Basic Attention Token Now Redeemable at Over 250,000 Brands Including Amazon, Starbucks, Uber, and Apple

Basic Attention Token Now Redeemable at Over 250,000 Brands Including Amazon, Starbucks, Uber, and Apple

Brave users can now redeem Basic Attention Token for real-world rewards from over 250,000 brands including Amazon, Apple, Starbucks, and Uber. The new feature comes from a partnership, announced Feb. 26th, with TAP Network, a blockchain based digital advertising platform.

Brave Partners with TAP Network

Brave Software is a  privacy-focused browser looking to change the way users interact with ads; The company also leverages a cryptocurrency, Basic Attention Token (BAT), to achieve that aim. Brave announced that it was partnering with TAP Network at Mobile World Congress on Feb. 26th.

TAP Network is an advertising and data platform “powered by blockchain technology.” The company aims to “give consumers control over their data and preserve their privacy while offering real rewards,” complementing Brave and its goal of building a private and seamless browsing experience by innovating in the digital ads space.

Brendan Eich, the CEO of Brave Software, said the following about the new partnership with TAP Network:

“We’re excited to welcome TAP Network as a partner for our ad platform that’s built completely on privacy, and together, reward users for their attention while opening doors for brands that are looking to connect ethically with new audiences.”

Lin Dai, the co-founder and CEO of Tap Network stated:

“We are excited to partner with Brave to further the mission of protecting consumer privacy and rewarding users for participating in the advertising ecosystem.”

Basic Attention Token Redeemable for Rewards from 250,000 Brands

The new partnership allows Brave users to redeem BAT tokens through TAP Network’s 250,000 plus brand partners. This gives BAT holders the ability to redeem tokens for gift cards from Amazon, Apple, Uber, Starbucks, and other recognized brands. Users will also be able to redeem earned tokens for hotel stays, restaurant vouchers, and “exclusive entertainment experiences.”

Furthermore, users can also use BAT to contribute to the Red Cross, Habitat for Humanity, World Wildlife Fund, and other charitable causes.

Opt-In to Ads for Rewards

The announcement also promotes a feature in Brave browser where users can opt-in to watching ads through Brave Rewards. Currently, desktop users can choose to view ads from advertisers (many of them from the TAP Network) to earn Basic Attention Tokens.

Eich had the following to say about the current advertising environment:

“Both the user and the advertiser lose in today’s digital advertising landscape, and with regulations like GDPR looming all over the world, this broken ecosystem simply cannot continue as we know it.”

And Dai goes on to add:

“Consumer data is being misused by major internet companies and TAP Network empowers consumers to directly take control of their own data and get rewarded from top brands.”

Expansion Plans and Impact

Brave is looking to partner with other ad networks to expand its rewards offerings and also looks to roll the feature out to mobile platforms by the end of 2019. According to the announcement, Brave is working to integrate options from BuySellAds, AirSwap, Fluidity, ConsenSys, and Uphold into its Brave Ads catalog.

One of the largest challenges Bitcoin, Ethereum, and other cryptocurrencies have faced is acceptance. High fees and technical complications have made many vendors reluctant to accept crypto.

Yet, it seems that Brave and Basic Attention Token has been able to overcome this problem by working with advertising networks. BAT was able to expand its network by hundreds of thousands of vendors, substantially growing the reach and utility of the cryptocurrency. Perhaps this will offer a model for other projects to follow for more widespread acceptance?

Basic Attention Token | BAT

Updated: Nov 7 at 2:25 am UTC

Basic Attention Token, currently ranked #24 by market cap, is up 0.98% over the past 24 hours. BAT has a market cap of $476.63M with a 24 hour volume of $68.57M.

Chart by CryptoCompare

Basic Attention Token is up 0.98% over the past 24 hours.

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Mitchell Moos

Mitchell Moos

Contributing Analyst @ CryptoSlate

Mitchell is a software enthusiast and entrepreneur. His first startup built algorithms for optimizing cryptocurrency mining. Prior to CryptoSlate, Mitchell was a project manager at a firm that built distributed software on Hyperledger. In his spare time he loves playing chess and hiking.

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