Which project will you think of if I say it is about blockchain-based digital advertising? If you have invested in cryptocurrencies for a while you probably have heard of Basic Attention Token (BAT). BAT changes digital advertising by rewarding users with BAT for their attention. This gives users the incentive to spend their precious attention into viewing an advertisement.
Using the earned BAT, the users can then reward publishers/content creators with BAT so that they can remove pesky Ads on their site. Finally, the advertisers can directly target users without having to go through publishers. This mean that they can potentially achieve better ROI and cut off excessive middlemen. The picture below pretty much summarizes what I have described.
The key challenge for BAT is that they have to acquire participants from all 3 ends of the triangle in order to realize the project's dream. They have done it in a pretty smart way by introducing the Brave browser. The Brave browser promises users' privacy, security and speed. I have been using it for sometime and so far so good. Though BAT is far from achieving their end goal, they have made tremendous progress.
Because BAT introduced the Brave browser, they can make very tight integration with various platforms to reward content creators. Based on statistics provided by BATGrowth, there are over 400k Brave Creators as of today. And they are not just any ordinary content creators, many of them are well-known names with millions of subscribers.
What about users? It will be meaningless for content creators if there are no users/viewers/readers. BAT also got it covered. In a recent blog post, it was said that Brave browser had achieved over 10 million monthly active users! How nice would it be if Steem can have one-tenth of that number of monthly active users. What attracts users is not just the privacy-focused browser, but also the rewards. Just by browsing around for a month, I have earned 3.5 BAT, which is roughly $1. It isn't much, but no harm getting some free money by doing the the things you need to do. And just a side note, the rewards on the mobile version of Brave browser seem to be much better. I have been using it for about a month as well and I have received 5 BAT.
So with users and content creators covered. The missing piece of the puzzle will be advertisers and this is precisely what compelled me to write this post. Today while browsing around on the Brave browser, I received an Ad about Amazon Electronics. This naturally means that BAT has successfully attracted large corporations as their clients to advertise on their platform.
It is pretty clear that BAT is gaining some serious traction in terms of growing their platform. It is not an easy feat as it requires concurrent acquisition of participants from 3 fronts. I hope that one day Steem can integrate with BAT and Steemians can directly be rewarded by being a Brave creator. I think that will greatly benefit Steemians and I hope STINC or any other Steem-based projects will be able to see this post and seriously consider a partnership with BAT.
If you have a YouTube channel or Twitter account, you should consider signing up as a Brave Creator here. It doesn't take much, you just need to download the browser and create an account. I have recently registered with my Twitter account and the process was a breeze.
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This article is created on the Steem blockchain. Check this series of posts to learn more about writing on an immutable and censorship-resistant content platform:
