The advertising industry has been one of the fastest growing sectors in the global economy. Particularly, Internet advertising has grown steadily in the past few years to become the primary method of advertisement. Double digit growth is being witnessed in markets like the United States. Furthermore, mobile advertising is giving the other platforms are run for their money. Statistics show that mobile advertising will be responsible for 69.9% of the entire digital advertising. It will surpass TV and take the lead role in the ad space, besides the figure is expected to increase to 47.9% by the year 2022.
The blockchain technology is also expected to make a game changer entrance into the digital advertising and marketing industry. The industry is currently grappling with issues related to privacy as well as the disadvantages and advantages fo personalized marketing. The blockchain technology is better positioned to address these issues and many others providing viable solutions in line with the expected growth.
TRYBE, a news platform believes that the contribution of the blockchain into digital advertising is poised for greatness because of its potential at the moment and in future. Nonetheless, the competition in this sector of the global economy is known to be very stiff. At the same time, what could be working excellently at the moment could be the biggest loser in the near future. Moreover, the entrance of successful coins in the ad and marketing industry will mean that better projects will battle for the global market share while other variety of coins will survive amid rising competition from other digital technologies.
Therefore, does it mean that the ad and marketing industry is not ripe for the blockchain? Certainly not, remember I said before the that the blockchain will be a game changer in the industry; only that adoption is likely to take longer to achieve. Significantly, there are a number of operational blockchain projects that are already making headway in this industry. Such a project is the Basic Attention Token (BAT).
BAT cryptocurrency project has been in the blockchain/advertising industry for a while now and its outstanding performance cannot go unnoticed. The platform is also integrated with a web browser referred to as Brave. Besides, among its capable developers, there is the Mozilla Firefox co-founder.
Basic Attention Token (BAT) is a cryptocurrency token that is “introducing blockchain-based digital advertising.” It is an open-source, transparent and decentralized platform. BAT has been designed to bring efficiency in the marketing and advertising industry. The digital token, BAT is exchangeable among publishers, advertisers as well as users. The exchange utilizes the Ethereum blockchain and BAT can be used to pay for various “advertising and attention-based services on the platform.”
BAT was introduced to solve some of the existing issues in the modern advertising and marketing industry. Likewise, eliminating middlemen, trackers and fraud are some of the reasons why BAT exists today. Users, on the other hand, are constantly abused by the rising mobile data expenses where an average user spends up to 50% of the total mobile data on ads and trackers. The same ads take up 5 seconds of mobile load time while bringing down battery life by 21%. Moreover, users are left dealing with malware attacks which rise 132% each year.
For these and many other issues hurting publishers and advertisers alike, BAT integrated with Brave Browser. The Browser is one of the few in the market that are fast, open source and privacy-focused. Brave Browser is able to block malvertisements, trackers and “contains a ledger system that anonymously captures user attention to accurately reward publishers. The two work together to reward the publishers while maintaining trust and eliminating middlemen and fraud.
At the time of press, Basic Attention Token (BAT) is trading at $0.17 following a 3.41% rise in the last 24 hours. It is a $177 million digital asset that is currently ranked 43 in the digital space. It has a total coin supply of 1.5 billion BAT while 1 billion BAT are in circulation.