Basic Attention Token (BAT) is an open-source, decentralized ad exchange platform built on Ethereum blockchain. Created in 2016 by Brendan Eich, the creator of JavaScript and co-founder of Mozilla. With former experience at the Mozilla web browser, Brendan Eich, Brian Bondy and Scott Locklin created the Brave browser. Brave browser is an open-source, privacy-focused browser that blocks ads, trackers and malware.
On Brave browser, users can choose to watch privacy-preserving advertisements and, in return, they are rewarded with BAT coins.
BAT token is an ERC-20 payment token running on Ethereum. It can be exchanged between ad consumers, advertisers, and publishers, eliminating the need for intermediaries and tracking devices.
Basic Attention Token held an Initial Coin Offering (ICO) on May 2017 for its eponymous ERC-20 utility token, raising approximately $35M USD at the time.
In nutshell, the BAT ecosystem is relevant for advertisements in a private and secure way for Brave browser users. Plus users get a share of BAT coins as a reward.
Advertisers can get the viewer’s attention in a less costly manner as they can filter those who want to receive advertisements from those who don’t. Finally, publishers enjoy better revenues because of the targeted ads.