Crypto Spotlight: BAT
No, we don’t mean the cave creatures! We’re talking about one of our latest additions to the Wirex app that aims to create an efficient chain of digital advertising for both advertisers and consumers.
What is BAT?
BAT (Basic Attention Token) is a cryptocurrency that runs on the Ethereum blockchain. It is specifically exchanged between publishers, advertisers and consumers.
Who created BAT?
BAT was founded in 2017 by Brendan Eich and Brian Bondy.
What does it do?
BAT is integrated on a custom web browser called Brave. The aim of BAT is to streamline commerce between three parties – publishers, advertisers and consumers. Consumers are rewarded with BAT for viewing ad content based on their online activity. Publishers are therefore able to create the most engaging content and advertisers are reassured that they’re messages are being viewed by their target audiences.
Once users are rewarded with BAT, they can either hold it, exchange it for another currency or use it to support their favourite content creators.
What makes it unique?
BAT is unique as it introduces a new concept of advertising to a target audience. While online advertisements are often avoided by consumers, this new monetary encouragement would not only reward them for viewing ads, but also help marketers in increasing their brand awareness and acquiring a new audience.