Basic Attention Token Up 40% Over 7 Days
Basic Attention Token (BAT) has recorded 16% growth in the past 24 hours, which adds to the total 40% gains made in the last week.
This time last week BAT was trading at a three month low of $0.19. The sudden spike in the last 24 hours combined with steady growth throughout the week has seen it recover to its pre-June crash price of $0.28.
Few coins or tokens in the Top-100 market cap rankings have recovered to their pre-’Sunday Bloody Sunday’ levels, but BAT is one of them.
BAT’s recent surge has seen it break into the Top-50, and the source of its rise shouldn’t be too hard to pinpoint.
Brave Browser Launch
The Brave browser is fitted to work directly with the Basic Attention Token, and rewards users for viewing targeted advertisements. Viewers of the ads are compensated for their ‘attention’, and are rewarded in BAT tokens.
The recent launch is undoubtedly related to the token’s strong performance over the past week, as curious denizens of the internet rush to see just how much money they can make for doing what they normally do – browsing the web.
As it stands, the end user actually ends up paying to be advertised to. Think about the bandwidth and computing resources required by advertisements. While that number may be small on any given page, it will soon amount to a huge chunk of your resources when accumulated over many web pages over many days.
With BAT, the user gets paid for their time and attention, and thus evens out the playing field as far as advertisers and consumers are concerned.
“The user deserves a share because their attention is being used up a little bit by ads. We’re working on better advertising that is truly private.”
“The BAT is the token for re-monetizing the user’s attention, including the user in a fair play system. (BAT) is what denominates attention in the sense of user engagement in a way that is not likely to be abused and rewards the users.”
As good as all of this sounds, the jury is anything but out on Basic Attention Token. The ICO may have raised $35 million in just 30 seconds, but if the latest reports are anything to go by, the rewards that a person gains from focusing their attention on the ads do not amount to much.
Undoubtedly this will change if the platform gains adoption in higher numbers. Before BAT can push any higher up the rankings, it will need to show businesses why they should bother to advertise using BAT, and it will need to incentivize end-users to engage with the platform to a greater extent.
Featured image courtesy of Shutterstock.