Why Basic Attention Token Is Going To Explode In 2023

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Last Updated December 29th 2022
7 Min Read

With digital advertising becoming more prevalent each passing day, its flaws are more apparent. Internet users are plagued by hundreds of annoying advertisements while surfing. These adverts make page loading slower and violate privacy by user tracking and data sharing, with or without their consent.

There has been an increased focus on NFTs and DeFi cryptocurrency projects lately. A unique crypto token that was designed to concentrate mainly on digital advertising, data storage, handling, and transactions is Basic Attention Token (BAT). 

Basic Attention Token is going to explode in 2023. Thanks to its significant growth and recent adoptions, the digital asset has the potential to hit record heights by the end of the year.

So what are the factors that are driving BAT’s growth? Let us explore more about its features, recent adoptions, updates, and price rallies. 

Looking At 2023: Is BAT All Set For A Massive Rally?

The Basic Attention Token is an innovative utility token built on the Ethereum platform and powered by Brave Web Browser. The BAT token is used to reward users for the attention provided to certain ads while publishers and creators earn ad revenue and tips. 

The purported goal of this unique blockchain system is to provide users with a platform that has fewer ads according to their interests, along with maintaining their privacy. 

#1: Unstoppable Growth

BAT is the native utility token of the Brave web browser. The company had a prolific Initial Coin Offering (ICO) in May 2017, raising almost $35 million in just half an hour. Moving ahead, in January 2019, BAT token achieved a huge landmark, hitting 5.5 million active monthly users in the Brave browser and over 28,000 verified publishers. 

Though the token had a drop in the bear market of 2020, it has made an excellent comeback in 2021. Beginning the year at $0.24, BAT had a tremendous surge of 400%, hitting an all-time high of $1.91 in November. As of writing, the coin trades at $1.01. 

With recent partnerships, major listings, and rising interest in the utility of the BAT token, the asset shows no sign of stopping any time soon. 

#2: Unique Features Of Basic Attention Token 

BAT stands out from its competitors by its utility in the Brave Web browser. It is the only currency that powers all the ecosystems behind the browser. Users, publishers, and advertisers perform transactions with the token to either be rewarded for their attention, creativity, or effective ad placement costs. 

Brave is a unique browser, thanks to its shields and ledger system for measuring user attention. By effectively blocking advertising and trackers, it loads pages faster than any of its competitors. It offers users ad-free browsing but also allows them to opt-in to watch ads in exchange for BAT.

Moreover, it also improves cost efficiency to advertisers and eliminates intermediates, ensuring that every ad that pops on the browser is safe and transparent. Thus, it equally benefits all three sectors, including publishers, advertisers, and users. 

Publishers receive BAT-USD whenever a user watches or even clicks on ads on their sites. Advertisers benefit from lower overhead costs and higher engagement by efficiently targeting ads for the user profile. At the same time, users can enjoy increased privacy without sacrificing the uses of highly-tailored advertisements. 

#3: THEMIS Protocol

The dedicated research team behind Brave has been continuously working on a unique protocol called THEMIS over the past few years. It progressively decentralizes the Brave or BAT Ads infrastructure while providing advertisers and users power to verify the proper running of the protocol. The protocol can distribute millions of opt-in ads to its users, along with ensuring their privacy. 

#4: Solving A Prime Issue In The Digital Advertising Sector 

The primary reason behind Basic Attention Token to likely explode in 2023 is its utility in the digital advertising sector. The main issue with advertisements is that some can be malicious, and the user will never know about them. Thus, it opens ways for hackers and paves a passage for extracting every personal and sensitive data that the user enters.

The Brave browser can solve this issue by acting as a decentralized advertising platform. As a result, users will see fewer ads that are more relevant through the browser and caters to their interests while complying with their privacy rights. 

By deploying blockchain technology, BAT reduces fraud on behalf of advertisers and enhances the effectiveness of targeted ads. It securely tracks user attention and translates it into rewards for publishers. In addition, BAT ensures privacy by keeping the user’s private data only on the device that they use the Brave browser on. 

Furthermore, advertisers also conduct BAT transactions to receive advertising space and market their products to users. The team behind the token hopes to create a more transparent, fair, and safe environment for advertising in the coming years.

#5: Significant Partnerships

Both the Brave browser and Basic Attention Token have partnered with several start-ups and institutions since their inception. One significant partnership that boosted the token’s price was with TAP Network, the crypto advertising start-up. 

The establishment has an incredible 250,000+ brand associations with some of the big hitters in the market like Amazon, Starbucks, Apple, Red Bull, Paramount Pictures, and even charities like the Red Cross, Habitat for Humanity, and the World Wildlife Fund. This partnership has helped BAT to reach out to a wider audience.

Check Out: The Top 21 Cryptocurrencies to Buy 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Partnership With Binance Smart Chain  

Brave has recently published a roadmap update for the Basic Attention Token highlighting all the significant partnerships the token has made. One prominent coalition worth mentioning is the Binance Smart Chain (BSC) partnership.

The team announced in March 2021 that this unique coalition could help BAT expand its DeFi use cases. With the increasing popularity of the BAT token, it will also benefit BSC in numerous ways. For example, it will allow BAT holders to use the token with multiple BSC-based DeFi apps like Pancake Swap and Beefy Finance.

Grayscale-Basic Attention Token Trust

Grayscale Investments, the world’s largest digital currency asset manager, earlier last year announced a new BAT cryptocurrency trust along with four others. The announcement had quite a bullish impact on all the listed tokens. BAT registered a new high of $1.37 (rising above $1 for the first time since its inception) post the announcement. The Grayscale-Basic Attention Token Trust will provide a wider reach for the BAT token, boosting its adoption worldwide. 

Brave Browser Offering NFTs In Partnership With Origin Protocol

Brave, the crypto-powered web browser that uses BAT token, also jumped on the bandwagon of non-fungible tokens in 2021, with offerings of its own in partnership with Origin Protocol.

In an announcement made in February, the Origin Protocol stated that the Official Brave Store has now started accepting orders for limited edition NFTs. This will be marked as Brave’s first direct offering of NFTs via its decentralized e-commerce storefront. 

What Gives BAT Its Value?

Various factors have impacted the price and value of the asset. Still, a significant part of the token’s value comes from its utility as a unit of exchange in an efficient marketplace like digital advertising. It provides a substantial source of income for content creators and is an efficient means of payment for ad campaigns for advertisers. 

With more users opting for Brave for a seamless and safe browsing experience, more advertisers will join the BAT ecosystem. So naturally, the need to purchase the Basic Attention Token will tremendously increase, boosting its price to explode in 2023. 

Why Is Basic Attention Going To Explode This Year?

BAT stands out from its competitors in the market, with over 1 million verified content creators registering for BAT rewards, including Wikipedia, The Guardian, The Washington Post, and 50 Cent. It is also one of the most used tokens with close to 12M wallets, 1M verified publishers, 4.3M monthly transacting BAT users, and more than 400 advertisers. 

Earlier this year, BAT was listed on yet another Japanese exchange - Bitbank. With continuous growing adoption, the platform is attracting many new strong investors and retail traders into its ecosystem. These increased interest and adoptions have triggered the price of BAT to explode in 2023. 

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The Bottomline 

The unique project is evolving in all possible dimensions as it is looking forward to implementing easy micropayments for goods using BAT. Moreover, if BAT sticks to its promise of incorporating rewards in gaming apps, it can easily increase its user-base as decentralization in gaming is gaining continuous popularity.

With all the plans in place, recent adoptions, and optimistic price forecasts, Basic Attention Token will most probably explode in 2023, successfully positioning itself in the crypto space. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.