave browse to directly tip them in BAT from their browser.
This allows people to easily and directly contribute to the creators they enjoy, without having to jump through hoops of signing up for their Patreon, or sending them donations through some other service. You just need to have BAT in your wallet and you can click the button in the browser and tip them directly. Creators like, you know, this guy.
Price History
Looking at the daily chart for BAT since the end of last year, we can see some nice strong growth in the time leading up to the recent market crash, and in more recent days appears to be having some nice consolidation towards the upside, so I don’t see any reason why it won’t recover and get back on it’s upward trend as the whole market recovers.
It set it’s All Time High (ATH) price of $1.6498 on April 8th, and was rebounding off a lower support line, which has now flipped to be the apparently resistance line that we are currently pushing up against in the $0.82 range. It’s very conceivable for it to recover at least back to the previous high level and potentially more, as this is a useful token that is currently being used for real world, tangible things already.
Conclusion
The Basic Attention Token (BAT) is a crypto currency that has a real world use case. It proves that crypto can be directly used in the real world for actual tangible effects. The fact it’s changing the way online advertising is done is great, because who wants a screen cluttered with images screaming at you to buy this thing or that. Brave popping up a few ads here and there, and also paying you for your attention, is a vastly superior system.
I’d highly recommend using this as a starting point and DYOR’ing some more on BAT, as it could be worth at least earning some of it for free just by clicking some ads, and squeezing a few extra bucks out for things you’d be doing anyways.
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Missed some of the earlier posts, here are some related ones I think you’d enjoy:
Getting Some Free Starter Crypto
Moving Average: Technical Analysis Part II
Smart Contracts: Code Is Law
Reposted From My Website: https://ninjawingnut.xyz/2021/06/03/basic-attention-token/
