Basic Attention Token price USD

About Basic Attention Token

Launched in 2017, Basic Attention Token is the token that powers the blockchain-based digital advertising platform designed to reward users fairly for their attention while offering advertisers a better return on their ad spend. This experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so. Incredibly, advertisers can deliver targeted ads to maximise engagement and cut down losses due to ad fraud and abuse.

BAT is used as the reward unit in the advertising ecosystem and is exchanged between advertisers, publishers, and users. Advertisers will pay for their advertising campaigns using BAT tokens. 70% of the amount paid is distributed to users, while a small portion is distributed to advertisers. This way, intermediaries that drive up advertising costs are taken out of the equation, and this helps improve cost efficiency.

Brendan Eich and Brian Bondy are the brains behind this project. Both are well-distinguished individuals in the internet browsing software industry. Eich serves as the CEO of Brave Software, the parent company behind Brave browser and the BAT token. He is credited with founding Mozilla and also inventing JavaScript in 1995.

A Brief History on the Price of Basic Attention Token

There have been many key events that have impacted the value of Basic Attention Token since its release in 2017. This section covers some of the factors that have had a direct impact on BAT’s market value.

Key News for Basic Attention Token

Basic Attention Token had an incredible start in 2017 after a successful crowdsale raised approximately $36 million (156,000 ETH). The BAT platform wasn’t fully integrated into the Brave browser until November 2017, when the developers announced the release of Brave Payments—a built-in method of supporting content creators.

Users who opt into Brave Rewards would start seeing Brave Ads and receive BAT, which they can claim every month via the integrated wallet. Users can customise how many ads they’d like to see, ranging from one to five an hour. They can also choose not to see any ads at all.

In November 2017, the BAT platform was expanded to YouTube, enabling viewers to send tips to their favourite content creators. It further expanded to include Twitch streamers in March 2018 after the incredible adoption the platform received from YouTube creators. By then, over 7,500 verified YouTube channels joined Brave Publishers, with a combined total of nearly 150 million subscribers.

In April 2018, Brave announced a partnership with Dow Jones Media Group that aims to bring premium content to new audiences and test blockchain technology usage in digital publishing. Brave agreed to provide access to premium content from Dow Jones Media Group to a limited number of users who download the Brave browser on a first-come, first-serve basis. The two companies also agreed to collaborate on and experiment with blockchain-based technology in media and advertising.

That same month, Brave partnered with YouTube celebrities Bart Baker and Philip DeFranco, who at the time had over 10 million and 6 million subscribers respectively. The two influencers had previously voiced the challenges content creators face when subjected to arbitrary rules. They were looking for new ways to fund their videos. Both enthusiastically adopted Brave and the BAT platform as a new ad revenue model.

By the time BAT celebrated its first anniversary in May 2018, it had already completed the first phase of its roadmap and was fully integrated into the Brave browser. The progress of BAT and Brave didn’t go without a hitch. In December 2018, YouTuber Tom Scott blasted Brave on Twitter for allegedly accepting anonymous donations from his fans on his behalf. Scott said he doesn’t ask his fans for donations or tips, and he was concerned that content creators could not “consent” or “opt-in” to the donations sent by Brave users.

Brave CEO Brendan Eich responded by saying it was a misunderstanding, and Scott was going to be excluded from the tipping system going forward. He further clarified that, as stated in Brave’s terms and conditions, the browser doesn’t keep user donations but that they are recycled into BAT’s user growth pool. However, Brave changed its rewards system to make it obvious that some creators aren’t verified as Brave Publishers.

To make it easier for users to cash out their accumulated BAT, Brave partnered with the digital money platform Uphold in October 2019. Users could now transfer their BAT out of their Brave Rewards wallets and convert the tokens to a variety of digital assets and fiat currencies available on Uphold. Content creators and publishers could also collect BAT donations on Uphold, where audience contributions are kept in escrow.

The growth of the decentralised finance (DeFi) space in 2020 was good for BAT. According to a report by Dapp.com, BAT was the most used coin in DeFi during the second quarter of 2020. It was briefly bigger than Ether (ETH) in the DeFi space with a transaction volume of $931 million before it stabilised.

The rest of 2020 was uneventful for BAT as its price hovered between $0.1 and $0.3. It wasn’t until the bull run of 2021 that BAT reached new highs along with other assets like Ethereum, Bitcoin and Litecoin. Its price has since stabilised, but it remains a valuable asset.

Basic Attention Token Timeline

• 31 May 2017
  Basic Attention Token was launched in a crowdsale that raised an estimated $36 million (156,250 ETH). The tokens allocated for the sale reportedly sold out in 30 seconds. There is a finite supply of 1.5 billion BAT. (The price of BAT at launch was $0.0359).
• 18 June 2017
  After the successful launch of BAT, the developers published a roadmap outlining how they were going to spend the crowdsale funds to further develop the platform. It included a schedule for integrating a BAT wallet into the Brave browser. (The price of BAT reached $0.204).
• 6 October 2017
  BAT had a beta launch on Brave. It included wallet integration with the browser to convert contributions from Bitcoin to BAT and allow users to send BAT contributions to publishers. (BAT price was $0.231).
• 16 November 2017
  The BAT platform expanded to YouTube, allowing YouTube content creators to receive BAT from their audience via the Brave Payments system. (The price of BAT was $0.165).
• 1 March 2018
  The BAT platform announced support for Twitch streamers, allowing content creators on Twitch to earn revenue from viewers who use Brave. The developers also announced a $1 million referral program for streamers who get their fans to start using the Brave browser. (The market price of BAT reached $0.341).
• 18 April 2018
  Brave and Dow Jones Media Group announced a partnership aimed at bringing premium content to new audiences and testing blockchain technology usage in digital publishing. (BAT price was $0.274).
• April 2019
  The growth of ads on the Brave ecosystem skyrockets. The BAT platform reports over 2 billion ad confirmation events and 2,677 campaigns from 465 advertisers, including big names like The New York Times, Verizon, Newegg and Logitech. (BAT price climbs to $0.461 on 31 April).
• 3 October 2019
  Brave partners with digital currency platform Uphold to allow users to seamlessly transfer BAT out of their Brave Rewards wallet and convert their tokens into fiat money or other cryptocurrencies. (BAT price reaches $0.168).
• 5 December 2019
  Brave passes 10 million monthly active users for the first time since its launch. The number of monthly users more than doubled in just one year. (The price of BAT was $0.182).
• November 2020
  Just one year after the launch of Brave 1.0, the browser passed 20 million monthly active users and 7 million daily active users. It reported a 2.3x increase in active users in one year. (BAT price was $0.234 on 30th November).
• 14 January 2021
  Brave reports 24.1 million monthly active users and over 7.8 million daily active users. Over 3.8 million transacting users have used BAT on the platform, and over 13 million BAT rewards wallets have been created. (The value of BAT was $0.249).
• 22 February 2021
  The development team published the BAT roadmap 2.0. They announced a new mobile and desktop wallet for Brave as well as plans to support Bitcoin, Polygon and other chains. (The price of BAT reached $0.607).
• 19 March 2021
  BAT announced a partnership with Binance Smart Chain (BSC). The browser wallet starts supporting BSC through a configuration change in the app. It also allows users to access BSC without having to create new wallets or download additional apps. (BAT was $1.21 at the time).

Compare Basic Attention Token with Fiat Currencies, Commodities and Crypto

There is no doubt that 2024 was a good year for BAT, but how does it hold up when compared to other cryptocurrencies and real-world commodities?

Compare Basic Attention Token with Ethereum 

BAT is an ERC20 token that exists on the Ethereum blockchain, so it’s not a bad idea to compare its market performance with ETH’s performance. According to CoinGecko.com, ETH reached a new all-time high in November 2021. It seems that some of that hype rubbed off on BAT because its best months to date were also in November 2021.

Compare Basic Attention Token with Silver

Silver is traded all over the world because of its high demand for use in an array of industrial and manufacturing processes. Its production was heavily affected by mine shutdowns in Latin America due to the pandemic in 2020. Silver prices rebounded in 2021 to reach a new all-time high of $28.52 per troy ounce on 31 January. Its price dipped from March to May 2021 before it experienced another uptrend.

In comparison, BAT’s best month in 2021 was November. According to CoinGecko.com, the value of BAT rose to reach a new all-time high of $1.90 in November, but that bull run didn’t last. BAT experienced a big downtrend in December 2021, which it has yet to recover from.

Compare Basic Attention Token with US Dollars

As a global currency, the US dollar is understandably going through a rough patch in 2021 as the global economy slowly recovers from the effects of the pandemic. The dollar has weakened substantially against the British pound and euro. According to a recent report by ING analysts, the US dollar is speculated to continue to decline in 2024 and could potentially lose up to 10% of its value against most major fiat currencies.

BAT did comparatively better through the pandemic as its value started 2020 at $0.18 and closed out the year at $0.2. It experienced strong growth in 2021, and as a whole, 2021 was one of the best years in the nascent coin’s history.

Basic Attention Token Future Price Predictions

The incredible growth Basic Attention Token and the Brave browser experienced in 2021 naturally led to a lot of speculation about the token’s future market direction. There is no way to conclusively determine what direction the price of BAT will trend in the future, but there are numerous factors that can at least provide hints.

Basic Attention Token Price Predictions for 2024

Except for the bull run of January 2018 when BAT reached $0.95, the price of BAT has for the most part hovered between $0.1 and $0.5 until 2021. BAT started 2021 at a modest $0.19. Its price slowly snowballed until April 2021, when it reached a new all-time high of $1.63. It remained over $1 until May 2021, when it dropped down to $0.5.

It’s hard to say if BAT will experience another uptrend during the last quarter of 2021, but its growth this year has enabled it to reach new resistance and support levels. As adoption of the Brave browser continues to rise, demand for BAT is also likely to increase, driving its price up further. If the market continues to be favourable, $1 may become BAT’s new support level in 2024and beyond.

Basic Attention Token Price Predictions for 2024

No one can say with absolute certainty how well Basic Attention Token will do in 2024. BAT may maintain its gains from 2021 and cross the $1 threshold once more in 2024, but this time remains there for good. However, it is also possible that its value will remain low for another year or two, just like it did after the 2018 bull run.

The market value of BAT is tied to the growth of the Brave ecosystem, which has received significant adoption in 2021. As long as Brave continues to grow, BAT will at the very least remain stable. Almost all of its 1.5 billion token supply is in circulation, so there are no major surprises down the road that could potentially upset its value.

Beyond 2022 for Basic Attention Token

The potential for the Brave browser to grow is enormous. People all over the world are looking for alternative browsers that offer more privacy. Brave is poised to capture that market as a browser that has strong privacy features right out of the box. Unlike other browsers like Chrome that track user browsing habits and monetise that information, Brave chooses to pay its users with BAT while protecting their data and history.

The only problem with Brave is that it is incredibly small when compared to industry titans like Google Chrome and Mozilla Firefox. While the 34.4 million monthly active users Brave reported in July 2021 may seem like a lot, it’s a drop in the ocean when compared to the numbers Chrome pulls. Google announced that its browser had passed 1 billion monthly active users on mobile back in 2016.

However, Brave’s growth in such a short time is still impressive. It shows that users are fed up with the rampant surveillance capitalism perpetuated by tech companies like Google. Brave is in a great position to capture the market as a cryptocurrency-powered, privacy-focused browser that actually cares about user privacy.

Basic Attention Token Price Conclusion

In summary, Basic Attention Token is a utility token that is integrated into the Brave browser and is used to reward users who opt to see ads on the platform. Users earn up to 70% of the ad revenue Brave receives from advertisers in exchange for their attention. The goal of Brave and BAT is to offer users privacy-centric advertisements that don’t track them. It’s an interesting value proposition that has the potential of revolutionising the digital advertising industry.

Since its launch in 2015, Brave has posted strong active user numbers and has experienced a big increase in publishers over multiple platforms. On-chain data, including transactions per day and active addresses, increased substantially in 2021, pushing the value of BAT to new all-time highs. The bottom line is that it’s a project with a practical use case and clear vision that is showing actual results in the present day.