BAT cryptocurrency and Brave browser partner with Dow Jones Media Group
The coin aims to become the future of digital advertising, and it's now being seriously considered.
Dow Jones Media Group, best known for its flagship Wall Street Journal, along with MarketWatch, Financial Times and other publications, has started trialling the Basic Attention Token (BAT) cryptocurrency, and Brave browser.
The token is designed to cut out the middleman in advertising, and create a new revenue sharing model directly between readers and publications. The system runs through the Brave browser, which natively blocks advertising by default.
However, it also lets users opt in to viewing ads if they want. The reason they would do this is because they can earn Basic Attention Tokens (BAT), a relatively popular cryptocurrency with a market cap topping $350 million, currently valued at about US$0.35 per token.
The goal of BAT and Brave is to create a win-win-win situation for publications like Dow Jones', its readers and advertisers alike.
- Advertisers: It can present a cheaper advertising solution for companies that want to spread the word, cutting out the near-monopolies of Google and Facebook advertising, and getting a better match between advertiser and user. The idea is that it's cheaper, and makes up for a lower volume of eyeballs by getting much more attention and value from each viewer.
- Readers: Viewers win by getting rewarded with BAT tokens for actively viewing advertising. The rewards are skewed depending on the amount of attention they direct towards ads, as measured in view-time and other metrics. Hence the name Basic Attention Token. It's literally a way of tokenising attention and trading it. To make the experience as useful and rewarding as possible, the system aims to collect data, to present viewers with the ads that actually match their needs and wants. The entire system is opt-in, and users can simply switch ads on and off through the Brave browser. Users can also directly reward content creators by tipping them with BAT tokens, use it to purchase premium Brave services and more.
- Publishers: Publications win by getting the lion's share of BAT tokens that advertisers pay to advertise on their platforms. These might be individual YouTube content creators, specific websites or large companies like Dow Jones Media Group. They can monetise content directly through receiving tips and offering higher-quality advertising opportunities to their partners.
This particular agreement is to give a set number of users free access to premium content on Marketwatch and Barron's, and to collaborate on an innovative system for future advertising models.
"Under the agreement, Brave will provide access to premium content from Dow Jones Media Group to a limited number of users who download the Brave browser on a first-come, first-serve basis. The available content set features full access to Barrons.com or a premium MarketWatch newsletter," Brave said.
"The two companies also aim to collaborate on and experiment with blockchain-based technology in media and advertising. They plan to test a number of innovative solutions in the news and information space, including delivering content via Brave’s blockchain-based digital advertising and services platform. Under the partnership agreement, Barron's and MarketWatch will become verified publishers on the Basic Attention Token (BAT) platform, developed by Brave."
"Our partnership with Brave is an exciting and innovative step for Dow Jones Media Group," said Daniel Bernard, senior vice president at Barron's. "As global digital publishers, we believe it is important to continually explore new and emerging technologies that can be used to build quality customer experiences."
BAT prices have been performing well under news of the partnership, rising almost 40% in the last 24 hours at the time of writing and bringing its 30-day price gains to about 100%.
Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, BTC, NANO
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