The cryptocurrency-powered web browser, Brave, has recently bought back more than half a million Basic Attention Tokens (BAT) from advertisers according to a data from its transparency page.
The repurchased amount, 534,441 BAT tokens (worth appr. $106,882), is very likely due to the increase in the rate of advertising since the browser launched Brave Ads campaigns with advertisers buying these ads with either fiat currencies or BAT tokens, and Brave subsequently repurchasing these tokens.
Notably, this is the highest amount of BAT tokens the browser has repurchased in a single month ever since they started buying back tokens in August 2019.
The browser is becoming increasingly popular for the high level of privacy. It affords its users by automatically blocking trackers, thus making the browsing processes of users seamless. Users also enjoy the opportunity of getting up to 70% of Brave’s advertising income via BAT tokens, which are given based on the total number of Brave Ads they can watch at a given time via the Brave Rewards platform.
The Brave team has also been consistently working hard to improve the browsing experience for users by introducing new features to the browser. The BAT token was also the first supported token on the Multi-Collateral Dai (MCD) system of MakerDAO late last year.
More recently, the web browser hit a total number of 12.2 million active users, with 4 million daily users according to a tweet by the CEO, Brendan Eich, on March 5. This is an increase of more than 4 million active monthly users from the last statistics in October 2019.
Meanwhile, despite the current market conditions, BAT token at the time of writing is currently up around 3% with a price of $0.2 per coin and a market cap of $288 million, perhaps suggesting that things are surely looking up for the fast-growing web browser.
Author: Obike Favour