ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Brave Browser's BAT Tokens Sell Out In Seconds, Totaling $36 Million Invested




The Basic Attention Token sold out moments after the token offering commenced, netting developers a solid $36 million.

In an unprecedented event, the token offering to back the privacy-focused Brave Browser has broken records, raising 156,250 Ether or approximately $36 million in a mere 24 seconds. All in all, the developers were able to fundraise more than a million dollars for every second the sale was live.

No token offering has been as measurably successful thus far, and the funding will go a long way towards the Brave Browser's development of the BAT team, contractors, administration, contingency plans, and marketing campaigns. BAT's white paper provides budgetary percentage guidelines:

BAT Budget Allocation

The BAT token offering went live this morning when mining commenced on Ethereum block 3,798,640 and was originally designed to last until 156,250 Ether was raised. If the Ether cap wasn't met, the token offering would end when mining commenced on Ethereum block 3,963,480. In the 24 seconds that ensued from the initial kickoff of the token offering, demand for BAT tokens overwhelmed servers.

A small fraction of those who wished to participate was able to, and BAT disbursement seems lopsided; one individual owns 25 percent of the currency. A breakdown of the current disbursement of BAT tokens is available here:

BAT Top 100 Token Holders

The Brave Browser is open sourced and blocks mal-advertisements. The browser tracks user attention and rewards publishers who garner it accordingly with BATs. Users are shielded with anonymity from both advertisers and publishers by an algorithm developed for the Brave Browser called ANONIZE. BAT rewards paid to users who observe advertisements are also based on the number of pixels in view and the duration of the ad. In turn, BATs are bought by advertisers to fund marketing campaigns.

Now that the token offering has culminated, there are reverberations in the community. One reddit user on the fringe has said that the majority of small-time investors without large sums to throw at a token offering was forcefully cut out by whale investors, and is calling for an all-out boycott of BAT tokens.

In turn, a less extreme opinion on reddit sees the successful sale as an opportunity to drive mass adoption, pointing to the likelihood of mass-media coverage of the offering.

Regardless of public opinion, the Brave Browser will need to stand up to the test of time, which will determine whether its marketability and function match the fundraising effort.

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Basic Attention Token, token offering or other Ethereum cryptocurrencies and tokens news.