Former Mozilla CEO Brenden Eich chose a new path of fundraising when launching his free, open sourced, safety-focused web browser, Brave.
Within 30 seconds of launching his ICO, the Ethereum-based Basic Attention Token (BAT), generated $35-million worth of ETH between only 130 investors. One buyer even dropped a whopping 20,000 ETH ($4.7-million) on the ICO.
Since the launch, Brave has moved to reshape the world of advertising, allowing visitors to choose whether or not they want to see ads. Additionally, publishers, YouTubers and Twitch streamers have the option to get paid directly for their services.
And now Twitter and Reddit users are able to collect some crypto for their contributions, as well.
“The model will be tipping — a user likes a tweet and can give BAT to the tweeter, and optionally tweet back that he tipped,” the company noted.
The tipping model is nothing new. Reddit bots have been at it for ages. But this will be the first time a browser allows users to receive payments for their content.
Brave and internet regulation
As Brave continues to reinvent internet advertising, it’s also taking on Big Tech and the regulatory standards of the United States.
Recently, CEO Brenden Eich issued an open letter to regulators, outlining why the U.S. needs a GDPR-like regulatory standard like Europe.
Eich wrote, “The character of the GDPR is congruent with the United States’ understanding of privacy. Indeed, the primary principles of the GDPR are based on principles that the United States already endorsed in 1980, in the OECD Guidelines on the Protection of Privacy and Transborder Flows of Personal Data. These previously endorsed principles include a GDPR-like definition of “personal data”. It is also worth noting that many features of the GDPR have been sought by the FTC for over a decade.”
Read the full letter to U.S. regulators here.
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