Basic Attention Token (BAT) is the token that fuels the new blockchain-based digital advertising platform. The platform is designed to reward users for their attention, while providing advertisers with a better return on their ad spend. Hence the clever name.
This is delivered through the Brave Browser. On Brave users can watch advertisements and receive BAT rewards for doing so while keeping their privacy private.
The Basic Attention Token is the monetary reward in the advertising ecosystem. BAT is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget 70% is distributed to users.
After one of the fastest sell-out initial coin offerings (ICOs) of all time; BAT launched in 2017. The platform raised a total of $35 million in under a minute! Since then, it has rolled out its attention-based advertising experience to users in most countries through its Brave Rewards program.