Basic Attention Token Overview and How Does BAT Work?

What is a BAT coin?

BAT stands for Basic Attention Token. The idea behind this token is very simple but genius. Brendan Eich, who founded JavaScript language and Mozilla Browser, investigated the problem of advertising blindness and ad blocking software. As a result, he gathered a team and created a special browser to watch advertising for rewards. In this way, businesses can evaluate the effectiveness of the advertising,  All rewards are paid in special internal tokens, BAT. 

Browser for advertising

Fact: over 6 million PC and smartphone users use ad-blocking software. Global ad blocking software market volume in 2021 reached USD 445.3 billion, and it will double in 2028. People do not want to see ads. Even if the user does not use special software, it is possible to train so-called ad blindness. This is not a real sight issue; it is a question of perception. People stop noticing ads, even if they are forced to see them. A brain blocks the perception of this information.

Moreover, the advertising algorithms sometimes work chaotically. You could notice: if you googled a freezer or, say, cat food, you will see the advertisements for these products for several weeks. It means a browser collected your data and now it targets the advertising at you based on your previous search.

Personal data as a product

The history of your search is your personal information, like name, date of birth, or native town. When you enter a new website, it can warn you about its cookies policy, which data this site will collect from you and how it protects it. Let us be honest: most of us just accept all cookies without investigating the data policy. Some unethical websites can use this narrow place and sell your personal information.

Here is the conflict of interests: marketers all over the world spend billions on advertising production, they invent new and new ways to reach their target audience. At the same time, people put maximal efforts to avoid contact with ads. Content makers have to understand their audience to provide the best relevant content, but the users refuse to share their personal data (and they are quite right!). 

Every businessman knows the conflict of interests is a point of potential profit. So, how to make people watch advertisements? In which way the advertisers can reach their customers, discover their pain, and offer a solution? 

It seems that Brendan Eich decided to use his experience with browsers and launched a new blockchain-based project. Eich invited his former colleague from Mozilla, Brian Bondy, as CTO. Bondy has got a broad experience in software development, and together with Eich, they have 50+ years of experience. Also, 16 team members, developers, and researchers work for Brave Browser.

Get rewards for watching ads

Brave Browser, developed on the Ethereum platforms, is a platform for advertisers, publishers, and end-users. Here is how it works:

• Advertisers create various ads and pay some tokens to publish them;
• Publishers make ads available to users and collect statistics using Machine learning technology;
• Users view ads and earn tokens for their attention.

As you see, users and publishers earn tokens for their activities, and advertisers get good returns as data about their users, their personal data, and their interaction with the ads. We can say that Brave Browser is a platform for advertisement testing and fine-tuning.

Brave Browser is the first private advertising platform in the world. It helps the advertisers to collect and analyze the true and correct data about their viewers, their behavior, and their reactions to the advertising. In other browsers, the collection of such data is complex because of the data protection mechanism and ad blockers.

Content creators, who offer their ads to the community, also get rewards. The mechanism of rewards works similarly to Patreon service. If users like the content they watch, they can donate to its author. So, the Brave browser is beneficial for advertisers, content makers, and common users who just watch ads. This idea is straightforward. 

One of the attractive features for users is the ability to get a reward without being a part of the system. Users from Twitter, for example, can also watch ads and collect the rewards without entering the BAT network. As a result, Brave Browser celebrates 30 million active users, 10 million daily visits, and over 386 thousand unique wallets.

We just should add that the token in Brave Browser is called BAT – Basic Attention Token. It is based on the Ethereum blockchain and it works as a utility token. It means BAT was invented as a payment method. BAT is an internal token of the Brave\BAT system.

BAT ICO and further development

In 2017, Eich launched the IAC and attracted $35 million in just half an hour, with a price of just 17 cents per token. In a few days, the market capitalization of BAT increased to $285 million. It is a very good result for the ICO, so BAT started its journey with a positive move. Then the correction started and the token price fell to $0.9.

Crypto investors noticed BAT and the number of users started growing quickly. Freebies, and grants, together with the solution behind the token, attracted users to Brave Browser. Now BAT has more than 5.5 million users in its system. Brendan Eich dreamed of reaching the moon in the nearest 10 years but the global pandemic and the following crisis modified his plans. However, the bullish push for the token remains strong.

Basic Attention Token Price Prediction

At the beginning of 2022 analysts predicted the minimal price of BAT as $0.46, with a maximum of $0.54. Well, now it moves in the narrow range of $0.370.38, not bad, but lower than predicted. So, let us keep in mind that BAT in 2022 follows the pessimistic scenario for its price.

BAT Price Forecast for 2022

If we analyze the detailed forecast for BAT in 2022, we will see that this token trades slightly below expectations. So, in the middle of the year, it should trade for $0.39 – $0.41, but the real price range is $0.37- $0.4. So we can stick to the previous forecasts but make a little correction downward.

So, for 2022 the analysts forecast a moderate growth with the peaks up to $0.67 and immediate correction. However, nobody expects skyrocketing growth and serious falls. So, if you want to keep your funds protected from inflation, you can add BAT to your crypto portfolio.

Basic Attention Token Price Prediction 2025

If BAT can support the same growth tempo, in 2025 its price will be three times more than the current $0.39 average. In 2023 the average price can increase up to 0.69, and the next year 2024 can be marked with $0.99 and $1.16 maximal price. OF course, market factors can push the price up and down, but the general trend is steady growth.

In 2025, the predicted price range for BAT is $1.44-$1.68. The average price will make $1.49, which is more than three times more compared to the current price. If no negative factors reverse the trend, BAT will continue its steady growth after 2025.

Basic Attention Token Price Prediction 2030

Long-term prognosis on the crypto market is always in vogue. Too many factors of influence, crashes and peaks are possible. However, as for BAT all analysts still do not forecast sharp peas and falls. An average price in 2026 is $2.17, $3.15 in 2027, $4.62 in 2028, $6.85 in 2029,and $9.66 in 2030, with the possible peaks up to $11.66. More pessimistic forecasts say BAT will not grow higher than $5 to 2030. However, as a long-term investment, it seems to be a good option.

BAT Token Forecast for Long Term

When making long-term predictions, we should consider not only technical factors but also the technology behind the token. Brave browser is a working business idea. The users can follow the instructions and get some free BAT tokens. That is why the BAT community will function until the business idea is valid.

Of course, the Brave browser can stop working because of the competitive pressure or new technologies on the market. However, in 2022 there are no clear signs of such a fall. That is why we believe that the BAT community will grow year by year, as well as the price of the token. Most experts have a bullish outlook on Basic Attention Token.

Should I invest in BAT in the nearest future?

Before purchasing a cryptocurrency, you should check if it fits your portfolio. If you prefer investing in low-risk assets, you’d better step away from the crypto market. Each investment has related risks, but crypto assets are usually considered high-risk investments because of the market volatility. 

If you are OK with the high risk in the crypto market, you should consider BAT as a part of your investment portfolio. BAT has good long-term prospects. It has a good project behind it, a unique functionality, a wide community, and a solid market cap of over 1 billion USD.

There is no sense in considering BAT as a short-term investment because the price of the token moves in the narrow range and does not provide an option to make good money on the price jumps. However, in the long-term perspective, BAT is a good option. While the digital advertising market continuously grows, this token probably will do well in the future.

How can you get or buy BAT?

You can earn small amounts of BAT using the Brave Browser as a content watcher. Another way to get BAT is to accept it from other people to your crypto wallet. At last, you can buy it at a crypto exchange service by fiat or other cryptocurrencies.

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.