Brave wants these tokens to be what gets exchanged in the online ad industry. On May 31, Brave raised $36 million in 24 seconds by selling 1 billion BATs. At the current exchange rate, each BAT is worth about 21 cents.
But Brave relies on a newer, more sophisticated alternative, Ethereum, as a foundation for its technology, called the basic attention token, or BAT. The best-known example is bitcoin, which has surged in value in recent months. "We're just reconnecting them."īrave's new system relies on technology called cryptocurrency. "If we do it right, it'll create a new ecosystem into which we transplant the viable parts of the current ecosystem - the users, the publishers and content creators, and the brands who advertise," he said. "We're giving people a warm welcome and putting some change in their pockets," said company Chief Executive Brendan Eich, who previously co-founded and led the Mozilla Firefox browser. Taking a step in that direction on Wednesday, it started issuing the digital equivalent of the money it hopes will power that system. Ultimately, it plans to build a system in which those payments are funded by some of the ads you see. But the startup doesn't want to rid the world of ads, only to come up with a system that delivers them with more privacy and security and fewer middlemen.īrave already lets you contribute payments to publishers and, more recently, YouTube stars who sign up with Brave. The Brave browser blocks ads and ad trackers by default, a move that makes pages load faster and eliminates some prying into our lives online. Brave Software has embarked on the next phase of its plan to get you to use its browser - and to build a privacy-first alternative to today's online ad industry.
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