BAT Has My Attention

Disclosure: Member(s) of our team hold positions in BAT. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase BAT. You should not purchase any token based solely on this information. This is not investment advice.

Key Takeaways: 

• Brave Browser has 25.4m MAU and 9.2m DAU with an estimate of 50m MAU and 17m DAU by EOY, signaling confidence and that marketing efforts will likely ramp up.
• The new roadmap reveals an increased focus on DeFi / Web 3: Building new native wallet, multi-chain DEX aggregator, more utility for BAT (Discount token on fees).
• With its latest acquisition of a search engine and focus on a DeFi centric roadmap, Brave is targeting both web 2 incumbents and some of the more popular DeFi use cases.
• Brave has an open invitation (RFC&C) to scalable L1s and L2s as it looks to decentralize its ad network (ThemisV2 protocol) and mitigate gas costs for users.
• The crypto community has largely neglected brave/BAT but depending on the execution speed of the new roadmap, within a few years, the Brave product ecosystem may become too big to ignore.

There’s no other way to put it. Brave as a company has had tremendous success since inception yet BAT has lagged the market, still off 29% from its 2017 ATH. Is this a classic example of the equity vs. token value capture debate playing out in real-time? In this daily, I’ll argue why the token play is actually something to keep an eye on going forward. The easy answer for crypto outperformance is to simply invest in the DeFi and NFT sectors which are hot. However, I really want to make this piec