Basic Attention Token is Giving Users Money to Jumpstart its Economy
Basic Attention Token, the blockchain-based alternative to modern digital advertising, is now offering users a one-time monetary grant. The grant aims to grow the BAT economy and promote the platform.
Through Basic Attention Token’s browser, Brave, users can receive approximately $5 USD worth of tokens through Brave’s in-browser payment system, Brave Payments. This will result in publishers and Youtube creators earning up to $50,000, at no cost to users.
The Basic Attention Token ecosystem
“Utility tokens require users at scale,” said Brendan Eich, BAT’s founder, in a statement to Coinsquare Discover.
“We endowed users with tokens with the User Growth Pool before the BAT sale in order to disburse grants to put change in users’ wallets. This is just the first step on a path that will fund many users and provide tokens with sound incentives for the health of the BAT ecosystem.”
Eich’s statement makes it clear that fostering a healthy ecosystem for Basic Attention Token relies on encouraging the economy. The decision to give away free tokens is part of a plan to incentivize public adoption of Basic Attention Token and the Brave browser.
Once claimed, users will have 90 days to spend their tokens supporting web publishers and creators. Publishers and creators are eligible to receive payments through BAT once they’ve signed up for free as a member of Basic Attention Token’s new publisher system.
Supporting publishers directly
This announcement follows the BAT Team’s recent decision to allow users to directly support content creators on YouTube.
Currently, the initial promotion capped out at 300,000 tokens. The overall UGP (User Growth Pool), however, contains 300 million tokens, derived from BAT’s ICO in May 2017. Both new and current users are eligible to claim their share of tokens on a ‘first come, first served’ basis.
The BAT team wants to use free tokens to create movement within their economy and continue the platform’s growth.
Allowing users to directly support websites and content creators directly reflects the project’s mission statement. BAT claims the current system hurts both consumers and creators, so their platform takes power away from intermediaries.
At the time of publishing, Basic Attention Token informed Coinsquare that users can claim their 30 tokens (approx. $5 USD).
Image credit: Basic Attention Token
Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare.
Get the latest blockchain and digital currency news from Canada and around the world, delivered each week to your inbox.
Your Email address